STOCKS TELEGRAPH

Category: Morning News

  • Stocks to Watch as Market Sentiment Points to a Good Day for Equities

    The markets are up this morning, with the NASDAQ leading the way. This has been driven by the increased momentum around big tech. More specifically, Apple and Tesla are the two key big tech stocks that are leading the way. The excitement comes from the news of the stock split itself and the fact that the two companies have recorded consistent growth all through the year. Besides big tech, there is increased optimism in the market banked on hopes that the worst of the pandemic is over. This is evident in the moves and investments that big companies are making. Yesterday, the markets woke up to the news that Nestle was buying Aimmune in a deal worth $2.6 billion. Similarly, companies are now confident enough to start doing mega IPOs. Today, Reuters has reported that Chindata, a Chinese data centre company was planning to do a $400 million IPO in the U.S. This would make it the 5th largest IPO of a Chinese company in the U.S in 2020. Such moves point to growing optimism in the market that the future is bright. As positive market sentiment grows, certain stocks that have positive news are outperforming the market. Some of the best performers ahead of markets are as below:

    Plus Therapeutics Inc [NASDAQ: PSTV]

    Plus Therapeutics Inc is a top performer this morning and is up by close to 50% pre-market.  This follows the company’s announcement that the U.S FDA had given it an orphan drug designation for Rhenium NanoLiposomes, an investigational drug for treating recurrent glioblastoma. The treatment is being developed with support from the NIH and NCI and is phase 1 dose-finding clinical trial. Commenting on the development, the company’s CEO, Dr. Marc Hedrick stated that the approval by the FDA was a key milestone towards the development of the treatment. He added that they believed the treatment has the potential to increase patient lifespans.

    Priority Technology Holdings Inc [NASDAQ: PRTH]

    Priority Technology Holdings Inc is another top performer this morning and is up by over 30% pre-market. This follows the company’s announcement that it had entered into an agreement with MRI software for the sale of its RentPayment™ business. Under the deal, MRI will buy the business that comprises of RentPayment.com™, DuesPayment.com™ and StorageRentPayment.com™. The deal also stipulates that Priority will provide its payment infrastructure as a service to the MRI platform.

    Athenex Inc [NASDAQ: ATNX]

    Athenex Inc is another top performer this morning and is up by over 20%. This follows the company’s announcement that the FD had accepted its NDA filing for its metastatic cancer treatments called Oral Paclitaxel and Encequidar. CEO Johnson Lau stated that they were happy with the milestone and continue making preparations for a commercial launch.

  • Here’s Top 25 Biotech Stocks For September 2020

    Here’s Top 25 Biotech Stocks For September 2020

    One thing constant in the world is change. As time passes there are many industries that are undergoing changes as they expand their businesses and bring new innovations. One of the industries that are known for their constant change is the biotechnology industry.

    The biotech industry is continuously changing in every aspect of daily existence with new technological breakthroughs and advancements in knowledge. Companies are constantly striving to bring new medicines and vaccines to deal with the diagnosis.

    Let’s have a look at the top 25 biotech companies which are continuously adding new trends in the market:

    Aimmune Therapeutics Inc. (NASDAQ: AIMT) shares were trading up 171.59% at $34.22 at the time of writing on Monday.

    Aimmune Therapeutics Inc. (NASDAQ: AIMT) share price went from a low point around $10.09 to briefly over $37.00 in the past 52 weeks, though shares have since pulled back to $34.22. AIMT market cap has remained high, hitting $2.13B at the time of writing, giving it a price-to-sales ratio of more than 3550.

    If we look at the recent analyst rating AIMT, Cowen initiated coverage on AIMT shares with an Outperform rating. Aimmune Therapeutics recently disclosed it has signed an agreement with Nestle S.A. As per the agreement, Nestle will pay $34.50 per share in an all-cash transaction.

    Akcea Therapeutics Inc. (AKCA) last closed at $18.28, in a 52-week range of $8.00 to $22.79. It has been disclosed yesterday that Ionis Pharmaceutical has bought the 24% shares of Akcea it hasn’t owned earlier for $18.15 per share in cash. This acquisition is one step forward to make a strong and efficient organization that gives benefits to all shareholders.

    Capricor Therapeutics Inc. (NASDAQ: CAPR) Shares headed rising, higher as much as 14.64% after Capricor Therapeutics to Present at The LD 500 Virtual Conference. Capricor market capitalization is 115.11 million. The most recent rating by Maxim Group, on December 26, 2018, is at a Hold.

    Capricor Therapeutics, a clinical-stage biotechnology company has disclosed earlier that the US Food and Drug Administration (FDA) has approved the Investigational New Drug (IND) application for a Phase 2 clinical trial of CAP-1002 in COVID-19 patients.

    Apellis Pharmaceuticals Inc. (APLS) stock soar by 14.74% to $30.83. The most recent rating by ROTH Capital, on July 20, 2020, is at a Buy. Its stock fluctuated between the 52-weeks low range of $16.85 and a 52-weeks high range of $45.04. It has moved up 82.97% from its 52-weeks low and moved down -31.55% from its 52-weeks high.

    Xeris Pharmaceuticals Inc. (NASDAQ: XERS) rose 10.71% after gaining more than $0.45 on Monday. Xeris, a specialty pharmaceutical company disclosed August 26, 2020, that the Compensation Committee of Xeris’ Board of Directors awarded non-qualified stock options for an aggregate of 500 share of its common stock to 1 new employee under the Inducement Equity Plan of Xeris.

    Xeris share price went from a low point around $1.42 to briefly over $12.29 in the past 52 weeks, though shares have since pulled back to $4.71. It has traded up $231.34% from its 52-weeks low and has traded down -61.72% from its 52-weeks high.

    9 Meters Biopharma Inc. (NASDAQ: NMTR) shares headed rising, higher as much as 7.73%. It has disclosed Monday that it has decided to form the scientific advisory board (SAB). The SAB includes an acclaimed group of six experts in the gastroenterology field with sub-specialties in celiac disease, inflammatory bowel disease (IBD), and functional GI diseases. 9 Meters have gained +0.05 during its trading on Monday. It has moved up 76.17% and moved down -49.46% from its 52-weeks low and high range, respectively.

    VBI Vaccines Inc. (NASDAQ: VBIV) rose 6.77% after gaining more than $0.27 on Monday. VBI Vaccines Presents Phase 3 Sci-B-Vac® Data at EASL 2020. During the presentation, Professor of Paediatrics at the University of Bristol, UK, and principal investigator of the CONSTANT Phase 3 clinical study, Adam Finn, M.D., Ph.D., revealed the encouraging points of hepatitis B antibodies. VBI Vaccines traded up 815.15% from its 52-weeks low and traded down -38.53% from its 52-weeks high.

    CymaBay Therapeutics Inc. (NASDAQ: CBAY) rose 5.37% after gaining more than $0.33 on Monday. It has disclosed the result of Phase 2 study of seladelpar in patients with primary biliary cholangitis (PBC). The data presented at electronic presentation showed the safety and efficacy of seladelpar over 1 year of open level treatment. These findings suggest that seladelpar treatment in a high-risk PBC patient population promotes clinically significant improvement.

    BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) rose 4.53% after gaining more than $0.18 on Monday. BioCryst Inc disclosed Monday it has received Orphan Drug Desigantion from FDA for its oral Factor D inhibitor, BCX9930. It is used for the treatment paroxysmal nocturnal hemoglobinuria (PNH). It has moved up as its announced it has received the $44 million  National Institute of Allergy and Infectious Diseases (NIAID). This amount is awarded to BCRX by NIAID to support the development of galidesivir.

    ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) Shares headed rising, higher as much as 4.24%. The most recent rating by Raymond James, on August 25, 2020, is at an Outperform. ACADIA Inc has announced earlier that it has bought CerSci Therapeutics.

    Immunomedics Inc. (IMMU) stock soar by 6.37% to $44.56. The most recent rating by Barclays, on May 05, 2020, is at an Overweight. Immunomedics stock has fluctuated between the 52-weeks low and high range of $8.80-$44.91, respectively.

    Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) last closed at $114.22, in a 52-week range of $72.67 to $121.50. Analysts have a consensus price target of $141.47.

    Seres Therapeutics Inc. (NASDAQ: MCRB) stock soar by 8.21% to $26.49.  It has moved upward 951.19% from its 52-weeks low and moved down -19.73% from its 52-weeks high. The most recent rating by Piper Sandler, on August 18, 2020, is at an Overweight.

    Rhythm Pharmaceuticals Inc. (NASDAQ: RYTM) last closed at $29.51 after gaining +2.54 on Monday. It has a 52-week range of $12.99 to $27.97. It has moved up 127.17% and 5.51% from its 52-weeks low and high, respectively. Analysts have a consensus price target of $32.88.

    Geron Corporation (NASDAQ: GERN) Shares headed rising, higher as much as 6.22%. The most recent rating by Stifel, on August 03, 2020, is at a Buy.

    Sesen Bio Inc. (NASDAQ: SESN) rose 6.19% after gaining more than $0.06 on Monday. SESN’s stock has changed between the 52-weeks low range of $0.37 and a high range of $1.52. It has moved up and moved down 178.38%, -33.12% from its 52-weeks low and high, respectively.

    Kadmon Holdings Inc. (NYSE: KDMN) last closed at $5.00, in a 52-week range of $2.04 to $5.50. It has traded up 145.10% from its 52-weeks low and traded down -9.09% from its 52-weeks high. Looking at its liquidity, its current ratio is 6.20.

    Evofem Biosciences Inc. (EVFM) stock soar by 6.07% to $3.32 after Evofem Biosciences to Participate in Four Upcoming Investor Conferences. The most recent rating by Morgan Stanley, on August 20, 2020, is at an Equal-weight.

    MacroGenics Inc. (NASDAQ: MGNX) Shares headed rising, higher as much as 6.01%. The most recent rating by Citigroup, on August 03, 2020, is at a Neutral.

    Iovance Biotherapeutics Inc. (NASDAQ: IOVA) last closed at $33.33, in a 52-week range of $17.67 to $41.49. Analysts have a consensus price target of $47.08.

    Surface Oncology Inc. (NASDAQ: SURF) stock soar by 5.01% to $6.50. The most recent rating by Wedbush, on August 28, 2020, is at an Outperform.

    Fortress Biotech Inc. (NASDAQ: FBIO) Shares headed rising, higher as much as 4.63% after LD Micro — 360 Companies Set to Present this Week. The most recent rating by B. Riley FBR, on December 18, 2019, is at a Buy.

    Synthetic Biologics Inc. (SYN) last closed at $0.64, in a 52-week range of $0.25 to $0.75. It has moved up 153.17% from its 52-weeks low and moved down -14.87% from its 52-weeks high.

    Zogenix Inc. (NASDAQ: ZGNX) stock soar by 4.37% to $23.67. The most recent rating by Raymond James, on August 25, 2020, is at an Mkt perform. ZGNX has traded up and down 42.16% and -58.63% from its 52-weeks low and high range.

    Dynavax Technologies Corporation (NASDAQ: DVAX) rose 4.18% after gaining more than $0.24 on Monday. Dynavax to Present at the H.C. Wainwright Virtual 22nd Annual Global Investment Conference.

     

  • Stocks to watch as Market Sentiment Turns Positive Amidst a Drop in Uncertainty

    Stocks to watch as Market Sentiment Turns Positive Amidst a Drop in Uncertainty

    The markets are upbeat this morning with the S&P 500, the Dow and the NASDAQ all in the green. This comes amidst analysts’ projections that the uncertainty that characterized the market since March is easing up. When the COVID-19 lockdowns started, the markets entered into deep uncertainty with corporations suspending their projections for future earnings.

    However, this has since changed. Many companies are now offering favourable projections for the rest of the year. Many of them have also proven to be quite resilient and reported strong earnings over the last quarter. With the lockdowns now easing up in the U.S and worldwide, optimism is high that the economy will rebound.

    The optimism is further enhanced by the fact that biotech companies, and research institutions, working on a COVID-19 vaccine are giving positive pointers to a possible vaccine before the end of the year.

    Treatments are also coming up, and the U.S FDA has already approved the use of plasma in the treatment of COVID-19 citing its high efficiency. In this environment of high optimism in the U.S economy, stocks that have good news around them this morning are gaining exponentially. Some of the biggest stock gainers this morning are:

    Aimmune Therapeutics Inc [NASDAQ: AIMT]

    Aimmune Therapeutics Inc is a top performer this morning and is up by over 160%. This follows news that Nestle had agreed to buy the company in a $2.6 billion deal. Under the deal, Nestle will buy the company at $34.50 per share, representing a premium compared to the stock’s trading price of $12.60 as of Friday’s close.

    In a statement, Nestle stated that Aimmune’s Palforzia is the world’s first and only FDA-approved treatment for peanut reactions in children aged between the ages of four and seventeen. Prior to the takeover, Nestle already owned 26% of Aimmune.

    Transatlantic Petroleum Ltd [NYSE: TAT]

    Transatlantic Petroleum Ltd is another top performer this morning and is up by 33%. This follows the company’s announcement that its shareholders had approved the payment of dividends on the company’s series A preferred common stock.

    The dividends are payable on the 15th of September 2020.  This has triggered optimism in the company’s health and hence the current price rally ahead of the upcoming earnings season.

    Vivopower International PLC [NASDAQ: VVPR]

    Vivopower International PLC is another stock showing lots of potential in early morning trading. After a massive rally on Friday that saw it close the day with gains of 69%, the stock is in the green pre-market. It’s momentum today is price action driven days after the company reported unaudited results showing revenue growth of 12% for the year ending  30th June 2020.

     

  • FSD Pharma [NASDAQ: HUGE] Decides To File IND For FSD201 To Treat COVID-19 Patients

    FSD Pharma [NASDAQ: HUGE] Decides To File IND For FSD201 To Treat COVID-19 Patients

    FSD Pharma Inc. [NASDAQ: HUGE] has submitted an Investigational New Drug (IND) application to the US Food and Drug Administration (FDA) to gain approval for the use of FSD201 to treat COVID-19 patients, the company disclosed today.

    FSD201 has anti-inflammatory properties that are proven to be useful to avoid cytokines storm linked with acute lung injury in hospitalized COVID-19 patients.

    FSD share traded up 6.23% during the trading session of Friday. This company has an opening price of $3.04 and closed at $3.24. HUGE has a day low and high range of $3.00-$3.25, respectively.

    It had a trading volume of 475.46K as compared to the average volume of roughly 932.84K. This company has a total market capitalization of 42.06 million.

    In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $2.39 and a high of $17.49. Its shares traded up 35.56% from its 52-weeks low and traded down -81.47% from its 52-weeks high.

    The FSD201 COVID-19 trail will be conducted at 25-30 sites to check the safety and efficacy of FSD201. Furthermore, the Board of Directors has given the official approval regarding the issuance of additional 369,255 class B subordinate voting shares to certain of the directors, officers, employees, and consultants of the company. This step is taken to provide the share-based compensation.

    Additionally, it is also disclosed that Dr. Raza Bokhari has got 805,802 Class B Shares instead of cash compensation for his services as CEO and Executive Co-Chairman of the Company. Dr. Bokhari has now gained ownership of approx. 8.5% of issued and outstanding class B shares. He also has control over  33.3% of the outstanding Class A multiple voting shares of the company.

  • Stocks to Watch amidst Mixed Market Sentiment after Fed Policy Framework

    Stocks to Watch amidst Mixed Market Sentiment after Fed Policy Framework

    It’s a mixed day in markets today, after yesterday’s news from the Federal Reserve. The FED Chairman Jeremy Powell offered a roadmap for the raising of interest rates in 2020. This led to an instant drop in the value of most stocks.

    That’s because investors are still apprehensive of the risks that this poses to the economy. The economy is just reopening after a pandemic shutdown that has devastated most sectors of the economy. However, the Fed has downplayed the impact of the interest rates increase and offered a rationale for it. Powell stated that the increase in interest rates was meant to cushion the economy in the future.

    He stated that consistently maintaining low inflation would diminish expectations of inflation. This, in turn, would lower the Fed’s ability to stabilize the economy by cutting interest rate. It is on this basis that the Federal Open Market Committee was unanimous in its approval of an allowance for inflation to rise to slightly over 2% for a while.

    While this has dampened the market to some extent, the markets are still supported by hopes of a COVID-19 vaccine. Several companies are already in advanced stages in the push for a workable vaccine. Success on this front would counteract the negative effects of an increase in interest rates since it would restart the economy across all sectors. In this environment of mixed sentiment, there are stocks that are rallying this morning. Some of the stocks that are in gains ahead of markets are as below:

    Just Energy Group Inc [NYSE: JE]

    Just Energy Group Inc is a top performer this morning and is up by over 80%. This follows the company’s announcement that it had approved a recapitalization plan. The company is part of the company’s plan to de-risk and achieve more sustainable growth.  Through the recapitalization, the company announced that the move would improve the company’s finances by injecting more than $100 million and cut on net debts and the costs of preferred shares by $520 million. The improved outlook could play a role in the stock’s performance throughout the day.

    Nortech Systems Incorporated [NASDAQ: NSYS]

    Nortech Systems Incorporated is up by over 50% this morning. This comes after the company announced that it had completed a sale and leaseback deal.  The deal is for the company’s manufacturing facilities that are located in Bemidji and Mankato for $6.3 million. The company’s CEO Jay D. Miller stated that he was happy with the deal’s success. He added that the deal had generated cash that had improved the company’s balance sheet and put it in a position to make strategic investments.

    MICT Inc [NASDAQ: MICT]

    MICT Inc is another top performer this morning and is up by 20%. This is momentum-based and follows the company’s announcement early last week that it had received its first order for its video telematics product.

     

  • Stocks to Watch as Markets Await Fed Chairman Remarks

    Stocks to Watch as Markets Await Fed Chairman Remarks

    It’s a weak start to the markets as investors await news from the Federal Reserve Chairman on the steps that the Fed is taking to bump inflation to its set target of 2%.

    Speculation is rife that he will only offer a vague idea of the steps that the monetary policy committee will take.  This is largely due to data consistently showing underlying economic weakness.  Recent data on retail sales and consumer spending has shown that the core economic indicators are weak.

    This also comes at a time when the S&P 500 has hit record highs raising fears that the markets are overvalued at the moment. In this environment of perceived high risks, money continues to flow into big tech stocks such as Facebook and Amazon. Investors are optimistic that in the event that the market corrects, big tech has what it takes to absorb the impact.

    These stocks have already navigated the last few months of the COVID-19 pandemic well. Despite the dampened mood in the market, there are non-big tech stocks that have started the day on a high note. Some of them are as below:

    Urban Tea Inc [NASDAQ: MYT]

    Urban Tea is up by over 1000% this morning. The gains comes after the company announced its 1:10 reverse split that has now taken effect. Essentially this means that the company’s stock is now trading at 10 times the price it was trading at before the split.

    However, the split does not in any way affect the shareholding of the investors. Every investor will still hold the same percentage of the stock that they held before the stock. Through the reverse split, the company’s shares have shrunk from a total of 79,438,648 to about 7,944,211. However, the reverse split has not affected the company’s preferred shares that still hold at 5 million shares.

    Moxian Inc [NASDAQ: MOXC]

    Moxian Inc is another stock that has started the day on a high note. This comes after the company announced that it had agreed the terms for a merger with Btab Group Inc.  Under the deal, the new entity will offer 59 million of common stock, and 50 million class A shares that have restricted rights to vote. The merged entity will have a valuation of $400 million and over $40 million in revenues annually.

    VBI Vaccines Inc [NASDAQ: VBIV]

    This is another big mover this morning and has started the day up by over 30%. This comes after the company announced its pre-clinical COVID-19 program data and candidates selection for its one-dose vaccine candidate. This has created excitement around the stock in early morning trading.

     

  • Stocks to Watch amidst Mixed Market Sentiment

    Stocks to Watch amidst Mixed Market Sentiment

    The markets are headed for a weak start to the day this morning. On one hand, there is the optimism of an easing of trade tensions between the U.S and China. At the beginning of the week, negotiators said there was positive progress on the trade talks.

    The optimism is increased by news that China will be buying a large amount of US soya beans. The positive momentum is also increased by hopes of an end to the restrictions that have shrunk global trade, especially in service-related industries. This week the US FDA approved a COVID-19 treatment, and there are hopes that several vaccines are on the way. However, there are also fears that the effects of the pandemic run deeper. This is evident in the latest consumer data.

    According to the Consumer Confidence Index data, confidence dropped in August to its lowest in 6 years. This is a negative signal to the US economy since two-thirds of it runs on consumer spending. This mixed outlook has seen money continue to flow into big tech stocks.

    This is on the strength of these companies in their core markets. These companies also have the resources and the infrastructure to keep innovating and remain strong despite the prevailing circumstances. Despite the mixed outlook, there are several stocks that look set to start the day on a high note. Some of the big gainers pre-market that could dominate in the day are as below:

    PolyMet Mining Corporation [NYSE: PLM]

    PolyMet Mining Corporation is a top performer this morning and is up by over 700%. This follows the actualization of a 1:10 share split. The reverse share split was approved by the company’s board on the 21st of August. At the time the company stated that after the split, the total issued and outstanding shares will drop from 1,0006,997,495 to 100,699,749. The split does not negatively impact on shareholders as everyone will retain the percentage of stock they held before the reverse split.

    Immunic Inc [NASDAQ: IMUX]

    Immunic Inc is another top performer this morning and is up by 19% pre-market. This is largely a price action move, after the stock’s correction over the last few days. Several days ago, the company announced that it had dosed its first healthy volunteer in his phase 1 clinical program for its IMU-856. The company announced that in pre-clinical studies, the compound had shown a paradigm shift in treating gastrointestinal disease.

    Heat Biologics Inc [NASDAQ: HTBX]

    Heat Biologics Inc is a top performer this morning and is up by over 20%.  This comes after the company announced that it announced that it had published pre-clinical results on a COVID-19 vaccine. With the increased hopes of a COVID-19 vaccine, this stock stands to gain momentum through the day.

     

  • High Flying Plasma Pharmaceuticals as FDA Approves Plasma-based COVID-19 Treatment

    High Flying Plasma Pharmaceuticals as FDA Approves Plasma-based COVID-19 Treatment

    The markets are up this morning driven by news that the U.S had approved a COVID-19 treatment. Yesterday, the U. S FDA issued an emergency use authorization for the use of blood plasma from people who had recovered from COVID-19 as a treatment.

    In a statement, the FDA said that on the basis of available scientific evidence, the blood plasma of people who had recovered from COVID-19 had benefits that outweighed any potential risks. The statement further stated that the Emergency Use Authorization gave the green light for the distribution of the product in the U.S for use by healthcare providers to treat people hospitalized with COVID-19.

    Commenting on the development, President Trump has stated that the treatment had so far cut mortality rates by 35%, quoting a study by the Mayo Clinic. Over the weekend, it was also reported that the President was considering fast-tracking a vaccine that was being developed by Oxford University in the U.K.

    All these news have led to a surge in optimism across the financial markets, and major U.S indices are strong pre-market. In this environment of high optimism, plasma-related biopharma companies are rallying. Some of the biggest gainers this morning are as below:

    ADMA Biologics Inc [NASDAQ: ADMA]

    ADMA Biologics is flying high this morning after the FDA approved the use of recovered COVID-19 patients’ plasma as a treatment.

    At the time of writing, the stock was up by 70% and gaining. The company is specialized in making plasma biologics for the treatment of a wide array of immune deficiencies and infectious diseases. With the use of plasma approved, investors are optimistic that with its infrastructure in plasma-based treatments, this company stands to benefit significantly in the foreseeable future.

    ThermoGenesis Holdings Inc [NASDAQ: THMO]

    ThermoGenesis Holdings Inc is another plasma-treatment biotech company that is rallying this morning.  The company has the infrastructure for it, and investors are optimistic that it stands to benefit from the approved treatment.

    The company operates in two segments and one of them is involved in automated cell separation of progenitor and stem cells taken from umbilical cords blood. It is also involved in the preservation of such blood for clinical applications.

    Liminal Biosciences Inc [NASDAQ: LMNL]

    This is another top performer this morning and is up by over 60% in pre-market trading. The company operates in two segments and one of them is called Plasma Derived Therapeutics. This segment of the company has a plasma protein purification system that is used in the extraction of protein therapeutics from plasma.

     

  • Stocks to Watch as Caution Grips the Markets

    Stocks to Watch as Caution Grips the Markets

    The markets are headed to a weak start this morning. This comes amidst rising concerns that the market is overvalued after the S&P 500 hit an all-time despite the ongoing pandemic. The uncertainty comes after labour data consistently showing that the U.S economy was still struggling from the effects of the COVID-19 pandemic The FOMC recent minutes also point to tempered optimism.

    This environment has seen investors pile money into tech stocks that have an element of dominance in their markets, or have innovations that could help drive up their market value. Despite the current market environment, there are non-big tech stocks that are gaining momentum before markets open. Some of the top performers ahead of markets are:

    Eyepoint Pharmaceuticals Inc  [NASDAQ: EYPT]

    Eyepoint Pharmaceuticals Inc is a top performer pre-market and is up by 49%. This follows the company’s announcement that it had received $9.5 million in upfront payments for an expanded license agreement from Ocumension Therapeutics.

    The company stated that the deal was for the commercialization of YUTIQ® and DEXYCU®  in South Korea and other markets in Southeast Asia. The payment is supposed to be full compensation for all development, regulatory and commercial sale transactions. Commenting on the deal, CFO  George Elston stated that Ocumension was a major partner and shares the company’s core beliefs of pushing YUTIQ® and DEXYCU® in the treatment of several unmet medical needs.

    He added that the company was happy to expand its partnership with Ocumension in the Asian market and that the money received would be used to expand the company’s clinical projects that are currently being developed. On his part, Ocumension CEO Ye Liu stated that they looked forward to the continued development of the two products. Since the deal is a revenue boost for Eyepoint, the company is uniquely positioned for gains all through the day.

    Oragenics Inc [NYSE: OGEN]

    Oragenics Inc is another top performer pre-market and is currently up by 11 %. This follows the company’s announcement that it had signed a process development and a manufacturing deal with Avid Bioservices for a COVD-19 vaccine. Under the deal, Avid will offer Oragenics support for analytical methods drug manufacturing and method development for Terra Cov-2 (a COVID-19 vaccine).

    Commenting on the deal, Oragenics CEO  Alan Joslyn stated that with Avid’s infrastructure capabilities, they are the right partners for the development. This deal is likely to support this project all through the day.

    ShiftPixy Inc [NASDAQ: PIXY]

    ShiftPixy is up in pre-market trading and is currently up by 11%. This comes after the company announced that it was relocating its corporate headquarters to Miami, Florida. Co-founder Scott Absher stated that Miami was on their roadmap for

     

     

  • High Potential Stocks to Watch Despite Weak Market Sentiment

    High Potential Stocks to Watch Despite Weak Market Sentiment

    It’s a weak start to the markets as investors await weak labor data from the labor department. Investors are also digesting the cautious data from the Federal Reserve about the economy. Members of the Federal Open Markets Committee are in agreement that the current health crisis could continue to weigh heavily on the U.S economy including on employment and inflation.

    The Federal Reserve was also in agreement that the pandemic would pose a risk to the economy in the near-term. This has created an element of uncertainty in the markets, raising fears that equities could be highly overvalued at the moment. Despite the dampened mood, there are stocks that are doing well this morning and have the potential to do well all through the day. Some of the stocks that posed for major gains in the day are as below:

    OpGen Inc [NASDAQ: OPGN]

    OpGen Inc has started the day on a high note and continues the momentum that started earlier in the day. This follows the company’s announcement that its German subsidiary has received certification for its COVID-19 test kit.

    Commenting on the development, CEO Oliver Schacht stated that the launch of this product as part of the company’s commitment to supporting its customers and distributors of COVID-19 test kits. The COVID-19 pandemic continues to ravage the world economy and testing is one of the ways that the pandemic is being tackled. In essence, by advancing its testing tools in the EU market, the company is uniquely positioned for growth.

    AirNet Technology Inc [NASDAQ: ANTE]

    This is another big mover this morning and started, gaining upside momentum in pre-market trading. The stock’s strong gains follow the company’s announcement that it had got a capital injection from Dragonpass Co.Ltd. The agreement between the two companies stated that the investment would be in installments and that the next installment would be around RMB 20 million.

    CEO, Herman Guo stated that the company was happy with the investment and that it would use it to fuel growth, and open new opportunities. Given that the markets are currently choppy due to the COVID-19 pandemic, a capital injection is likely to keep investor interest in this stock high all through the day.

    Xcel Brands Inc [NASDAQ: XELB]

    Xcel Brands Inc is another top performer this morning. This comes after the company released impressive  Q2 results. The company reported that it had improved its balance sheet in the quarter and that it was still on track to cut on expenses. Despite the COVID-19 pandemic, the company announced that it maintained positive cash flows in the quarter. This is likely to keep the stock gaining all through the day.