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Tag: LMND

  • The Fintech Lemonade Inc. (LMND) is making Substantial Progress but Challenges still at Large

    The innovative insurance company capitalizing on artificial intelligence, Lemonade Inc. (LMND) has been on a bumpy ride with shares 87% farther from all-time highs. While many challenges still exist amid the persistent financial net losses and wider tech sell-off, the company has been making substantial progress and growing nicely.

    The latest earnings report from the fintech company brought about both good and bad news causing the stock to run wild with an uptick followed by a downtrend. While investors initially celebrated the beat earnings and revenue along with improvement across most metrics, they later started worrying about its underwriting which is still much farther from the target 75% loss ratio. The earnings proved hard to digest for investors as they remained uncertain whether to be happy about the much progress or concerned about the challenges ahead.

    On May 18, LMND stock was down by 3.69% in the premarket to trade at $20.38 at the time of writing. This downtrend came after the stock surged by 9.41% in the prior trading session which had it valued at $21.16 a share.

    Let’s have a look at the bright and not-so-bright side of the latest earnings report shared on May 9, 2022.

    LMND’s Q1 2022 Performance

    On the Bright Side

    According to the financial results, the fintech company’s business grew impressively in the first quarter with in-force premiums climbing 66% YOY. A 37% increase in the number of customers on top of a 22% increase in premium per customer resulted in in-force premiums of $419.0 million in Q1 2022. Thus, with a customer count of 1,504,197, the premium per customer reached $279 at the end of the quarter. Subsequently, gross earned premiums surged 71% YOY to $96 million.

    Source: The Motley Fool

    Furthermore, marking a stark 88.5% increase in YOY was LMND’s revenue which came at $44.3 million against the prior year’s $23.5 million. The quarterly revenue beat the consensus estimate by 2.43%.

    On the earnings front, the company came out with a loss of $1.21 per share against the expected $1.43 a share. The loss widened from the comparable period’s $0.81 per share but was better than expected.

    The adjusted gross profit soared by 226% YOY while the cash, equivalents, and investments were $1.01 billion at the end of the quarter.

    No-So-Bright Side

    Raising concerns was the company’s underwriting i.e. its loss ratio which demonstrates how much of a policy it pays in claims. While the loss ratio did show some improvement YOY at 90% against 121% last year, it is still very far from its target of 75%.

    Source: Q1 Shareholder Letter

    The metric had been improving sequentially before last year’s Q1 which brought a big challenge to the continued improvement due to the Texas freeze. CEO Dan Schreiber attributed the still vast loss ratio to inflation causing a rise in claim payouts amid the lagging policy rate increase, in the letter to shareholders.

    Moreover, total operating expenses rose 68% YOY to $92.5 million due to higher expenses in general and technology development. Consequently, the adjusted EBITDA loss also widened to reach $57.4 million against the comparable $41.3 million.

    Thus, with the higher loss ratio, and increasing operating and EBITDA losses, LMND will surely run out of cash soon even if the sum is large.

    LMND’s Future Guidance

    Due to the Russia-Ukraine conflict, geopolitical and economic turmoil, and peaking inflation on top of rising interest rates, the company (excluding the Metromile acquisition set for Q2 2022) expects:

    Q2 2022 Fiscal 2022
    In Force Premium $445-$450 million $535-$545 million
    Gross Earned Premium $103-$105 million $426-$430 million
    Adjusted EBITDA $(70)-$(65) million $(280)-$(265) million
    Revenue $46-$48 million $205-$208 million

    Analysts were forecasting $51.35 million in Q2 revenues and $213.48 million for the full year. However, the pending acquisition of Metromile in the ongoing quarter would accelerate Lemonade Car rollout and contribute to its financials which was not included in the company guidance.

    Conclusion

    The AI-powered fintech company while showing promising progress and continuous improvement still lags on certain key metrics. While it expects to bring down the loss ratio to 75%, it is still far off at 90% and the company’s 2022 guidance also came below the expected. Otherwise, the company has been demonstrating high growth and improved performance YOY.  Moreover, with the Metromile acquisition in sight, LMND might just produce better-than-expected financials if it continued to bring down the loss ratio and shrinks net loss.

  • Q4 2021 Financial Results: Lemonade Inc. (LMND) stock Took a Harsh Hit After Hours

    On February 23, Lemonade Inc. (LMND) declared its Q4 2021 financial results along with guidance for 2022. Resultantly, the stock took a harsh hit in the after-hours session on Wednesday.

    During the regular session, the stock varied between a high of $25.04 and a low of $22.91. At 3.73 million shares, 173% of the average volume, LMND stock closed the session at $22.95. The stock suffered a loss of 6.40% during the regular session. LMND continued to lose in the after-hours when the results were announced. The stock lost a further 19.04% in the after-hours to reach an $18.58 per share value. It was only during the regular trading that the stock had reached a new 52-week low, but it went further down to break the low in the after hours. Hence, currently, LMND has reached down to the latest 52-week low of $18.58.

    The insurance services provider, Lemonade Inc. is a holding company founded in 2015. Currently, its 61.64 million outstanding shares trade at a market capitalization of $1.51 billion. With a year-to-date loss of 45.50%, LMND stock has declined by 26.56% in the past five days alone.

    LMND’s Q4 2021 Financials

    In Q4 2021, the company had revenue of $41.0 million with a 100% increase YOY.

    Moreover, the company incurred a net loss of $70.3 million in Q4 2021, against $33.9 million in the year-ago quarter. Thus, the net loss per share was $1.14 and $0.60 in Q4 of 2021 and 2020, respectively.

    Furthermore, the adjusted EBITDA loss was $51.2 million in Q4 2021 with an increase of $21.5 million from the year-ago quarter.

    LMND ended the quarter with cash, cash equivalents, and investments of $1.1 billion.

    Additionally, the In Force Premium and Gross Premium increased by 78% and 79% YOY, respectively.

    2022 Outlook

    For fiscal 2022, the company expects revenue between $202 and $205 million with an adjusted EBITDA loss of $290-$275 million.

    In addition, for Q1 2022, LMND expects revenue between $41 and $43 million with an adjusted EBITDA loss of $70-$65 million.

    LMND’s Metromile Acquisition

    Previously, in November 2021, the company had announced a definitive agreement for the acquisition of Metromile in an all-stock transaction. Metromile is a data science company with a focus on auto insurance.

    On February 01, Metromile announced that its stockholders have approved the merger agreement with LMND in its Special Meeting of Stockholders.

    Presently, the transaction is expected to close in the second quarter of 2022.

  • Early Morning Vibes: Top 4 Stocks Trending on Wednesday

    On December 29, the American stock indices closed in the red. The S&P 500 at the beginning of the session renewed its all-time high, but by its close it dropped 0.22% to 3727 points, the Dow Jones also lost 0.22%, the NASDAQ fell 0.38%. The news background remained calm, but investors preferred to fix some of their positions. The healthcare sector took the lead in growth with a result of + 0.44%, while the real estate sector corrected by 0.71%.

    Company news

    Fulgent Genetics (FLGT: + 8.7%) will provide COVID-19 diagnostic tests to New York City students and educational workers.

    Activist investor Third Point sent a letter to Intel management (INTC: + 4.9%) urging them to consider changes to the company’s strategy.

    Arcturus Therapeutics (ARCT: -54.2%) has published the results of the first phase of clinical trials of a COVID-19 vaccine, which turned out to be weak.

    Today, world stock exchanges are showing mostly positive dynamics. Investors are focusing on the prospects for increasing the volume of direct payments to Americans. Senate Majority Leader Mitch McConnell has blocked an attempt to vote on raising the benefit from $ 600 to $ 2,000, so the timing of the discussion remains uncertain. A number of Republicans do not support the president’s initiative to increase the lump sum, pointing to the problem of the budget deficit and high public debt, which hinders the increase in government spending. In the meantime, Americans will start receiving checks for $ 600 today as part of the previously approved economic stimulus program.
     

    On the front of the fight against COVID-19 in the United States, there is no significant positive so far. Colorado has recorded the first patient with a British modification of the coronavirus. The increase in incidence has slowed slightly, but a new outbreak is forecast after the holidays. The number of hospitalized in the United States already exceeds 124 thousand, and the trend remains negative. The vaccination campaign is very slow: so far only 2.13 million have been vaccinated. As Joseph Biden noted, if the process is not accelerated, it may take years, not months, to complete vaccination. This is a significant risk for stocks, but for now investors tend to believe that the acquisition of mass immunity can be accelerated.

    Today Top Movers

    AstraZeneca PLC ADR (AZN), a Drug Manufacturers company, soared about 2.38% ‎at $51.09 in pre-market trading today following its Covid-19 vaccine approval in the U.K.

    Guardion Health Sciences Inc (GHSI) share price jumped 7.029% to $0.41 during early morning ‎trading session on Wednesday following the declaration of appointment of Bret Scholtes, as its President and Chief Executive Officer.

    NXT-ID Inc (NXTD) stock ascended 9.16% at $1.43 in the pre-‎market trading today. 

    American Battery Metals Corp USD (ABML) gained over 1.43% at $1.42 in pre-market ‎trading on Wednesday.‎

    Top Upgrades & Downgrades

    AlphaValue turned bullish on AstraZeneca PLC ADR (AZN)‎, upgrading the ‎stock to “Add”.

    ‎Baird turned bullish on Caterpillar Inc. (NYSE: CAT), reiterating the stock at ‎‎“Outperform” but lifting the target from $206 to $220, representing potential ‎upside of 24.54% from Tuesday’s close.

    Daiwa turned bullish on Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX)‎ , initiating the stock at ‎‎“Outperform” and assigning the target to $250, representing potential upside ‎of 7.07% from Tuesday’s close.

    Latest Insider Activity

    Lemonade Inc. (LMND) Chief Insurance Officer Peters John Sheldon announced the sale of shares taking place on Dec 28 at $118.49 for some 5,000 shares. The total came to more than $0.59 million.

    Pinterest Inc. (PINS) Chairman, President, CEO, Co-F Silbermann Benjamin sold on Dec 24 a total 105,000 shares at $71.55 on average. The insider’s sale generated proceeds of almost $7.51 million.

    Cellectar Biosciences Inc. (CLRB) Chief Business Officer Longcor Jarrod declared the purchase of shares taking place on Dec 28 at $1.35 for some 29,630 shares. The transaction amount was around $40001.

    TRACON Pharmaceuticals Inc. (TCON) 10% Owner Opaleye Management Inc. bought on Dec 22 a total 2,293,371 shares at $8.06 on average. The purchase cost the insider an estimated $4.0 million.

  • Pre-Market Cues: 30 Stocks Roaring for Change On December 14th

    Sonoma Pharmaceuticals Inc. (SNOA) stock plunged -7.53% to $8.1 in the pre-market trading after reporting partnership with Crown Laboratories to launch Microcyn® technology-based anti-itch over-the-counter products.

    Livent Corporation (NYSE: LTHM) shares are trading up 3.6% at $17.0 at the time of writing. Company’s 52-week ranged between $3.95 to $17.53. Analysts have a consensus price target of $16.50.

    Lexicon Pharmaceuticals Inc. (NASDAQ: LXRX) shares are trading down -5.45% at $2.95 at the time of writing after declaring offering of common stock. Company’s 52-week ranged between $1.03 to $5.31.

    NextDecade Corporation (NEXT) is down more than -7.25% at $3.2 in pre-market hours Monday December 14, 2020. The stock had jumped over 38.00% to $3.45 in the last trading session.

    FAT Brands Inc. (FAT) tumbled over -4.06% at $7.57 in pre-market trading today following the announcement from the company that it has entered into an agreement to combine with Fog Cutter Capital Group Inc. (FCCG), the Company’s controlling stockholder.

    Recro Pharma Inc. (REPH) stock soared 3.21% to $3.05 in the pre-market trading. The most recent rating by Stephens, on October 17, 2019, is an Overweight.

    Ampio Pharmaceuticals Inc. (AMPE) stock moved up 3.33 percent to $1.55 in the pre-market trading.

    ReTo Eco-Solutions Inc. (RETO), a Building Materials company, rose about 3.91% at $0.665 in pre-market trading Monday.

    Yiren Digital Ltd. (YRD) lost over -5.36% at $3.0 in pre-market trading Monday December 14, 2020. The firm recently announced that it has entered into two collaborative research agreements to explore new clinical indications for its immunomodulatory drug, Ampion™.

    Before the trading started on December 14, 2020, Sabre Corporation (SABR) is up 3.46% to reach $11.35. It has been trading in a 52-week range of $3.30 to $23.25.

    NantHealth Inc. (NH) is up more than 1.74% at $3.5 in pre-market hours Monday December 14, 2020. The company recently presented during a poster session at the San Antonio Breast Cancer Symposium (SABCS) new significant findings around the adoption of trastuzumab biosimilars in the treatment of HER2-positive breast cancer and the potential clinical and cost benefits of biosimilars. The stock had jumped over 22.42% to $3.44 in the last trading session.

    Torchlight Energy Resources Inc. (TRCH) stock soared 15.79% to $0.88 in the pre-market trading. The most recent rating by ROTH Capital, on March 13, 2020, is a Neutral.

    NIO Limited (NYSE: NIO) shares are trading down -6.38% at $39.3 at the time of writing following the announcement of pricing of offering of 68,000,000 American Depositary Shares. Company’s 52-week ranged between $2.11 to $57.20. Analysts have a consensus price target of $59.

    Lightbridge Corporation (LTBR) is down more than -2.4% at $3.66 in pre-market hours Monday December 14, 2020. The stock had jumped over 12.28% to $3.75 in the last trading session.

    Foresight Autonomous Holdings Ltd. (FRSX) stock moved up 2.31 percent to $1.77 in the pre-market trading after its affiliate, Rail Vision Ltd., has received an order from Knorr-Bremse Systeme für Schienenfahrzeuge GmbH, an affiliate of Knorr-Bremse AG (Frankfurt: KBX), for two samples of their light rail vehicle (LRV) system.

    Before the trading started on December 14, 2020, Hennessy Capital Acquisition Corp. IV (HCAC) is up 2.32% to reach $20.75. It has been trading in a 52-week range of $9.21 to $22.43.

    Inseego Corp. (INSG) stock soared 10.36% to $15.18 in the pre-market trading after reporting that the company is expanding its global footprint in Japan with the launch of its industry-leading 5G MiFi® M2000 mobile hotspot. The most recent rating by ROTH Capital, on August 06, 2020, is a Neutral.

    Mechel PAO (MTL) is down more than -3.66% at $1.84 in pre-market hours Monday December 14, 2020. The stock had jumped over 11.05% to $1.91 in the last trading session.

    JinkoSolar Holding Co. Ltd. (NYSE: JKS) shares are trading up 3.58% at $54.9 at the time of writing after declaring an update to 2020 annual general meeting agenda. Company’s 52-week ranged between $11.42 to $90.20. Analysts have a consensus price target of $55.

    Before the trading started on December 14, 2020, CureVac N.V. (CVAC) is up 6.7% to reach $125.99. It has been trading in a 52-week range of $36.15 to $151.80.

    Xeris Pharmaceuticals Inc. (XERS) grew over 2.84% at $4.7 in pre-market trading today after recent proclamation from company that the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) has adopted a positive Opinion for Ogluo™ (glucagon).

    Teligent Inc. (NASDAQ: TLGT) shares are trading up 85.54% at $1.17 at the time of writing. Company’s 52-week ranged between $0.46 to $6.46. Analysts have a consensus price target of $2.

    Marathon Patent Group Inc. (MARA) gained over 15.58% at $5.49 in pre-market trading Monday December 14, 2020. The firm recently announced a contract with Bitmain to purchase 10,000 Antminer S-19j Pro ASIC Miners.

    Sundial Growers Inc. (NASDAQ: SNDL) shares are trading up 4.64% at $0.53 at the time of writing after reporting that it has received approval to transfer the listing of its common shares to the Nasdaq Capital Market. Company’s 52-week ranged between $0.14 to $3.88.

    Neos Therapeutics Inc. (NEOS) tumbled over -5.61% at $0.6532 in pre-market trading today. The company and Aytu BioScience, Inc. (AYTU) recently declared that they have entered into a definitive merger agreement pursuant to which Neos will merge with a wholly owned subsidiary of Aytu in an all-stock transaction.

    Arbutus Biopharma Corporation (ABUS), a Biotechnology company, rose about 6.14% at $4.15 in pre-market trading Monday. The healthcare firm lately declared additional clinical data from an ongoing Phase 1a/1b clinical trial (AB-729-001) with AB-729, its proprietary GalNAc delivered RNAi compound.

    Greenwich LifeSciences Inc. (GLSI) lost over -16.07% at $47.0 in pre-market trading Monday December 14, 2020 following the publication of a second poster for the GP2 Phase III clinical trial design for recurring breast cancer at the San Antonio Breast Cancer Symposium (SABCS) in a virtual format.

    Veru Inc. (VERU) is up more than 19.12% at $7.57 in pre-market hours Monday December 14, 2020 following the company revealed positive Phase 2 clinical trial results for enobosarm, for the treatment of endocrine and chemotherapy resistant ER+/HER2- metastatic breast cancer. The stock had jumped over 6.45% to $6.36 in the last trading session.

    NanoVibronix Inc. (NAOV) stock plunged -6.36% to $1.03 in the pre-market trading after reporting that it has expanded and replaced its original distribution agreement with Ultra Pain Products, Inc..

    SELLAS Life Sciences Group Inc. (NASDAQ: SLS) shares are trading down -11.23% at $7.43 at the time of writing following the pricing of $16.2 million registered direct offering. Company’s 52-week ranged between $1.46 to $19.38.

  • Market Movers: What changed for these 37 stocks while you were sleeping

    Market Movers: What changed for these 37 stocks while you were sleeping

    Immutep Limited (NASDAQ: IMMP) shares are trading down -26.19% at $4.2 at the time of writing after reporting that its Chinese partner, EOC Pharma will begin a new Phase II clinical trial in up to 152 metastatic breast cancer patients in China. Company’s 52-week ranged between $0.53 to $3.10. Analysts have a consensus price target of $7.75.
    SELLAS Life Sciences Group Inc. (SLS) stock plunged -24.18% to $13.39 in the pre-market trading. The most recent rating by Oppenheimer, on November 01, 2018, is an Outperform.
    Veru Inc. (VERU) tumbled over -11.89% at $5.26 in pre-market trading today. The firm recently declared that it has exclusively licensed phase 3 clinical stage targeted therapy for endocrine resistant metastatic breast cancer.
    Before the trading started on December 11, 2020, Professional Diversity Network Inc. (IPDN) is down -25.0% to reach $1.53. It has been trading in a 52-week range of $0.76 to $3.98.
    Neos Therapeutics Inc. (NEOS), a Drug Manufacturers – Specialty & Generic company, dropped about -16.36% at $0.6832 in pre-market trading Friday after announcing definitive merger agreement with Aytu BioScience, pursuant to which Neos will merge with a wholly owned subsidiary of Aytu in an all-stock transaction.
    Callon Petroleum Company (CPE) is down more than -0.53% at $15.0 in pre-market hours Friday December 11, 2020. The stock had jumped over 7.71% to $15.08 in the last trading session.
    C3.ai Inc. (AI) stock moved down -5.38 percent to $123.0 in the pre-market trading. The company lately declared the pricing of its initial public offering of 15,500,000 shares of its Class A common stock at a price of $42.00 per share.
    Hepion Pharmaceuticals Inc. (NASDAQ: HEPA) shares are trading up 2.21% at $1.85 at the time of writing. Company’s 52-week ranged between $1.00 to $6.90. Analysts have a consensus price target of $14.
    Regulus Therapeutics Inc. (RGLS) stock plunged -9.92% to $1.09 in the pre-market trading. The healthcare company revealed closing of $19.4 million private placement of equity. The most recent rating by B. Riley FBR Inc., on March 28, 2018, is a Neutral.
    Range Resources Corporation (RRC) stock plunged -4.79% to $7.35 in the pre-market trading. The most recent rating by Stephens, on November 16, 2020, is an Overweight.
    Zedge Inc. (AMEX: ZDGE) shares are trading up 23.7% at $6.68 at the time of writing after reporting first fiscal quarter revenue growth of 85% and record overall quarterly financial results. Company’s 52-week ranged between $0.66 to $4.70. Analysts have a consensus price target of $3.
    Hennessy Capital Acquisition Corp. IV (HCAC), a Shell Companies company, dropped about -5.82% at $20.72 in pre-market trading Friday.
    Editas Medicine Inc. (EDIT) grew over 0.84% at $67.4 in pre-market trading today. The company recently publicized submission of IND application for EDIT-301 with the FDA.
    Greenwich LifeSciences Inc. (GLSI) is down more than -9.3% at $65.5 in pre-market hours Friday December 11, 2020 following the today’s announcement of poster presentation on its GP2 phase III clinical trial design for recurring breast cancer. The stock had jumped over 26.48% to $72.22 in the last trading session.
    Silver Spike Acquisition Corp. (SSPK) is down more than -2.78% at $14.0 in pre-market hours Friday December 11, 2020. The stock had jumped over 37.27% to $14.40 in the last trading session.
    Biocept Inc. (BIOC) stock plunged -3.07% to $5.68 in the pre-market trading after declaring results from a prospective study showing Target Selector™ was highly accurate in monitoring HER2 alterations in patients with metastatic breast cancer. The most recent rating by Chardan Capital Markets, on November 14, 2017, is a Buy.
    W&T Offshore Inc. (NYSE: WTI) shares are trading down -6.02% at $2.5 at the time of writing following the firm provided an operational update regarding fourth quarter 2020 production. Company’s 52-week ranged between $1.07 to $6.10.
    Before the trading started on December 11, 2020, Platinum Group Metals Ltd. (PLG) is up 1.93% to reach $5.27. It has been trading in a 52-week range of $0.86 to $5.20.
    Aytu BioScience Inc. (AYTU), a Biotechnology company, dropped about -24.72% at $6.12 in pre-market trading Friday after the company and Neos Therapeutics declared definitive merger agreement pursuant to which Neos will merge with a wholly owned subsidiary of Aytu in an all-stock transaction.
    Torchlight Energy Resources Inc. (TRCH) stock soared 13.78% to $0.7226 in the pre-market trading. The most recent rating by ROTH Capital, on March 13, 2020, is a Neutral.
    Before the trading started on December 11, 2020, Energy Fuels Inc. (UUUU) is up 1.64% to reach $3.1 following the announcement from the company that that its President and CEO Mark S. Chalmers will be presenting live at the 13th Annual LD Micro Main Event investor conference on Monday, December 14, 2020 at 11:40 AM (EST). It has been trading in a 52-week range of $0.78 to $2.99.
    Ashford Hospitality Trust Inc. (NYSE: AHT) shares are trading up 8.04% at $4.3 at the time of writing. Company’s 52-week ranged between $1.27 to $29.44.
    ClearOne Inc. (CLRO) stock plunged -7.2% to $2.45 in the pre-market trading after declaring that it has appointed Chromasound PLC, based in Budapest, Hungary, as its newest distribution partner. The most recent rating by Singular Research, on August 16, 2018, is a Buy – long-term.
    ReWalk Robotics Ltd. (NASDAQ: RWLK) shares are trading up 3.7% at $1.4 at the time of writing after revealing a contract with a German private health insurance company to allow all eligible beneficiaries with spinal cord injury (SCIs) to apply for the procurement of a ReWalk 6.0 exoskeleton system. Company’s 52-week ranged between $0.41 to $2.71. Analysts have a consensus price target of $1.50.
    Progenity Inc. (PROG) grew over 9.32% at $4.34 in pre-market trading today. The firm recently reported closing of the convertible senior notes offering and partial exercise of the Initial purchaser’s option to purchase additional notes.
    Boxlight Corporation (BOXL) is down more than -7.69% at $1.8 in pre-market hours Friday December 11, 2020. The stock had jumped over 17.47% to $1.95 in the last trading session.
    Lemonade Inc. (LMND), a Insurance – Property & Casualty company, rose about 0.7% at $100.4 in pre-market trading Friday. The company recently declared that residents of France can now get renters insurance instantly, anytime, and from any device – as well as file claims and get paid in seconds through the Lemonade app.
    ObsEva SA (OBSV) lost over -2.54% at $2.3 in pre-market trading Friday December 11, 2020 after announcing topline 52-week PRIMROSE 1 and 76-week PRIMROSE 2 results of Yselty, in development for the treatment of women with heavy menstrual bleeding due to uterine fibroids.
    Amplify Energy Corp. (AMPY) is down more than -27.33% at $1.09 in pre-market hours Friday December 11, 2020 following the commencement of an underwritten public offering of 8,548,485 shares of its common stock by certain of its stockholders which are affiliates of Fir Tree Capital Management L.P. The stock had jumped over 11.94% to $1.50 in the last trading session.
    Before the trading started on December 11, 2020, Hoth Therapeutics Inc. (HOTH) is up 0.54% to reach $1.85 after the firm revealed that it has received approval to commence phase 1b clinical trial of BioLexa for the treatment of Atopic Dermatitis in humans. It has been trading in a 52-week range of $1.60 to $7.25.
    RMG Acquisition Corp. (RMG) grew over 6.6% at $22.29 in pre-market trading today after declaring stockholder meeting Date of December 28, 2020.
    Marathon Patent Group Inc. (MARA) is down more than -10.34% at $4.68 in pre-market hours Friday December 11, 2020. The company recently stated that it has entered into a contract with Bitmain to purchase 10,000 Antminer S-19j Pro ASIC Miners. The stock had jumped over 9.21% to $5.22 in the last trading session.
    Before the trading started on December 11, 2020, Inseego Corp. (INSG) is up 7.26% to reach $13.15. The firm today reported that the it is expanding its global footprint in Japan with the launch of its industry-leading 5G MiFi® M2000 mobile hotspot. It has been trading in a 52-week range of $3.91 to $15.25.
    Entera Bio Ltd. (ENTX) tumbled over -7.56% at $1.1 in pre-market trading today after revealing FDA approval of IND application for EB613 – an oral human Parathyroid Hormone (1-34) for the treatment of Osteoporosis.
    OncoCyte Corporation (OCX) stock moved up 3.23 percent to $2.24 in the pre-market trading. The firm recently reported that it will host a key opinion leader (KOL) call on the Company’s proprietary DetermaRx™ and DetermaIO™ molecular tests for cancer treatment selection on Tuesday, December 15, 2020 at 11:00am Eastern Time.
    ZK International Group Co. Ltd. (ZKIN) lost over -4.98% at $2.1 in pre-market trading Friday December 11, 2020 after declaring that it signed a letter of intent with Tuopeng Industrial, a prominent construction and real estate company.
    Before the trading started on December 11, 2020, Arbutus Biopharma Corporation (ABUS) is up 15.8% to reach $4.25. It has been trading in a 52-week range of $0.88 to $9.02 following the declaration of additional clinical data from an ongoing Phase 1a/1b clinical trial (AB-729-001) with AB-729, its proprietary GalNAc delivered RNAi compound.