STOCKS TELEGRAPH

Tag: NASDAQ: OCGN

  • Stocks to Watch as Positive U.S-China Trade News Drive-up Markets

    Stocks to Watch as Positive U.S-China Trade News Drive-up Markets

    The markets are up this morning driven by news that the U.S and China are making progress in their trade negotiations. According to the U.S trade negotiator Robert Lighthizer and his Chinese colleague, the two countries were fully committed to ensuring that the negotiations turn out successful.

    This reassurance has led to higher appetite for stocks due to the reduced geopolitical risks. According to Naeem Aslam of Avatrade, the possible positive outcome of the trade negotiations between the two largest economies in the world had taken away a major barrier in the global stock markets.

    The news also come at a time when another risk factor to the economy seems to be falling under control. On Sunday the FDA approved the use of blood plasma in the treatment of COVID-19. In the event that it shows widespread effectiveness, then it would be a green light for the world economy to go back to normal. At the same time, hopes of a COVID-19 vaccine are rising by the day.

    Several biopharma companies and academic institutions are in advanced stages in the race for a vaccine. This has added an extra layer of positive sentiment in the market. In this environment of high optimism, stocks with positive news or anticipated positive news are rallying. Some of the top performers ahead of markets are as below:

    Viveve Medical Inc [NASDAQ: VIVE]

    Viveve is a top performer pre-market and is up b 41% at the time of writing. This comes after the company announced that it has positive primary efficacy data from its Stress Urinary Incontinence (SUI) feasibility study that done over 5-months.

    The company also announced that it had got positive results from its in-vivo pre-clinical study that was done to test the company’s new inert sham that would be used in the upcoming PURSUIT trial in the U.S. Commenting on the results, CEO Scott Durbin stated that they believed that the results were in support of the company’s thesis stating that cryogen-cooling had a good therapeutic effect. The results are likely to support this stock through the day.

    Ocugen Inc [NASDAQ: OCGN]

    Ocugen Inc is another top perfumer this morning and is up by 19%. This comes as investors await news from the company about its forward-looking statements. The stock is also buoyed by the fact that an insider recently bought a sizeable amount of the stock.  The company’s founder Shankar Musunari bought $108k worth of stock, an indicator that he has confidence in the company.

    Vivopower International PLC [NASDAQ: VVPR]

    This is another top performer this morning and is up by 18%. This follows the company’s release of its finances for the financial year ending 30th June 2020. The company reported that revenues grew by 12% compared to the last financial year.  The company also reported that gross revenues grew by 28% compared to the last financial year.  This has inspired investor confidence in the stock pre-market.

     

  • Top Gainers as Positive Market Sentiment Grows

    Top Gainers as Positive Market Sentiment Grows

    The markets are up this afternoon buoyed by hopes of a stimulus package and positive news from big pharma. Pfizer Inc [PFE] was surging earlier in the day on news that the company was in talks with Sanofi, Johnson & Johnson, and the European Union for a possible COVID-19 vaccine distribution deal. Though later news seems to indicate that the deal has hit a snag, it has nonetheless helped push optimism in the market.

    Another news driving market sentiment this afternoon is the launch of several IPOs that include that of Rackspace technology [RXT] and East Resources that has closed its IPO raising a gross of $300 million. IPOs at this time show that companies still have faith in the equity markets despite the volatility brought about by the COVID-19 pandemic. In this environment of optimism, there are big winners in individual stocks. Some of the biggest winners this afternoon are as below:

    MediciNova Inc [NASDAQ:MNOV]

    MediciNova Inc is one of the top gainers in the day and is up by 87.06%. The stock has rallied after the company announced that it had entered into a COVID-19 joint venture with BioComo and Mie University Japan. The vaccine will be developed using a human parainfluenza virus type 2 vector. Under the deal, MediNova now has exclusive rights to the development rights to make use of BC-PV for a SARS-Cov-2 vaccine.

    Commenting on the deal, MediNova CEO has stated that they were happy with this partnership as the world rushes to look for a COVID-`19 vaccine or cure. He added that it was interesting that they were looking at it from an intranasal formulation angle because it could help trigger local mucosal immunity.

    Sogou Inc [NYSE:SOGO]

    This is another top gainer this afternoon and is up 47%. The stock’s rally follows the company’s announcement that it would release its Q2 results on August 17th. The stock’s upside momentum is also buoyed by news that Tencent Holdings was looking to buy it out at $9 a share. This has seen the stock gap up and rallies towards the premium valuation that Tencent Holdings has placed on it. The news of a buyout has come at a time when the market is showing positive momentum.

    Ocugen Inc [NASDAQ:OCGN]

    Ocugen Inc is another top gainer in the day. The stock is up by 45% and is gaining. The rally follows news that the company had been given an Orphan Drug Designation by the FDA for RHO mutation gene-therapy treatment called OCU400. The company CEO stated that this was a major step towards a treatment for Retinal Degenerative Disease.