💥Operation January I Ends Tonight ⏳ I Comeback Kid 🤺
Here’s today’s biggest movers and shakers!
And a SPECIAL INVITE to join Jeff Bishop @2pm EST TODAY as he shares his top selling options ideas for 2024 → MarketMasters Room.
FOCUS LIST🔎
DYN – Up over 40% in pre-market after positive clinical data in Myotonic Dystrophy Type 1 trial
LBPH – 2nd day play after closing yesterday up over 300%
ABVC – Trades up over 90% in pre after announcing it’s to receive a $460 million milestone payment to be paid in stock of a private company
HOTLIST🔥
DYN – Up over 40% in pre-market after positive clinical data in Myotonic Dystrophy trial
Dyne Therapeutics (DYN) is a muscle disease company that operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States.
This morning the company announced positive initial clinical data from its Muscular Dystrophy treatment. The company announced:
– All Evaluable Patients in the 3.4 mg/kg Cohort Treated with DYNE-101 Q4W Demonstrated Consistent Splicing Correction with a 19% Mean Improvement Across 22-Gene Panel at 3 Months –
Demonstrating proof of concept in developing targeted therapeutics for rare muscle diseases.
The stock traded up over 80% in pre-market after the news was released.
After pulling back, the buyer stepped in around the $17.50 area, so that will be an important level to watchin.
Above it, targets to the upside are $20, $22, $26.50 and then the pre-market high at $29.46.
Below $17.50, there is a gap to fill at $13.06.
LBPH – 2nd day play after closing yesterday up over 300%
Longboard Pharmaceuticals (LBPH) is a clinical-stage biopharmaceutical company that focuses on developing novel and transformative medicines for neurological diseases.
Yesterday morning, the company announced positive top line data for its trial of Bexicaserin for the treatment of Developmental and Epileptic Encephalopathies (DEEs). Results showed median seizure reduction of 53.3% in countable motor seizures vs 20.8% in the placebo group.
The stock traded up over 300% in reaction to the news. What makes this trade idea even more interesting is that renowned Biotech Analyst Adam Feuerstein tweeted his skepticism in reaction to the results in the pre-market with the stock below $20. At the same time Cantor Fitzgerald raised its price target to $55.
After the close LBPH announced a $150million public share offering, which is yet to be priced. This is definitely one to have on your radar in the coming days.
Yesterday’s intra-day high was $25.82 and will be an important level to watch.
Above it, the first target is the pre-market high at $27.70. Beyond that is blue sky and $30, $35 and $40 come into play. Keep in mind that there is a potential pricing of the stock offering to be released.
Below $25.82, there is potential support at $24, $21.50, $20, $18 and $17. Below that $16, $15 and $12 come into play.
ABVC – Trades up over 90% in pre after announcing it’s to receive a $460 million milestone payment to be paid in stock of a private company
ABVC BioPharma (ABVC) is a clinical stage biopharmaceutical company that develops drugs and medical devices to fulfill unmet medical needs in the United States.
This morning the company announced that it and its subsidiary would receive $460million from AiBtl BioPharma as the first milestone payment of global licensing fees.
However, in the press release it’s revealed that this payment was int 46 million shares of AiBtl valued at $10 with AiBtl still being a private company. The potentially misleading headline could attract short sellers for a potential squeeze, or be enough to send the stock back to where it came from.
This one is in play today.
The $2.20 area acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $2.40, $2.50 and then the pre-market high at $2.65. Beyond that, $3 and $4 come into play.
Below $2.20, there is potential support at $2, $1.90, $1.75, and then a gap to fill at $1.20.
MARKET NEWS
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