Salesforce [CRM] - Last Close: $151.25
An activist investor has taken an interest in Salesforce.
According to a Wall Street Journal report, Paul Singer's Elliot Management has made a multibillion-dollar investment in the cloud services company.
The exact size of Elliot's interest was not immediately disclosed, and it's currently unclear what the activist investing firm is demanding.
A managing partner at Elliot said, "We look forward to working constructively with Salesforce to realize the value befitting a company of its stature."
Salesforce hasn't responded to requests for comment.
CRM is leading the S&P 500 with a 4.9% gain on active volume.
My Take: CRM has underperformed in recent weeks, and an activist investor campaign could be exactly what the company needs. This trade could be worth watching in the weeks ahead.
Pliant Therapeutics [PLRX] - Last Close: $22.51
Upbeat clinical data is boosting shares of Pliant Therapeutics.
The clinical-stage biopharma firm announced interim 12-week data from a Phase 2a trial of bexotegrast in patients with idiopathic pulmonary fibrosis (IPF).
The drug, also known as PLN-74809, met its primary and secondary endpoints in the 320 mg group, and it displayed a favorable pharmacokinetic profile.
Pliant says the trial will continue until all patients have been treated for at least 24 weeks, and the company expects to release final data in Q2 2023.
News of the promising drug data rallied PLRX to a 76.5% gain on active trading volume in today's premarket.
My Take: This data is promising, and there could be more catalysts ahead for this stock when the complete 24-week clinical report comes out in Q2.
Allarity Therapeutics [ALLR] - Last Close: $0.2538
Allarity Therapeutics is running hot after an announcement.
Late Friday, the clinical-stage biopharma firm said it adjourned its 2023 annual stockholders meeting on Jan. 19th without conducting any business.
Allarity said the meeting was adjourned until Friday, Feb. 3rd, to allow time for shareholders to vote on proposals set forth in its definitive proxy statement.
The company also announced it was decreasing the fixed size of its board of directors from seven to five seats.
ALLR is one of this morning's top performers with an 81.6% gain on active volume.
My Take: I'm not really sure why this news is sparking such a dramatic move in this tiny stock. Investors might be excited about some of the proxy measures up for vote, or it could just be the result of coordinated buying among social media market raiders designed to take advantage of its small float
Boxed Inc [BOXD] - Last Close: $0.4728
Boxed is moving higher after landing new financing.
After Friday's close, the bulk-buy eCommerce company said it entered into a second lien secured term loan facility with an undisclosed lender for $10 million.
The loan also offers an additional $10 million in funding pending the achievement of certain milestones in a process for the sale of the company.
News of the loan sent shares of BOXD rallying. It's currently up 43.9% on active trading volume in today's premarket.
My Take: Recent trends in BOXD price action look promising. The stock has been trending higher since the start of the year, although it was experiencing a pull-back prior to today's rally. This tiny stock could be worth watching.
