| | Hey traders! It's Michael here with the Stock Dork Cheat Sheet: Premarket Report, your go-to guide for the day's biggest trading news and hottest premarket stocks! Today is Tuesday, July 18th. I hope you have a great weekend. Let's get ready to trade! |
The Nasdaq gained 0.9% on Monday in a strong weekly open for U.S. stocks. The Dow added 0.2%, and the S&P 500 gained 0.3%, while the small-cap Russell 2K outperformed with a 1.0% rally. Futures are treading water in early trading. S&P 500 contracts are currently showing a loss of less than 0.1%. ⪠NoneNot much to report in today's premarket. Futures are in a holding pattern ahead of today's busy trading session. |
Arch Capital Group [ACGL] - Last Close: $80.61 This mid-cap insurance stock is heating up. Shares of Arch Capital Group have been steadily marching higher for the past couple of weeks, and analysts are taking notice. Yesterday, Wells Fargo adjusted its price target on the stock to $90 from $83 and reiterated its "overweight" rating. The price target hike matched similar moves from RBC, UBS, and JMP Securities last week. ACGL jumped 4.6% on Monday as a result of the upgrades. It's currently leading the S&P 500 in the premarket with a 3.0% gain. My Take: ACGL has been gaining steady for the past couple of weeks. I am not sure what started the move, but it's certainly building up some momentum. This could be an interesting, albeit somewhat conservative, stock to watch. Biophytis [BPTS] - Last Close: $2.21 A crucial production deal is boosting shares of Biophytis. This morning, the micro-cap biotech announced it had landed a deal with SEQENS to produce the active compound for its Sarconeos drug candidate. Under the terms of the deal, SEQENS will produce the drug's active ingredient in France. Sarconeos was designed to treat severe COVID-19, sarcopenia, and Duchenne muscular dystrophy.
Financial terms weren't disclosed, but BPTS is today's top stock, with a 60.1% gain on elevated trading volume in the premarket.
My Take: Just last week, BPTS said it's seeking FDA approval for a Phase 3 study, now this. All things considered, It appears they're feeling very good about Sarconeos' chance at approval, but it's not over until the FDA gives the green light. Keep this one on your watchlist. Karyopharm Therapeutics [KPTI] - Last Close: $1.53 Karyopharm Therapeutics is getting a boost from a recent announcement. Late Monday, the biotech firm said the U.S. FDA had awarded a "Fast Track designation" to the development of selinexor for myelofibrosis patients. Just last month, Karyopharm kicked off a Phase 3 study of selinexor in combination with ruxolitinib in patients with myelofibrosis. The company says it expects to receive top-line data from the Phase 3 trial in 2025. HC Wainwright & CO reiterated its "buy" rating and $10 price target on KPTI in light of the news. KPTI is up 20.9% in today's premarket. My Take: KPTI has a way to go before those Phase 3 results come rolling in, so this could be a slow roll. However, share prices are showing some support around $1.50, so there could be a swing opportunity here. Aridis Pharmaceuticals [ARDS] - Last Close: $0.263 Aridis Pharma just published an upbeat clinical update. Late Monday, the pharma firm said the European Medicines Agency has agreed to its design for a Phase 3 trial of AR-301 pneumonia treatment. The agreement with the EMA covers "pneumonia caused by the Gram-positive bacteria Staphylococcus aureus in mechanically ventilated hospitalized patients, according to the company." Aridis said its agreements with the EMA are similar to deal it made with the U.S. Food & Drug Administration. Shares of ARDS are up 34.4% on the news, and it's this morning's most active stock. My Take: ARDS is a tiny stock, but it's showing signs of life as of late, and this Phase 3 trial could deliver a valuable catalyst down the road. Gainers - Rubicon Tech Class [RBT] >> +20.5%
- Sentage Holdings [SNTG] >> +18.0%
- Virax Biologics [VRAX] >> +9.7%
- Predictive Oncology [POAI] >> +12.2%
Decliners - Innovate Biopharma [NMTR] >> (59.8%)
- Masimo Corp. [MASI] >> (29.1%)
- CEL-SCI Corp [CVM] >> (17.8%)
- Promis Neuroscience [PMN] >> (17.4%)
Bank of America Corporation [BAC] ... AM
Morgan Stanley [MS] ... AM
Prologis, Inc. Reit [PLD] ... AM
Lockheed Martin Corporation [LMT] ... AM
Charles Schwab Corporation (The) [SCHW] ... AM
PNC Financial Services Group, Inc. (The) [PNC] ... AM
The Bank Of New York Mellon Corporation [BK] ... AM
Interactive Brokers Group, Inc. [IBKR] ... PM
Omnicom Group Inc. [OMC] ... PM
J.B. Hunt Transport Services, Inc. [JBHT] ... PM - U.S. retail sales [Jun] ... 8:30a
- Industrial production [Jun] ... 9:15a
- Business inventories [May] ... 10:00a
- Home builder confidence index [Jul] ... 10:00a
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