Weekly Watchlist and Review 2/4/24

Weekly Watchlist and Review

Welcome back to another edition of our Weekend Watchlist and Review at ALERTSANDNEWS.COM! The markets never sleep, and neither does our vigilance. This past week, we witnessed some remarkable movements, with some stocks showing vigorous momentum. Let’s quickly go over the highs and lows.

This week, we saw amazing runners every day, starting with PALI‘s sharp response to news, leading to a significant run. ONMP and REVB also surged, reaching their targets. RVSN demonstrated a insane run across multiple days, maintaining its momentum and nailing target after target. MARK‘s tweet caused a flurry of volume, hitting targets. NEXI‘s alerts were astounding, especially for a company on the brink of bankruptcy. Midweek, MINM, GHSI, and CNXA hit target after target as well. Towards the week’s end, MINM and NRBO offered multiple chances for gains, hitting multiple targets. Then on Friday, INBS was the top play, hitting all targets from our first entry at 3.68, with the top target being 6.14—a beautiful play.

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Let’s start what to eye tomorrow, and the news over the weekend.

Here’s the Gappers from Friday. CHEA some wild action. MEGL no news, but some hype there. KXIN some hype as well. 

PLRX: Pliant Therapeutics Announces Positive Safety and Exploratory Efficacy Data from the INTEGRIS-PSC Phase 2a Trial of Bexotegrast 320 mg in Patients with Primary Sclerosing Cholangitis and Suspected Liver Fibrosis

 

 

Pliant Therapeutics Announced Bexotegrast 320 Mg PSC Phase 2a Trial Met Its Primary And Secondary Endpoints

Met all endpoints here, eye the volume in the AM, heres the symmetrical triangle to monitor on this one.

Let’s look at individual stock news over the weekend. 

EYPT: EyePoint Pharmaceuticals Announces Two Presentations of Topline Data with Additional Subgroup Analyses from the Phase 2 DAVIO 2 Clinical Trial of EYP-1901 for the Treatment of Wet Age-Related Macular Degeneration

Says The Trial Met Its Primary Endpoint With Both EYP-1901 Doses Demonstrating Statistical Non-Inferiority Change In Best Corrected Visual Acuity; The Trial Also Achieved Key Secondary Endpoint

HOLI: Buyer Consortium Led By Dazheng Group Reaffirms Commitment To Acquire Hollysys At $29.50Per Share
 
FDMT: 4DMT Presents Positive Interim Data from Randomized Phase 2 PRISM Clinical Trial of Intravitreal 4D-150 Demonstrating Favorable Tolerability & Clinical Activity in Wet AMD
 
CVNA: Carvana Plans Turnaround With Strategic Restructuring, Stock Rebound And Debt Overhaul: Report
 
PCVX: Vaxcyte Announces Closing of $862.5 Million Public Offering Including Full Exercise of Underwriters’ Option to Purchase Additional Shares
 
AMZN: Amazon warns climate change could disrupt its business in annual filing-CNBC
 
APDN: Applied DNA Announces Closing of $3.44 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

Geopolitical/Economic/World News

  • California’s Coast to Be Battered by High Winds, Heavy Rain

  • Trump Floats Chinese Goods Tariff of More Than 60% If Elected

  • South Korea’s foreign exchange reserves in January see biggest monthly drop since May 2023
  • US Centcom reports USS Carney intercepts and destroys an unmanned aerial vehicle over Gulf of Aden on Feb 2, no injuries or damages reported
  • US Centcom: US forces shoot down seven UAVs over Red Sea on Feb 2, no injuries or damage reported
  • Biden: United States Not Seeking Conflict in Middle East or Anywhere Else in World
  • Biden: Response initiated, will continue as needed
  • Biden orders strike on facilities in Iraq and Syria used by Iran-backed militias to attack US forces.
  • Fed’s Bowman: Rate cuts not yet necessary

     

  • Jpow Is on 60 Minutes tonight

News Coming:

By staying informed about the FDA decisions and other news, investors, healthcare professionals, and patients can gauge the potential impact on the pharmaceutical industry, stock market, and patient care. These decisions can influence the market value of pharmaceutical companies. Let’s look at the news coming: 


Stock TickerCompany NameDecision DetailsEstimated Decision Date
IOVAIovance Biotherapeutics, Inc.FDA decision on Lifileucel for patients with advanced melanoma.02/24/2024
ALVOAlvotechFDA decision on AVT02, an interchangeable biosimilar candidate to Humira.02/24/2024
NERVMinerva Neurosciences IncFDA decision on Roluperidone for the treatment of negative symptoms in schizophrenia.02/26/2024
EYENEYENOVIA, INC.FDA decision on APP13007 for the treatment of inflammation and pain following ocular surgery.03/04/2024
VTRSViatris Inc.FDA decision on GA Depot for Relapsing Forms of Multiple Sclerosis.03/08/2024
MIRMMirum Pharmaceuticals Inc.FDA decision on the expanded use of LIVMARLI in progressive familial intrahepatic cholestasis.03/13/2024
MDGLMADRIGAL PHARMACEUTICALS, INC.FDA decision on Resmetirom for the treatment of adult patients with NASH with liver fibrosis.03/14/2024
OPTNOptiNose Inc.FDA decision on the expanded use of XHANCE in treating adults with chronic rhinosinusitis.03/16/2024
ORTXOrchard Therapeutics plcFDA decision on OTL-200 in metachromatic leukodystrophy.03/18/2024

 

Let’s look at some oversold and/or highly shorted stocks. 

Grasping the dynamics of oversold and heavily shorted stocks is key for traders and investors looking to capitalize on emerging opportunities. Oversold stocks can be hidden gems, potentially undervalued due to market overreaction. On the other hand, stocks with high short interest are prime candidates for a short squeeze, a situation where a swift price surge happens as short sellers rush to close their positions. 

IRBT: This one has been on a downward trend since Amazon’s deal fell through due to EU regulatory hurdles. With short interest climbing to 6.3 million shares, approximately 23% of the float is now being shorted. This heavy selling has left the stock deeply oversold, indicating it could be primed for a technical rebound. Over the next few weeks need for a bounce as the shorts lock in profits.

BFRI: This stock is in a tough spot, with the daily chart showing significant wear and tear. Short interest is notable but not alarming, hovering around 6% of the float. With the RSI indicating the stock is oversold, investors are on the lookout for any positive news or an uptick in volume ratios that could signal a reversal. Have it on the radar.

WW: WW has been facing a downturn, particularly after the release of a new weight loss drug that’s impacted their market. Despite this, their financials tell a slightly different story; with a positive net income reported over the last two quarters, with a new earnings call later this month. The stock is currently in oversold territory, compounded by a significant short interest of 23% with over 16 million shares shorted. Shorts might be getting greedy here. 

VSTE: has been enduring tough times, becoming one of the market’s most beaten-down stocks. Its RSI has plummeted, indicating a deep oversold status. Interestingly, while short interest remains moderate, the cost to borrow is quite high, suggesting a squeeze could be costly for short sellers. Keep an eye on it.

Oversold beat up stocks to eye,

AGL, RUM, ALLK, ROMA, NCL, AIRE, BETS, TBLT, MSS, VCIG

Earnings Calender:

Economic Calendar and Futures.

Upcoming Economic Events for the Week of February 5th-9th

TIME (ET)REPORTPERIODACTUALMEDIAN FORECASTPREVIOUS
MONDAY, FEB. 5    
9:45 AMS&P final U.S. services PMIJan.52.9
10:00 AMChicago Fed President Austan Goolsbee TV appearance
10:00 AMISM servicesJan.5250.60%
2:00 PMAtlanta Fed President Raphael Bostic gives welcoming remarks
TUESDAY, FEB. 6    
12:00 PMCleveland Fed President Loretta Mester speaks 
1:00 PMMinneapolis Fed President Neel Kashkari speaks 
2:00 PMBoston Fed President Susan Collins speaks 
7:00 PMPhiladelphia Fed President Patrick Harker speaks 
WEDNESDAY, FEB. 7    
8:30 AMU.S. trade deficitDec.$62.1B$63.2B$63.2B
11:00 AMFed Gov. Adriana Kugler speaks  
11:30 AMBoston Fed President Susan Collins speaks 
12:30 PMRichmond Fed President Tom Barkin speaks 
2:00 PMFed Gov. Michelle Bowman speaks  
3:00 PMConsumer creditJan.$15B$23.7B$23.7B
3:00 PMCBO briefing on budget and economic outlook 
THURSDAY, FEB. 8    
8:30 AMInitial jobless claimsFeb. 3220,000224,000224,000
10:00 AMWholesale inventoriesDec.0.30%-0.20%-0.20%
12:05 PMRichmond Fed President Tom Barkin speaks 
FRIDAY, FEB. 9    
8:30 AMCPI seasonal factor revisions  
1:30 PMDallas Fed President Lorie Logan speaks 

This week’s economic calendar is headlined by a series of speeches from Federal Reserve Governors, signaling a potentially volatile week as investors and analysts parse their comments for insights into future monetary policy. Will the fed start cutting in March or May? The week begins with a look at the service sector’s health through the S&P final U.S. services PMI and the ISM services index. The presence of Federal Reserve officials throughout the week, including Austan Goolsbee and Raphael Bostic on Monday, suggests that market sentiment could be heavily influenced by their remarks.

Midweek brings December’s trade deficit figures, followed by more Fed speeches, which could offer additional clues on the central bank’s outlook amid recent economic data. The release of consumer credit numbers and a Congressional Budget Office (CBO) briefing may also shift focus towards consumer behavior and fiscal health. With the week closing on jobless claims and wholesale inventory data, and yet more from the Fed’s Lorie Logan, keeping an eye on these economic indicators and the Fed’s commentary will be crucial for understanding the broader economic narrative.

As of 6:38 PM EST, market futures are mixed but mostly red. Thanks for reading. For more targeted insights and timely alerts, make sure to check us out at alertsandnews.com Don’t forget to use the promo code AAN10 for 10% discount on all our packages. Getting the team the first mover advantage. Get informed first with your command center for the markets. Don’t let the next big opportunity pass you by! Join the team today!

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