🧬 5 Biotech Stocks With Strong Upside Potential

US stocks closed higher on Thursday as investors reacted to a softer-than-expected June jobs report, easing immediate concerns over interest rates. The Dow Jones Industrial Average gained 0.5%, the S&P 500 rose 0.3%, and the Nasdaq Composite added 0.2%. 

The US economy created 57,000 jobs in June, well below expectations of 113,000, while the unemployment rate stood at 4.2%, beating the 4.3% forecast. The weaker labor data strengthened expectations that the Federal Reserve may keep rates unchanged for now. 

Meanwhile, South Korea’s Kospi plunged 7.9%, with SK Hynix and Samsung Electronics falling over 14% and 9%, respectively, while oil prices eased on signs of improving US-Iran diplomatic talks.

Top Movers: Under $10 

CaliberCos Inc (CWD) is up 88.28% today to trade at the current level of $1.22. This comes after the company announced the next phase of its real estate fund tokenization strategy, building on Chainlink.

StableCoinX Inc (USDE) zoomed 53.85% in today’s trade to $3.2 after announcing the official launch of its flagship infrastructure software platform, StablecoinX Harness.

In current trading, ClearOne Inc (CLRO) stock is at $4.12 after announcing a merger agreement under which Cortigent will become a wholly owned subsidiary of ClearOne upon closing.

Yiren Digital Ltd ADR (YRD) rose 26.97% in the early hours of today's trading to move at $1.14 after announcing a new $20 million share repurchase program.

In the current trading session, Propanc Biopharma Inc (PPCB) jumped 20.92% to $1.74 over a previous close of $1.44 after announcing it has initiated a share repurchase program authorizing the Company to repurchase a first tranche of up to $500,000 over the next 30-day period.

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Ex-Dividend Stocks

Cisco Systems Inc (CSCO) is about to trade ex-dividend on Monday, meaning that investors who buy the stock after Monday will not be eligible for the next dividend payment. The company's next dividend payment will be $0.42 per share. It has fixed July 06 as the record date for the same and will pay the actual dividend on July 22. Last year, the company distributed a total of $1.65 to its shareholders. Based on last year's worth of payments, CSCO has a trailing yield of 1.41% on the current stock price of $117.01.

Another stock that is shelling out dividends Monday is Escalade Inc (ESCA), having a market capitalization of $264.23M. It will pay a dividend of $0.15 per share, the payment date of which is July 13. Currently, the stock is trading at a trailing dividend yield of 3.15%.

Shares of Micron Technology Inc (MU) will be the talk of the stock market on Monday as the stock will turn ex-dividend. The company's next dividend payment will be $0.15 per share, and in the last 12 months, it paid a total of $0.49 per share. Last year's total dividend payments show that MU has a trailing yield of 0.05% on the current share price of $1032.28.

Shoe Station Group Inc (SHOE) is also set to go ex-dividend Monday. The next dividend payment from SHOE will amount to $0.17 per share. July 06 has been designated as the record date for this dividend, with the actual payout scheduled for July 20. In the previous year, SHOE distributed a total of $0.62 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for SHOE stands at 4.11% based on the current stock price of $15.1.

Werner Enterprises Inc (WERN) will be paying out a dividend of $0.14 per share to shareholders holding their shares as of the close of business hours on the record date of July 06. Over the past 12 months, WERN has paid out a total of $0.56 per share in dividends. Based on the total dividends paid out last year, WERN boasts an impressive trailing yield of 1.28% on the current share price of $43.82.

Crypto Market Highlights

• Robinhood launched its public mainnet, approximately four months after initiating testing of the network.

• Tradeweb completed an onchain transaction involving tokenized US Treasuries, with Franklin Templeton transferring a tokenized Treasury security to Virtu Financial in exchange for tokenized cash over the Canton Network.

• Cryptocurrency ATMs continue to decline across the US as new state laws impose bans and stricter operating restrictions on kiosk operators.

• Anchorage Digital integrated its off-exchange settlement platform with Binance, enabling institutional clients to trade while keeping crypto and cash in qualified custody instead of depositing assets directly on the exchange.

• Taiwanese lawmakers approved a new crypto regulatory framework, introducing licensing requirements and regulations for stablecoins.

Most Shorted Stocks

Groupon (GRPN) was one of the most shorted stocks as of latest short interest figures, with 51.73% short interest. The days to cover ratio, a measure of how long it would take for all the short positions to be covered based on average trading volume, is 8.3. This represents a change of -119,724 shares, which corresponds to a -0.95% decrease in short interest. The total value of the shares held short is estimated to be around $217.28 million. The average daily volume stands at 2.03M shares, and the market capitalization of the company is $975.42M.

The SELLAS Life Sciences Group Inc with the symbol SLS currently has a short interest of 32.65%. The short interest has changed by 2360818 shares. The days to cover ratio stands at 9.3. The estimated value of the shares held short is approximately $840.8 million. On an average day, 8.40M shares are traded, with the company's market capitalization totaling $2.47B.

For the stock EVgo Inc (EVGO), the current short interest is at 14.77%. This represents a significant short interest change of 206318 shares, corresponding to a short interest percentage increase of 0.45%. The days needed to cover the short positions amount to 9.9. The approximate worth of the shares held short is $87.58 million.

With the symbol CLSK, the stock currently has a short interest of 33.74%. The short interest change is 898040 shares, compared with a short interest percentage change of 1.07%. It would take approximately 3.7 days to cover all the short positions. The short value is estimated to be around $631.14 million. The company boasts an average daily volume of 21.82M shares, contributing to a market capitalization of $3.50B.

The stock LENZ has a current short interest of 36.09%. The short interest percentage has experienced an increase of 1.42% while there was a change of 145469 shares in short interest. The ratio indicating the time required to cover short positions is 20.3. The calculated worth of the shorted shares amounts to around $490.82 million. Trading activity averages at 812.97K shares per day, while the company's market capitalization stands at $181.54M.

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Biotech Stocks to Watch

According to our ST Score evaluation, Krystal Biotech Inc (KRYS) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 62. The stock's profitability, performance, financial strength, and Piotroski Score are strong. However, its growth is weak. Additionally, it is neutral in terms of stock sentiment and forecast.

Our ST Score also classifies Theravance Biopharma Inc (TBPH) as a high-quality Biotech stock today, presenting a Score of 61. The stock has strong fundamentals in terms of profitability, performance, financial strength, and Piotroski Score. The growth, stock sentiment, and forecast are neutral.

Another stock in the category, AN2 Therapeutics Inc (ANTX) has the ST Score of 60, which means that the stock carries the potential for higher returns. The stock is strong in performance and financial strength but weak in growth and Piotroski Score. Profitability, stock sentiment, and forecast suggest a neutral outlook.

Oramed Pharmaceuticals Inc (ORMP) stock has the ST Score of 60, which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, and financial strength, but its weaknesses are in its stock sentiment and forecast. However, it shows a neutral outlook in growth and Piotroski Score.

Royalty Pharma plc (RPRX) currently has the ST Score of 60, which signifies a huge upward potential. The Biotech stock's strong points are its profitability, performance, financial strength, and Piotroski Score, while its weak points are its growth. The stock's stock sentiment and forecast indicate a neutral outlook.

That's it for today. Thanks for reading. Good luck out there!

Best Regards,

Stocks Telegraph Team