Biotech Breakouts: Fast-Rising Picks & $10 Hidden Gems

Stocks were mostly flat on Thursday as investors digested a fresh round of corporate earnings, while the S&P 500 aimed to notch its longest winning streak since last December.

As of 11:20 AM ET, the Dow was down -77.65 points, or -0.17966%, at $43143.9. The Nasdaq Composite added 19.788 points, or 0.09317326%, at $21257.64. The S&P 500 rose 1.27 points, or 0.02134486%, at $5951.18. Among the 11 major S&P 500 sectors, 8 showed positive movement, with Utilities leading the way with a 1.8% increase.

So far, the earnings season is off to a solid start, with 77% of reporting companies surpassing analysts’ expectations, according to FactSet. This strong performance is helping to bolster market confidence.

Meanwhile, the 10-year U.S. Treasury yield retreated significantly from its recent 14-month high, settling around 4.623%, easing some pressure on equities.

Adding to market optimism, Federal Reserve Governor Chris Waller signaled that continued positive inflation data could prompt the Fed to consider easing its monetary policy stance.

Top Movers: Under $10

ImmunityBio Inc (IBRX) is up 15.90% today to trade at the current level of $2.77. This comes after the company announced submitting its marketing authorization applications for ANKTIVA® plus BCG to the EU EMA and UK MHRA for treating BCG-unresponsive NMIBC with CIS in adults.

Predictive Oncology Inc (POAI) zoomed 16.32% in today’s trade to $1.38 after announcing plans to launch its validated flagship live cell ChemoFx drug response assay in Europe and expanded availability in the United States.

In current trading, Avino Silver & Gold Mines Ltd (ASM) stock is at $1.20 after commencing underground development at La Preciosa.

Flexible Solutions International Inc (FSI) rose 41.67% in the early hours of today's trading to move at $5.23. The company announced that, on January 7, 2025, it contracted with a US based company to manufacture food grade products for the U.S. based company on a non-exclusive basis.

In the current trading session, Biomerica Inc (BMRA) jumped 101.06% to $0.70 over a previous close of $0.35 after announcing that its Fortel Prostate Specific Antigen (PSA) Screening Test has received approval from the United Arab Emirates Ministry of Health and Prevention (MOHAP).

Ex-Dividends Stocks

Cracker Barrel Old Country Store Inc (CBRL) is about to trade ex-dividend tomorrow, meaning that investors who buy the stock after tomorrow will not be eligible for the next dividend payment. The company's next dividend payment will be $0.25 per share. It has fixed January 17 as the record date for the same and will pay the actual dividend on February 12. Last year, the company distributed a total of $3.10 to its shareholders. Based on the last year's worth of payments, CBRL has a trailing yield of 5.45% on the current stock price of $56.89.

Shares of EOG Resources, Inc (EOG) will be the talk of stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $0.97 per share, and in the last 12 months, it paid a total of $3.64 per share. Last year's total dividend payments show that EOG has a trailing yield of 2.65% on the current share price of $137.21.

Tomorrow, General Dynamics Corp (GD) is also set to go ex-dividend tomorrow. The next dividend payment from GD will amount to $1.42 per share. January 17 has been designated as the record date for this dividend, with the actual payout scheduled for February 07. In the previous year, GD distributed a total of $5.58 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for GD stands at 2.08% based on the current stock price of $267.86.

Williams-Sonoma, Inc (WSM) will be paying out a dividend of $0.57 per share to shareholders holding their shares as of the close of the business hours on the record date of January 17. Over the past 12 months, WSM has paid out a total of $2.15 per share in dividends. Based on the total dividends paid out last year, WSM boasts an impressive trailing yield of 1.08% on the current share price of $198.95.

Crypto Market Highlights

• Coinbase has reintroduced Bitcoin-backed loans in the United States, allowing users to borrow against their Bitcoin holdings.

• Bitcoin’s correlation with top tech stocks has reached a two-year high, indicating increased sensitivity to economic factors like the upcoming US Consumer Price Index (CPI) report.

• eToro, a cryptocurrency-friendly trading platform, has filed for an initial public offering (IPO) in the United States.

• The CryptoPunks community is in turmoil over rumors that Yuga Labs may be considering selling the intellectual property (IP) rights of the CryptoPunks NFT collection.

• Komainu Holdings, a regulated cryptocurrency custodian backed by Nomura’s Laser Digital, has raised $75 million in Bitcoin from Blockstream Capital Partners for global expansion and tech integration.

Most Shorted Stocks

Chijet Motor Company Inc (CJET) was one of the most shorted stocks as of latest short interest figures, with 8.65% 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 2.3. This represents a change of 5300 shares, which corresponds to a +13.70% increase in short interest. The total value of the shares held short is estimated to be around $76560.0. The average daily volume stands at 22.41K shares, and the market capitalization of the company is $9.32M.

The Sunnova Energy International Inc with the symbol NOVA currently has a short interest of 31.33%. The short interest has changed by -10000 shares. The days to cover ratio stands at 3.2. The estimated value of the shares held short is approximately $112.64 million. On an average day, 10.98M shares are traded, with the company's market capitalization totaling $414.08M.

For the stock Arbor Realty Trust Inc (ABR), the current short interest is at 30.10%. This represents a significant short interest change of 400000 shares, corresponding to a short interest percentage increase of +0.71%. The days needed to cover the short positions amount to 25.5. The approximate worth of the shares held short is $775.48 million.

With the symbol STEM, the stock currently has a short interest of 31.25%. The short interest change is 12360000 shares, compared with a short interest percentage change of +35.32%. It would take approximately 4.4 days to cover all the short positions. The shares short value is estimated to be around $43.15 million. The company boasts an average daily volume of 11.94M shares, contributing to a market capitalization of $123.04M.

The stock APLD has a current short interest of 30.78%. The short interest percentage has experienced increase of +14.75% while there was a change of 6310000 shares in short interest. The ratio indicating the time required to cover short positions is 3.1. The calculated worth of the shorted shares amounts to around $440.36 million. Trading activity averages at 17.38M shares per day, while the company's market capitalization stands at $2.07B.

Biotech Stocks to Watch

According to our ST Score evaluation, Mannkind Corp (MNKD) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 67. The stock's profitability, performance, growth, financial strength, and Piotroski Score are strong. Additionally, it is neutral in terms of stock sentiment, and forecast.

Our ST Score also classifies Halozyme Therapeutics Inc (HALO) as a high-quality Biotech stock today, presenting a Score of 66. 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, Catalyst Pharmaceuticals Inc (CPRX) has the ST Score of 65, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, growth, financial strength, and Piotroski Score. Stock sentiment, and forecast suggest a neutral outlook.

CureVac N.V (CVAC) stock has the ST Score of 62 which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, and Piotroski Score. However, it shows neutral outlook in growth, financial strength, stock sentiment, and forecast.

Argen X SE ADR (ARGX) currently has the ST Score of 62, which signifies a huge upward potential. The Biotech stock's strong points are its profitability, performance, and financial strength, while its weak points are its Piotroski Score. The stock's growth, 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

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