Biotech Watchlist: Top Performers & $10 Stocks Gaining Traction

Stocks climbed on Thursday, supported by upbeat economic data and a wave of strong corporate earnings that helped lift market sentiment.

As of 11:38 AM ET, the Dow was up 184.14 points, or 0.4161%, at $44438.93. The Nasdaq Composite added 149.03 points, or 0.65%, at $23057. The S&P 500 rose 27.09 points, or 0.43%, at $6290.79. Among the 11 major S&P 500 sectors, 9 showed positive movement, with Energy leading the way with a 1.52% increase.

Earnings season is off to a solid start, with nearly 50 S&P 500 companies having reported so far—and 88% of them beating analysts’ expectations, according to FactSet. The better-than-expected results are boosting investor confidence and helping push equities higher.

Economic data also pointed to a resilient U.S. labor market. Jobless claims for the week ending July 12 dropped by 7,000 to 221,000, the Labor Department reported, signaling continued strength in employment.

As of this week, the S&P 500 is up 0.3%, the Dow Jones Industrial Average has gained 0.2%, and the Nasdaq is leading with a 0.9% increase.

Top Movers: Under $10 

Lucid Group Inc (LCID) is up 42.58 today to trade at the current level of $3.27. This comes after the news that Uber is teaming up with Lucid Group and Nuro to launch a robotaxi fleet, with plans to deploy at least 20,000 robotaxis over six years.

Windtree Therapeutics Inc (WINT) zoomed 37.78% in today’s trade to $1.24. The company recently announced that it has signed a $60 million securities purchase agreement with Build and Build Corp to launch a BNB crypto treasury strategy.

In current trading, Bit Origin Ltd (BTOG) stock is at $0.42 after announcing that it has entered into agreements with accredited investors for the sale of up to $400 million in Class A ordinary shares and up to $100 million in convertible debt to launch the Company’s Dogecoin treasury strategy.

Beam Global (BEEM) rose 26.13% in the early hours of today's trading to move at $2.59. The company announced that management from Beam Global, Beam Europe and the Platinum Group LLC, performed the official signing ceremony creating Beam Middle East in the Emirate of Abu Dhabi, United Arab Emirates (UAE).

In the current trading session, BRC Inc (BRCC) jumped 23.51% to $1.87 over a previous close of $1.51 after announcing the pricing of $35 million offering of Class A common stock.

Ex-Dividend Stocks

Gladstone Capital Corp (GLAD) is about to trade ex-dividend 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 $0.17 per share. It has fixed August 20 as the record date for the same and will pay the actual dividend on August 29. Last year, the company distributed a total of $1.97 to its shareholders. Based on last year's worth of payments, GLAD has a trailing yield of 6.77% on the current stock price of $29.12.

Another stock that is shelling out dividends Monday is Gladstone Land Corp (LAND), having a market capitalization of $375.60M. It will pay a dividend of $0.05 per share, the payment date of which is August 29. Currently, the stock is trading at a trailing dividend yield of 5.43%.

Shares of OFS Credit Company Inc (OCCI) 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 $0.12 per share, and in the last 12 months, it paid a total of $1.37 per share. Last year's total dividend payments show that OCCI has a trailing yield of 21.92% on the current share price of $6.25.

Paychex Inc (PAYX) is also set to go ex-dividend Monday. The next dividend payment from PAYX will amount to $1.08 per share. July 21 has been designated as the record date for this dividend, with the actual payout scheduled for August 29. In the previous year, PAYX distributed a total of $4.02 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for PAYX stands at 2.81% based on the current stock price of $142.86.

RMR Group Inc (RMR) will be paying out a dividend of $0.45 per share to shareholders holding their shares as of the close of the business hours on the record date of July 21. Over the past 12 months, RMR has paid out a total of $1.80 per share in dividends. Based on the total dividends paid out last year, RMR boasts an impressive trailing yield of 10.30% on the current share price of $17.48.

Crypto Market Highlights

• RGB Protocol launched on Bitcoin mainnet, enabling tokenized assets like stablecoins, NFTs, and custom tokens within the Bitcoin ecosystem.

• Bitcoin-based DeFi (BTCFi) is growing rapidly, though it continues to face notable challenges.

• Shift from centralized to decentralized exchanges reaches a new high, as traders increasingly favor DEXs over CEXs.

• U.S. SEC extends decision deadline on in-kind redemptions for two crypto ETFs.

• Bitcoin “wrench attacks” may hit record levels in 2025, driven by rising market value, warns Chainalysis.

Most Shorted Stocks

Beam Therapeutics Inc (BEAM) was one of the most shorted stocks as of the latest short interest figures, with 24.82% 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 11.0. This represents a change of 2350000 shares, which corresponds to a +10.81% increase in short interest. The total value of the shares held short is estimated to be around $495.08 million. The average daily volume stands at 2.06M shares, and the market capitalization of the company is $2.07B.

The Microvision Inc with the symbol MVIS currently has a short interest of 24.10%. The short interest has changed by 4870000 shares. The days to cover ratio stands at 11.4. The estimated value of the shares held short is approximately $87.42 million. On an average day, 5.49M shares are traded, with the company's market capitalization totaling $366.87M.

For the stock Jack In The Box, Inc (JACK), the current short interest is at 24.74%. This represents a significant short interest change of -160000 shares, corresponding to a short interest percentage decrease of -3.45%. The days needed to cover the short positions amount to 4.6. The approximate worth of the shares held short is $94.12 million.

With the symbol CETX, the stock currently has a short interest of 25.82%. The short interest change is 132500 shares, compared with a short interest percentage change of +21.06%. It would take approximately 1.0 days to cover all the short positions. The shares' short value is estimated to be around $6.27 million. The company boasts an average daily volume of 849.11K shares, contributing to a market capitalization of $4.52M.

The stock ENVX has a current short interest of 27.53%. The short interest percentage has experienceda decrease of -2.66% while there was a change of -1220000 shares in short interest. The ratio indicating the time required to cover short positions is 7.9. The calculated worth of the shorted shares amounts to around $11.66 million. Trading activity averages at 5.86M shares per day, while the company's market capitalization stands at $2.94B.

Biotech Stocks to Watch

According to our ST Score evaluation, PharmaCyte Biotech Inc (PMCB) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 50. The stock's profitability and financial strength are strong. However, its performance is weak. Additionally, it is neutral in terms of growth, stock sentiment, Piotroski Score, and forecast.

Our ST Score also classifies Edesa Biotech Inc (EDSA) as a high-quality Biotech stock today, presenting a Score of 49. The stock has strong fundamentals in terms of performance and financial strength. However, it has weak growth. The profitability, stock sentiment, Piotroski Score, and forecast are neutral.

Another stock in the category, Artelo Biosciences Inc (ARTL) has the ST Score of 51, 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 the forecast suggest a neutral outlook.

Belite Bio Inc ADR (BLTE) stock has the ST Score of 50 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 growth, and Piotroski Score. However, it shows neutral outlook in stock sentiment, and forecast.

Inhibrx Biosciences Inc (INBX) currently has the ST Score of 50, which signifies a huge upward potential. The Biotech stock's strong points are its performance and Piotroski Score. The stock's profitability, growth, financial strength, 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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