Midday Momentum: Biotech Stocks & Under-the-Radar $10 Gems

Stocks slipped Thursday as investors processed the latest tariff threat from President Donald Trump, while also analyzing new U.S. inflation data.

As of 11:38 AM ET, the Dow was down -398.24 points, or -0.96307%, at $40952.7. The Nasdaq Composite lost -305.76 points, or -1.56032%, at $19290.26. The S&P 500 declined -60.7 points, or -1.08407%, at $5538.59. Among the 11 major S&P 500 sectors, 10 showed negative movement, with Consumer Defensive leading the way with a -2.19% decrease.

Worries over U.S. trade policy have weighed on stocks this week. The S&P 500 and Nasdaq are on track for losses of around 3%, while the Dow is down 3.4%, heading for its worst week since March 2023. The broad market index briefly dipped into correction territory on Tuesday, down 10% from a record set in February.

However, there was some encouraging inflation data on Thursday. February’s producer price index, which measures the cost of producing consumer goods and is a key indicator of inflationary pressures, remained flat for the month, contrary to expectations for an increase. This, along with a softer-than-expected February consumer price index reading, may have helped ease concerns about the direction of the economy and the potential inflationary impact of tariffs.

Top Movers: Under $10

Lifeward Ltd (LFWD) is up 39.80% today to trade at the current level of $2.06. This comes after the company announced that it has received 510(k) FDA clearance for the newest generation of its personal exoskeleton device, the ReWalk 7.

Aveanna Healthcare Holdings Inc (AVAH) zoomed 33.53% in today’s trade to $4.99 after announcing financial results for the three-month period and fiscal year December 28, 2024.

In current trading, MeiraGTx Holdings plc (MGTX) stock is at $8.35 after announcing a broad strategic collaboration with Hologen Limited. The company also reported Q4 and full-year 2024 financial and operational results.

ConnectM Technology Solutions Inc (CNTM) rose 17.61% in the early hours of today's trading to move at $0.74 after announcing $10 million share repurchase program.

In the current trading session, ImmunoPrecise Antibodies Ltd (IPA) jumped 11.48% to $0.41 over a previous close of $0.36 after announcing a strategic partnership with a leading biotechnology company with a multi-billion-dollar market capitalization to advance the discovery and development of Antibody-Drug Conjugates (ADCs) and bispecific antibodies for the treatment of cancer.

Ex-Dividends Stocks

Acco Brands Corporation (ACCO) 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 $0.07 per share. It has fixed March 14 as the record date for the same and will pay the actual dividend on March 26. Last year, the company distributed a total of $0.30 to its shareholders. Based on the last year's worth of payments, ACCO has a trailing yield of 6.33% on the current stock price of $4.74.

Shares of Digital Realty Trust Inc (DLR) will be the talk of the stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $1.22 per share, and in the last 12 months, it paid a total of $4.88 per share. Last year's total dividend payments show that DLR has a trailing yield of 3.25% on the current share price of $150.37.

EBay Inc (EBAY) is also set to go ex-dividend tomorrow. The next dividend payment from EBAY will amount to $0.29 per share. March 14 has been designated as the record date for this dividend, with the actual payout scheduled for March 28. In the previous year, EBAY distributed a total of $1.35 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for EBAY stands at 2.07% based on the current stock price of $65.28.

KBR Inc (KBR) will be paying out a dividend of $0.17 per share to shareholders holding their shares as of the close of the business hours on the record date of March 14. Over the past 12 months, KBR has paid out a total of $0.60 per share in dividends. Based on the total dividends paid out last year, KBR boasts an impressive trailing yield of 1.19% on the current share price of $50.28.

Crypto Market Highlights

• Web3 marketing firm Addressable has launched a new metric, cost per wallet (CPW), to enhance user acquisition tracking for decentralized applications (DApps) and blockchain businesses.

• Representatives of US President Donald Trump’s family have reportedly discussed acquiring a stake in the crypto exchange Binance.

• Wallet in Telegram, a third-party cryptocurrency wallet Mini App, is set to expand its custodial crypto services by adding at least 50 new cryptocurrencies and launching an earn feature for users.

• Turkey is advancing its cryptocurrency regulations with new rules for crypto asset service providers (CASPs), as the Capital Markets Board (CMB) published two regulatory documents on March 13 regarding licensing and operations.

• European consumers have shown little interest in adopting a central bank digital currency (CBDC), raising concerns for the European Central Bank (ECB) as it prepares for the digital euro's potential launch.

Most Shorted Stocks

Auddia Inc (AUUD) was one of the most shorted stocks as of latest short interest figures, with 73.98% 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 0.3. This represents a change of 316700 shares, which corresponds to a +117.08% increase in short interest. The total value of the shares held short is estimated to be around $0.16 million. The average daily volume stands at 2.21M shares, and the market capitalization of the company is $2.42M.

The B. Riley Financial Inc with the symbol RILY currently has a short interest of 62.44%. The short interest has changed by 950000 shares. The days to cover ratio stands at 5.0. The estimated value of the shares held short is approximately $40.84 million. On an average day, 2.11M shares are traded, with the company's market capitalization totaling $126.56M.

For the stock Mullen Automotive Inc (MULN), the current short interest is at 51.87%. This represents a significant short interest change of 943100 shares, corresponding to a short interest percentage increase of +565.07%. The days needed to cover the short positions amount to 0.5. The approximate worth of the shares held short is $1.11 million.

With the symbol KSS, the stock currently has a short interest of 50.28%. The short interest change is 7470000 shares, compared with a short interest percentage change of +15.91%. It would take approximately 6.0 days to cover all the short positions. The shares short value is estimated to be around $9.29 million. The company boasts an average daily volume of 9.13M shares, contributing to a market capitalization of $931.72M.

The stock BYND has a current short interest of 55.27%. The short interest percentage has experienced an increase of +3.88% while there was a change of 1230000 shares in short interest. The ratio indicating the time required to cover short positions is 8.6. The calculated worth of the shorted shares amounts to around $176.35 million. Trading activity averages at 3.74M shares per day, while the company's market capitalization stands at $246.67M.

Biotech Stocks to Watch

According to our ST Score evaluation, Kiora Pharmaceuticals Inc (KPRX) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 66. The stock's profitability, performance, financial strength, and Piotroski Score are strong. Additionally, it is neutral in terms of growth, stock sentiment, and forecast.

Our ST Score also classifies Oramed Pharmaceuticals, Inc (ORMP) as a high-quality Biotech stock today, presenting a Score of 66. The stock has strong fundamentals in terms of profitability, performance, and financial strength. However, it has weak stock sentiment and forecast. The growth and Piotroski Score are neutral.

Another stock in the category, Fennec Pharmaceuticals Inc (FENC) 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, and financial strength. Stock sentiment, piotroski score, and forecast suggest a neutral outlook.

Halozyme Therapeutics Inc (HALO) stock has the ST Score of 63 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 a neutral outlook in growth, financial strength, stock sentiment, and forecast.

Vanda Pharmaceuticals Inc (VNDA) currently has the ST Score of 63, which signifies a huge upward potential. The Biotech stock's strong points are its profitability and performance. The stock's growth, financial strength, stock sentiment, Piotroski Score, 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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