The Ishares Nasdaq Biotechnology ETF (IBB) moved up again by .42% closing at $108.62. This sector has been on a nice run over the last 30 days. Bedford, Massachusetts-based Stoke Therapeutics is a biotechnology company pioneering a new way to treat the underlying cause of severe genetic diseases by precisely upregulating protein expression. On Wednesday, Stoke Therapeutics announced the pricing of its initial public offering (IPO) of 7,891,110 shares of its common stock at a price to the public of $18.00 per share. The shares are now trading on The Nasdaq Global Select Market as of June 19, 20,19 under the symbol “STOK.” Stoke’s stock has traded as high as $30 yesterday prior to closing trading at $25.57/share up 42.06% which equates to approximately a $774 million market cap. See complete story. Today STOK shares moved higher closing at $26.00 up 1.68%. INVO Bioscience, Inc. (IVOB) ended the day up a whopping 9.46% on 157,590 shares of trading. IVOB is a medical device company, headquartered in Medford, Massachusetts, focused on creating simplified, lower cost treatment options for patients diagnosed with infertility. The company’s lead product, the INVOcell, is a novel medical device used in infertility treatment that is FDA cleared and that enables egg fertilization and early embryo development in the woman’s vaginal cavity. IVOB announced this week news of the recent appointment of Pressly Ahammed as the new Director of International Business Development and he will be responsible for the Company’s international distribution channels in Europe, Middle East, Africa & parts of Asia. Ahammed joined IVOB from Cooper Surgical where he held a similar position. See complete story. Pfizer (PFE) closed up .23% at $43.60 after this week’s announcement about their acquisition of Array BioPharma (ARRY) for ~$11.4 billion or $48/share in cash. The pharmaceutical giant and Dow component Merck & Co, Inc. (MRK) that recently announced the acquisition of Tilos Therapeutics for a consideration of up to $773 million closed at $84.60 down by .89%.
Big tech stocks came in higher today. Amazon (AMZN) gained .49% closing at 1,918.19, Alphabet (GOOG) was up .82% closing at 1,111.42, Apple (AAPL) was up .80% closing at $199.46, Facebook (FB) rose 1.09% closing at $189.53. Shares of Microsoft (MSFT) moved higher by .93% closing at $136.95 & Intel (INTC) gained .25% closing at $47.19/share. On the recent IPO front, Zoom Video Communications (ZM) moved lower by .09% closing at $102.30 & Uber Technologies (UBER), the ride-sharing company lost 2.23% closing at $43.86/share but still below its recent IPO price of $45. Plant-based burger maker Beyond Meat (BYND) closed at $165.17 lower losing 2.34%. Their meat is made of four main ingredients: water, pea protein isolate, canola oil & refined coconut oil and is meant to taste like “meat. Slack Technologies (WORK) jumped into the public markets with their IPO today and closed at $38.62 up 48.5% from their offering price of $26/share. Their closing day market cap is 19.74 Billion Slack is a provider of a cloud-based workplace messaging app and went public via a direct listing avoiding paying fees to the relevant banks. Entertainment giant Disney (DIS) closed at $142.02 up .78%. Institutional alternative asset manager Och-Ziff Capital Management Group (OZM) closed at $22.40 up 4.04%. The 52-wk range is $8.60 – $23. OZM sports a healthy 5.65% cash dividend.
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