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Some Big Small Biotech Winners On Monday In An Overall Negative Day In The Markets

By John F. Heerdink, Jr.

The market indices all began and ended in negative territory, but we did see some amazing big moves in a number of small biotech firms on Monday. The indices ended as follows: the Nasdaq was overall the big loser today as it lost 1.25% closing at 13,036.43 as we saw popular and major components pull back like Apple (AAPL) ($129.98, -2.32%) & Tesla (TSLA) ($68.83, -7.82%), the Dow 30 closed at 31,008.69 (-.29%) as Walgreens Boots Alliance (WBA) closed at $47.70, +5.5% as they continued their recent move higher receiving a couple of Buy Ratings from Guggenheim & Robert W. Baird., the S&P 500 also closed at 3,799.61 (-.66%), & the little guys on the Russell 2000 closed at 2,091.01 (-.03%).  To the lead the overall decline today the communication services sector  dropped 1.8%,  the consumer discretionary sector lost 1.9%, & the information technology sector fell .9%.

THE MACRO

The macro schedule did not deliver any reports today, but interest rates continued to bump up as we await Biden’s economic package that he has stated will cost us. The 2-yr treasury yield rose 2 basis points to end at .15%, & the 10-yr yield rose another 3 basis points to end at 1.13% while the U.S. Dollar Index moved up .5% to end at 90.51. Tomorrow, we will receive the Consumer Price Index report for December, the Treasury Budget report for December, the Fed’s Beige Book for January, & the weekly MBA Mortgage Applications Index report.

TECH HIGHLIGHTS

The heavily weighted & popular FAANG’s had a no-so-great day today all ending down at least 2% or greater as follows: Apple (AAPL) shares closed at $129.98, -2.32%,  Amazon (AMZN) ($3,114.21, -2.15%), Alphabet (GOOG) ($1,766.72, -2.24%), Facebook (FB) closed at $256.84, -4.01%, & Netflix (NFLX) closed at $499.10/share, -2.21%. 

The Wall Street Journal recently published an article about how Amazon.com Inc. (AMZN) & Walmart Inc. (WMT) and a few other firms are using artificial intelligence (AI) to decide whether it makes sense to process a return as it is often cheaper to refund the purchase price and let customers keep the products. This practice has increased during the COVID-19 epidemic. 

Chinese EV concern NIO Limited (NIO) closed at $62.70/share, +6.42% after reaching a new all-time record high of 66.99/share.

Leading provider of hydrogen engines and fueling solutions enabling e-mobility, Plug Power (PLUG), closed at $53.97/share near their recently established all-time high of $55.98. Last week, Plug and the SK Group also announced that the companies intend to form a strategic partnership to accelerate hydrogen as an alternative energy source in Asian markets. SK Group will make a $1.5 billion (9.9% stake) strategic investment in Plug Power. Recently, PLUG announced that is expanding is relationship with Walmart (WMT) & confirmed that they had sold 38M shares priced at $22.25/shares raising a whopping $845.5M which represented about 9.1% of the shares outstanding and which brought their capital to the $1.7B range but when you add in the $1.5B announced today that is ~3.2B!

BIG JUMPS/JPMORGAN CONFERENCE

During the annual San Francisco-based JPMorgan Healthcare Conference Week, being held again this week but virtually this time, traditionally has brought forth great value for companies and shareholders that present at JPMorgan and many that are not invited. Today, three companies not presenting at JPMorgan but that are very interesting increased signficantly in value.  Little known GeoVax labs (GOVX) skyrocketed to $7.40/share prior to closing at $5.36, +62.42% on 20.43 million shares of trading volume. GOVX announced today that the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), has awarded the Company a Small Business Innovative Research (SBIR) grant in support of its development of a vaccine against SARS-CoV-2, the virus that causes COVID-19. Isoray (ISR) jumped up to $2.05/share prior to closing at $1.95/share, +39.29% on 40.02 million shares of trading volume. ISR, through its subsidiary, Isoray Medical, Inc. is the sole producer of Cesium-131 brachytherapy seeds, which are expanding brachytherapy options throughout the body. TransEnterix, Inc (TRXC)  skyrocketed to $2.28/share today prior to closing at $1.66/share, +53.10% on 165.85M shares of trading volume. TRXC is a medical device company that is digitizing the interface between the surgeon and the patient to improve minimally invasive surgery.

GOLD, SILVER & OIL

Silver closed closed down again at $24.96/oz, -.51 and gold closed at 1,843, -6. North American Silver and gold producer Hecla Mining Company (HL) closed at $5.98/share, -1.64%. HL’s 52-week range is $1.4 – $7.06. Oil prices also pulled back dropping .1% & ending at $52.19/bbl. Chevron (CVX) closed at $81.60, +.57% as Morgan Stanley’s analyst Devin McDermott was reported to have raised his rating to Overweight and stated at that the stock could return 30% with dividends believing that its cost cutting measures and holding back on capital spending for the next several years somewhat secures the dividend going forward. Exxon Mobil (XOM) closed at $46.84, 3.0%.

VP WATCH LIST HIGHLIGHTS

  • Shares of Atossa Therapeutics, Inc. (Nasdaq: ATOS) closed at $$1.10/share, +14.7% and traded 27.97 Million shares after raising an additional $25.2M last week. When you add that to the two raises that they completed in December 2020 (totaling $37M gross proceeds) that means they have raised $62.2M in gross proceeds between three equity raises affording the company a significant development runway and many more options to be considering.
    •  Atossa is a clinical-stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical need with a current focus on breast cancer and COVID-19.
    • Atossa recently announced blinded preliminary results from its Phase 1 clinical study using Atossa’s proprietary drug candidate AT-301 administered by nasal spray. AT-301 was found to be safe and well tolerated in this study at two different dose levels in both single and multiple dose forms over 14 days. AT-301 is being developed for at home use for patients recently diagnosed with COVID-19. There are currently no FDA-approved therapies to treat COVID-19 at home.  They are eyeing and FDA nod to hopefully move into a Phase 2 trial as soon as possible. 
  • Natural-Killer cell (NKcell) focused biopharmaceutical firm Fate Therapeutics (FATE) closed at $112.01/share, -3.7% today. Last week, they announced the pricing of an underwritten public offering of ~$400 million. Jefferies, BofA Securities, SVB Leerink and Barclays acted as joint book-running managers for the offering.

    • We started with Fate over 3 years ago when it was in the $3 range. Fate’s 52-wk range is $16.75- $103.86. 

    • Recently, Fate presented a patient case study from the Company’s Phase 1 clinical trial of FT596, its universal, off-the-shelf, CD19-targeted chimeric antigen receptor (CAR) natural killer (NK) cell product candidate, at the 62nd Annual Society of Hematology Annual Meeting and Exposition and the street loved it. NK cells are the body’s first line of defense against viral infections and cancerous cells with an innate ability to rapidly seek and destroy transformed cells. NK cell therapy has the potential to 1) target multiple pathogenic antigens with measurably more efficient cytotoxicity, 2) be better controlled to reduce risk of cytokine storms and 3) be produced from a variety of sources without relying on patient-specific immune cells. Dr. Wayne Chu, Senior Vice President, Clinical Development of Fate Therapeutics stated, “The safety, pharmacokinetics and clinical activity observed following both the first and second single-dose treatment cycles of FT596 are compelling, especially when considering that the administered cell dose was significantly lower than the recommended cell dose of FDA-approved autologous CD19-targeted CAR T-cell therapies and that the heavily pre-treated patient was refractory to last prior therapy. We are excited the CAR component of FT596 has shown clinical activity at this low dose level, and we continue to enroll patients in dose escalation with FT596 as a monotherapy and in combination with rituximab.”

  • Shares of INVO Bioscience (INVO) closed trading at $3.01/share, -1.31%. Last week, INVO’s Management Issued a letter to shareholders that spoke to their key developments and future initiatives that has positioned their product INVOcell® within the severely underserved fertility market. PLEASE READ IT HERE.
    • INVO is a medical device company focused on creating alternative treatments for patients diagnosed with infertility and developers of INVOcell®, the world’s only in vivo Intravaginal Culture System. Industry forecasts suggest that only 1% to 2% of the estimated 150 million infertile couples worldwide are currently being treated. INVO’s mission is to increase access to care and expand infertility treatment across the globe with a goal of improving patient affordability and industry capacity. Since January 2019, INVO Bioscience has signed commercialization agreements in the United States, India, as well as parts of Africa and Eurasia and Mexico for the INVOcell device.
    • INVO received BUY Ratings from both Roth Capital ($5 PT) & Collier International Securities ( $5.75 PT) in December, 2020.  
  • Shares of next generation of gene silencing therapies firm NeuBase Therapeutics (NBSE) closed trading at $7.67, -1.16%.
    • NeuBase is developing the next generation of gene silencing therapies with its flexible, highly specific synthetic antisense oligonucleotides. The proprietary NeuBase peptide-nucleic acid (PNA) antisense oligonucleotide (PATrOL™) platform allows for the rapid development of targeted drugs, increasing the treatment opportunities for the hundreds of millions of people affected by rare genetic diseases, including those that can only be treated through accessing of secondary RNA structures. Using PATrOL technology, NeuBase aims to first tackle rare, genetic neurological disorders.
  • Leading provider of hydrogen engines and fueling solutions enabling e-mobility, Plug Power (PLUG), closed at $53.97/share, +.36% near their recently established all-time high of $55.98. Last week, Plug and the SK Group also announced that the companies intend to form a strategic partnership to accelerate hydrogen as an alternative energy source in Asian markets. SK Group will make a $1.5 billion (9.9% stake) strategic investment in Plug Power. Recently, PLUG announced that is expanding is relationship with Walmart (WMT) & confirmed that they had sold 38M shares priced at $22.25/shares raising a whopping $845.5M which represented about 9.1% of the shares outstanding and which brought their capital to the $1.7B range but when you add in the $1.5B announced today that is ~3.2B!

Make sure you check out the interesting quotes and the videos that I have highlighted below. 

Markets

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Big Movers

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Bond Markets & US Dollar

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Agriculture & Energy

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Biotech & Healthcare

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Consumer Goods & Trends

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Financials & Fintech

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Materials & Natural Resources

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Technology & Beyond

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Investing & Inspiration

“Behind every stock is a company. Find out what it’s doing.” — Peter Lynch

“Wise spending is part of wise investing. And it’s never too late to start.” –Rhonda Katz

“It amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble.” ― Robert Shiller

“A bull market is like sex. It feels best just before it ends.” — Barton Biggs

“The investor’s chief problem — even his worst enemy — is likely to be himself.” — Benjamin Graham

“No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.” – Robert Rhea

“Money is like a sixth sense – and you can’t make use of the other five without it.” – William Somerset Maugham

“Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” — Albert Einstein

“Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results” — Warren Buffett

“The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffett

“Thousands of experts study overbought indicators, head-and-shoulder patterns, put-call ratios, the Fed’s policy on money supply…and they can’t predict markets with any useful consistency, any more than the gizzard squeezers could tell the Roman emperors when the Huns would attack.” – Peter Lynch

“Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone

“You cannot save time for your future use however you can invest time for your future.” – John F. Heerdink, Jr. 

“Know what you own, and know why you own it.” – Peter Lynch

“Liquidity is only there when you don’t need it.” -Old Proverb

“If you want to be a millionaire, start with a billion dollars and launch a new airline.” – Richard Branson

“Fear incites human action far more urgently than does the impressive weight of historical evidence.” – Jeremy Siegel

“In investing, what is comfortable is rarely profitable.” – Robert Arnott

“Spend each day trying to be a little wiser than you were when you woke up.” – Charlie Munger

“The entrance strategy is actually more important than the exit strategy.” – Edward Lampert

“The rivers don’t drink their own water; Trees don’t eat their own fruits. The sun does not shine for itself, And flowers do not spread their fragrance For themselves. Living for others is a rule of nature” – Pope Francis

“It is impossible to produce superior performance unless you do something different from the majority.” – John Templeton

“An investment in knowledge pays the best interest.” – Benjamin Franklin.

I believe the returns on investment in the poor are just as exciting as successes achieved in the business arena, and they are even more meaningful!” -Bill Gates

“Every portfolio benefits from bonds; they provide a cushion when the stock market hits a rough patch. But avoiding stocks completely could mean your investment won’t grow any faster than the rate of inflation.” – Suze Orman

“The tax on capital gains directly affects investment decisions, the mobility, and flow of risk capital… the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy.” – John F. Kennedy

“If all the economists were laid end to end, they’d never reach a conclusion. -George Bernard Shaw

“There are old traders and there are bold traders, but there are very few old, bold traders.”-Ed Seykota

“Let this scenario play out on its own, in its own fashion. As you watch it unfold, you will soon be grateful that you choose the peaceful path. Remember — those who live by the sword, die by the sword.”

“As long as you enjoy investing, you’ll be willing to do the homework and stay in the game.” -Jim Cramer

“I rarely think the market is right. I believe non-dividend stocks aren’t much more than baseball cards. They are worth what you can convince someone to pay for it.” -Mark Cuban

Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money.” -Bruce Kovner

“The policy of being too cautious is the greatest risk of all.” -Jawaharlal Nehru

“The only true test of whether a stock is “cheap” or “high” is not its current price in relation to some former price, no matter how accustomed we may have become to that former price, but whether the company’s fundamentals are significantly more or less favorable than the current financial-community appraisal of that stock.” -Philip Fisher

“I learned to avoid trying to catch up or double up to recoup losses. I also learned that a certain amount of loss will affect your judgment, so you have to put some time between that loss and the next trade.” -Richard Dennis

“The four most dangerous words in investing are: ‘this time it’s different.” -Sir John Templeton

“Money doesn’t make you happy. I now have $50 million but I was just as happy when I had $48 million.” -Arnold Schwarzenegger

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Videos

Please consider viewing these interesting videos:



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