DENVER, Colo., Oct. 27, 2023 (www.247marketnews.com)- The following companies were among the listings that we covered this week;
Monday
We didn’t like how the market was trading, but covered INVO Bioscience (NASDAQ: INVO) when it was at $1.91, up $1.37 (+253.70%), on 22.97M shares traded. We were going to cover it in the premarket, when it was at about $1.50, and finally did a little after the regular session open. It hit a high of $3.04 and could have been extra special, but the many trading halts finally killed its rally. It closed at $2.12, up $1.58 (+292.59%), on 106,279,966 shares traded.
We also covered Webuy Global (NASDAQ: WBUY) when it was trading at $3.70, up $0.55 (+17.31%), on 227.06K shares traded. It hit $4.9751 and closed near that high at $4.94, up $0.81 (+19.61%), on trading volume of 299,099 shares.
The last momo that we covered was Akumin Inc (NASDAQ: AKU), which was trading at $0.34, up $0.19 (+129.77%), around noon, on 82.19M shares traded. It popped and hit its $0.499 high about an hour later, then closed at $0.357, up $0.2112 (+144.86%), on trading volume of 141,158,565 shares.
Tuesday
Despite being a travel day, we were able to cover LianBio’s (NASDAQ: LIAN) deal with Bristol Myers Squibb (NYSE: BMY) for total upfront consideration of $350 million, to develop and commercialize mavacamten in six Asian markets, when LianBio was trading at $2.20, up $0.81 (+58.27%), on 384.6K premarket shares traded.
It hit $4 in the premarket, dropped to open the regular session at $2.50, where it took an hour to get back to the $3 level, which became the floor for the rest of the day. The regular session high was $3.49 and it closed at $3.02, up $1.63 (+117.27%), on trading volume of 92,818,694 shares.
Today, it hit $4.28 and closed at $3.90, up $0.13 (+3.45%), on 5,694,644 shares traded.
Wednesday
Thursday
TransCode Therapeutics (NASDAQ: RNAZ) reported improved survival in mice implanted with human GBM tumors treated with TTX-MC138 survived significantly longer than those in the control group. It was trading at $0.43, up $0.06 (+15.90%), on 561.6K premarket shares traded when we covered it and it hit a premarket high of $0.5476 and traded 12.66M premarket shares, but it couldn’t match the price action in the regular session.
ABVC BioPharma (NASDAQ: ABVC) entered into a binding term sheet regarding a multi-year, global licensing agreement with AiBtl BioPharma for the Company’s CNS drugs for $667M. We covered the news when it was trading at $1.33, up $0.48 (+56.47%), on 429.9K premarket shares traded. It hit a premarket high of $3.93 and traded 14.18M shares, before opening the regular session at $3.31. It too couldn’t match the premarket price action and topped out at $3.35, before closing at $1.28, $0.43 (+50.59%), on trading volume of 82,234,139 shares. Considering that it set its all-time trading volume record, the regular session price action was especially disappointing.
Friday
SeaStar Medical (NASDAQ: ICU) was making a premarket move, which we covered when it was trading at $1.06, up $0.268 (+33.84%), on 1.38M premarket shares. It reached $1.23 in the premarket, but could only reach $1.18 in the regular session.
BIO-key International Inc (NASDAQ: BKYI) reported that ALPI Portugal Lda. deployed BIO-key’s AuthControl Sentry solution when it was trading at $0.235, up $0.0643 (+37.67%) 136.8K premarket shares traded. It hit a premarket high of $0.4311 and traded 9,087,880 premarket shares.
We covered that Nerdwallet Inc (NASDAQ: NRDS) was trading at $8.14, up $1.50 (+22.59%), on 104.7K shares, after reporting third quarter results Thursday evening. It hit a high of $9.82 before closing $9.34, up $2.70 (+40.66%), on trading volume of 7,655,702 shares.
We’re still not thrilled with the market action, so we’re covering less listings.
Thank you for joining us this week. Have a great weekend and get ready for next week!
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