Traders Lens

$ALT gapped up today on news that in a Phase 2 trial, its drug Pemvidutide showed success in inducing weight loss. The results showed that more than 50% of enrollees achieved at least 15% weight loss, while more than 30% of people achieved at least 20% weight loss on certain doses.

$SPY has been taking a bit of a breather the last 7 trading days after the incredible up move in November. Its been finding some resistance as it is now trying to break through to new highs for the year 2023.

Cancer drug maker $IMGN is up over 80% today after it was announced that AbbVie agreed to buy ImmunoGen for $10.1 billion. That will pay $31.26 per share, a roughly 95% premium to where the price closed yesterday. The main reason for AbbVie going through with the deal, is for the drug Elahere, which us used for the treatment of ovarian cancer. AbbVie says the drug could eventually reap billions of dollars in annual sales and drive long-term revenue growth, But that in the near term, it expects the deal to be dilutive to its earnings until 2027.

$VVOS is up over 300% today after the company got FDA clearance for its Vivos CARE appliances, which are used for the treatment of obstructive sleep apnea.

$SEEL continues to slide after the biopharmaceutical company said it was raising $5.55 million in a dilutive public offering

EV maker $FUV has had pretty good run the past 5 trading days and has clawed back the losses sustained in the past few months. It’s now closing in on testing its 200DMA

Shares in Argentinian state-run oil company $YPF soared last week after President-elect Javier Milei said he would seek to privatize the oil company.

$LNG, a liquified natural gas company is trading close to its all time highs at about $180, a level that it first hit in October of 2022.

Petroleum refining company $MPC looks to be trading in a steady uptrend the last few years on its weekly chart. It has also maintained a weekly RSI(14) of at or above 50 for most of that period as well.

$BNO has been trading in a range since early 2022 and has been pretty much flat year to date in 2023. Brent and Crude oil have been performing a lot better than natural gas in that period.

$BDRX is up over 100% and the leader of the Nasdaq after the company entered an agreement to acquire Adhera Therapeutics’s rights to tolimidone, a potential diabetes treatment

$ASST is the leader of the Prism MarketView AdTech & Media index. Up around 100% at the time of posting. The reason for the move is the announcement of a stock repurchase program allowing for the purchase of up to 1.25 million shares of its Class B common stock. Despite the move higher today, the stock is still down a lot from its highs earlier in the year