This article was written by Follow Todd Sullivan is a Massachusetts-based value investor and Co-Founder and General Partner in Rand Strategic Partners. He looks for investments he believes are selling for a discount to their intrinsic value given their current situation and future prospects. He holds them until that value is realized or the fundamentals…
Andres Victorero The above is Briefing.com’s weekly economic data table. April ’24 PPI and April ’24 CPI are due out Tuesday, May 14th, and Wednesday, May 15th, respectively. Shelter or OER (owners’ equivalent rent) has a significant influence on the CPI given its weight (roughly 30% of the inflation gauge) and then add in auto…
Telephone and Data Systems, Inc. (NYSE:TDS) Q1 2024 Earnings Conference Call May 3, 2024 10:00 AM ET Company Participants Colleen Thompson – Vice President, Corporate RelationsVicki Villacrez – Executive Vice President & Chief Financial OfficerLT Therivel – President & Chief Executive Officer, UScellularDoug Chambers – Executive Vice President, Chief Financial Officer & TreasurerMichelle Brukwicki –…
Adam Gault Thursday’s first-quarter GDP report delivered a one-two punch for markets: slower-than-expected growth and hotter-than-expected inflation. In reaction, stocks fell and US Treasury yields rose. At first glance, the risk-off response looks reasonable. But a closer look at the GDP numbers still leaves room for debate. Let’s start with the offending data that sent…
Dilok Klaisataporn The latest retail sales data suggests a robust consumer, leading economists to become even more optimistic about more robust economic growth this year. To wit: “It has been two years since forecasters felt this good about the economic outlook. In the latest quarterly survey by The Wall Street Journal, business and academic economists…
Caiaimage/Martin Barraud/iStock via Getty Images Zymeworks Inc. (NASDAQ:ZYME) is a clinical-stage biotechnology company focused on developing innovative therapies for challenging to treat cancers and other serious conditions. ZYME leverages proprietary platforms concentrated on Multispecific Antibody Therapeutics and Antibody-Drug Conjugate Technologies. These platforms drive the creation of treatments to support a dynamic pipeline of drug candidates,…
Torsten Asmus Listen below or on the go on Apple Podcasts and Spotify Yimin Xu of Cestrian Capital Research on past easing cycles, strong economic data and Fed rate cuts (0:40). Sticky inflation and bond market equilibrium (2:30). Attractive 10-year yields (5:00). This is an abridged conversation from Seeking Alpha’s Investing Experts podcast. Transcript Rena…
Luis Alvarez/DigitalVision via Getty Images By Sam Korus, Director of Research, Autonomous Technology & Robotics Since late 2023, media headlines have seized on data showing that electric vehicle (EV) sales growth decelerated in 2022 and 2023, from +113% in 2021 to +59% and +28% on a year-over-year basis, respectively. Our research contextualizes this deceleration in…
Morsa Images/DigitalVision via Getty Images Nektar Therapeutics (NASDAQ:NKTR) has an interesting drug in its pipeline, rezpegaldesleukin (rezpeg), that has the potential to treat inflammation in a new way. The company is underway on a large study in atopic dermatitis, and recently announced it had initiated enrollment in another study in alopecia areata. This article takes…
red_moon_rise In my previous Gritstone bio (NASDAQ:GRTS) article, I discussed how the company’s technology could make it a cutting-edge infectious disease firm with a strong list of collaborations that could rival Moderna (MRNA) and BioNTech (BNTX). However, I also noted that the company’s biggest upside potential was its oncology programs, notably GRANITE, which could transform…
Monty Rakusen/DigitalVision via Getty Images The March US employment data were stronger than expected and lend support to the re-acceleration hypothesis and an extension of US exceptionalism. In Q1 24, nonfarm payrolls rose by an average of 276k. It was the strongest quarter in a year and compares with an average monthly job gain of…
justocker The Dominion Buy Thesis There is a tremendous spread between the sentiment on Dominion Energy, Inc. (NYSE:D) and its fundamental forward outlook. The market is approaching D with apprehension and trading it at low multiples while the fundamentals look strongly positive given the rapid growth in energy needs in Northern Virginia (NOVA) with D…
tadamichi Investment Overview Stoke Therapeutics’ (NASDAQ:STOK) stock has been soaring in response to the positive data the company shared from two open-label Phase 1/2a studies and two open-label extension (“OLE”) studies of its lead drug candidate STK-001 in children and adolescents ages 2 to 18 with Dravet syndrome, on March 25th this year. Stoke, which…
Rasi Bhadramani Introduction And Investment Thesis Thesis This analysis posits Akero Therapeutics, Inc. (NASDAQ:AKRO) as a potential short investment, premised on the assessment that its flagship product, Efruxifermin (EFX) – an FGF21 analogue – faces considerable hurdles toward achieving substantial market success. The likelihood of FDA approval appears constrained, not merely by the drug’s marginal…
Today, the US government sent a transaction that appears to indicate it may be on the verge of liquidating the remaining Bitcoin it confiscated from the online marketplace Silk Road. According to on-chain data, a 0.001 BTC test transaction, part of a larger stash of approximately 30,174 BTC worth $2 billion, was moved. The funds…
Jacob Wackerhausen/iStock via Getty Images CervoMed (NASDAQ:CRVO) has been enrolling for its phase 2b RewinD-LB study, which is using neflamapimod for the treatment of patients with dementia with Lewy bodies [DLB]. The reason to note this biotech is that it had stated that it is on track to complete enrollment of this trial in the…
Stablecoin issuer Tether has significantly expanded its Bitcoin holdings, acquiring 8,888 BTC worth around $600 million. This latest purchase was revealed through on-chain data rather than an official announcement. Tether has not publicly disclosed its Bitcoin addresses. However, transactions tracked on the blockchain show 8,888 BTC were recently sent from the crypto exchange Bitfinex to an…
Lemon_tm The first week of April will be busy, with plenty of data to come, mainly on the jobs front, with some peeks into the inflation prism. The ISM purchasing managers indexes, ADP Jobs report, JOLTS report, and employment report will tell us a great deal about the state of the economy and, more importantly,…
In a significant move, Google has begun indexing Bitcoin blockchain data into its search engine results. Users can now search for Bitcoin addresses and see transaction details directly in Google searches. NEW: Google has recently started indexing #Bitcoin data into their search engine 👀 Huge Development 👏 pic.twitter.com/hIAJfLkYXh — Bitcoin Magazine (@BitcoinMagazine) March 28, 2024…
DeanDrobot/iStock via Getty Images Pyxis Oncology (NASDAQ:PYXS) is developing antibodies and antibody-drug conjugates (ADCs) for various tumor types. When I wrote about the company in September 2023, I rated it a buy as the name was trading below cash and had the potential to run up into preliminary data from a phase 1 trial of…
champpixs/iStock via Getty Images Automatic Data Processing, Inc. (NASDAQ:ADP) was founded in 1949. ADP is the largest provider of payroll and human capital management services in the world. The company offers a wide range of products and services for businesses of all sizes, from small enterprises to large corporations. It enjoys a recurring and capital-light…
NUTCHAPONG WUTTISAK/iStock via Getty Images HilleVax, Inc. (NASDAQ:HLVX) is gearing up to report a critical catalyst in the coming months, which is going to provide significant proof of whether or not its Virus Like Particle [VLP] HIL-214 can prevent moderate-to-severe Norovirus-related acute gastroenteritis. In particular, it expects to report results from a phase 2/3 study…
JLGutierrez By James Smith UK inflation continued to head in the right direction in February and slipped further than expected to 3.4% from 4.0% a month earlier. A lot of this can be explained by food inflation, which is falling rapidly. On a month-on-month basis, producer prices for food have either been flat or slightly…
ARMMY PICCA/iStock via Getty Images Poseida Therapeutics (NASDAQ:PSTX) is expected to release results from the phase 1 study using P-BCMA-ALLO1 for the treatment of patients with relapsed or refractory multiple myeloma [r/r MM] on April 8th, 2024 12:30 p.m. PT at the American Association for Cancer Research [AACR] Annual Meeting in San Diego. Why should…
sasirin pamai By James Knightley Fed’s Powell inclined to cut rates this year, but needs the data to justify it There was nothing particularly surprising within Fed Chair Powell’s prepared monetary policy testimony to Congress – which is pretty short in fairness – or the Q&A session. The main comments are that “the risks to…
alfexe/iStock via Getty Images Akero Therapeutics, Inc. (NASDAQ:AKRO) has been able to report positive results from its phase 2b HARMONY study, which used its drug efruxifermin [EFX] for the treatment of patients with pre-cirrhotic MASH or Metabolic dysfunction-associated steatohepatitis with stage 2 or 3 fibrosis. The significance of this is that it is already in…
Khanchit Khirisutchalual The Federal Reserve remains data-dependent, as the central bank’s Chairman, Jerome Powell, likes to say, and perhaps that’s especially true now as policymakers weigh the prospects for when (or if) to start cutting interest rates this year. Recent economic data has again raised doubts about the timing for the arrival of a dovish…
Get ahead of the market by subscribing to Seeking Alpha’s Stocks to Watch, a preview of key events scheduled for the coming week. The newsletter keeps you informed of the biggest stories set to make headlines, including upcoming IPOs, investor days, earnings reports and conference presentations. Stocks to Watch subscribers can also tune in on…
Vertigo3d Tenable (NASDAQ:TENB) was reasonably upbeat on its fourth quarter earnings call, particularly around the company’s expansion into cloud and OT security. This stands in contrast to weak hiring data, slowing revenue growth and a renewed focus on cost-cutting efforts. Net new customers ticked up in the fourth quarter, but this was modest and could…
Over the past decade, Coinbase has reached millions of cryptocurrency traders and expanded to become the largest crypto exchange in the US. Despite its solid reputation, Coinbase did not avert scrutiny and skepticism. It has intensified in the past two years, driven by the sharp upsurge and plunge in crypto prices in a short period….
Telephone and Data Systems, Inc. (NYSE:TDS) Q4 2023 Earnings Conference Call February 16, 2024 10:00 AM ET Company Participants Colleen Thompson – VP, Corporate Relations Vicki Villacrez – EVP & CFO Laurent Therivel – President, CEO & Director Douglas Chambers – EVP, CFO and Treasurer Michelle Brukwicki – CFO, TDS Telecommunications LLC Conference Call Participants…
Carol Yepes/Moment via Getty Images Verve’s Genetic Play: Rewriting the Script on Cholesterol Verve Therapeutics (NASDAQ:VERV) has set out to change the way we treat cardiovascular disease. Verve’s pipeline With a myriad of safe, affordable, trusted, and effective drugs like statins, SGLT-2 inhibitors, PCSK9 inhibitors, beta-blockers, and antithrombotics, VERVE-102, a gene therapy, is entering a…
General_4530/Moment via Getty Images January’s global PMI data signalled improving global economic conditions at the start of 2024, in addition to a brightened outlook, with the sun shining especially brightly upon the financial services sector amid a loosening of financial conditions. However, further improvements hinge largely on the outlook for global interest rates and inflation….
Daniel Christel/iStock via Getty Images Investment Overview Madrigal Pharmaceuticals (NASDAQ:MDGL), the Conshohocken, Pennsylvania based biotech, is the current leader of the “NASH Dash”, that is, the race to secure a first approval for a drug developed to treat nonalcoholic steatohepatitis, or “NASH” an advanced form of non-alcoholic fatty liver disease (“NAFLD”), where buildups of fat…
Several headlines recently described a 25% drop in bitcoin network difficulty during Winter Storm Finn in January. Most attributed this drop to curtailment activity in Texas. While Texas does represent 17% of the global bitcoin hashrate, ERCOT data shows that some of the curtailment activity was a combination of higher prices and “good grid citizenship.”…
Evgenii Kovalev Taysha Gene Therapies, Inc. (NASDAQ:TSHA) has the first gene therapy in the clinic targeting Rett syndrome. This program has excellent early data. However, what worries me is that they used to have three other programs which also had excellent early data. But they abandoned these programs after taking them through some trials. One…
Aksana Kavaleuskaya By James Knightley, Chief International Economist ISM services rebounds, but contradictions with official data continue The ISM services index has bounced back nicely in January with the headline index at 53.4 versus 50.5 in December. The consensus was 52.0 with anything above 50 equating to expansion and anything below 50 being a contraction….
Martin Poole/The Image Bank via Getty Images Topline Summary and Update Karyopharm Inc. (NASDAQ:KPTI) is a commercial-stage biotech marketing and continuing to develop a single agent, the exportin 1 inhibitor selinexor. In my last article, I felt that the big catalysts for the company were too far away to justify the market valuation at that…
Dilok Klaisataporn Investment Overview The biotech industry can be a tough business to be in, but investors favour the sector, pouring money into even the earliest stage companies, who may not have much more than a molecule and high cash burn to offer in return. Buying biotech stock is similar to buying a lottery ticket…
ebrublue10 Prelude Therapeutics (NASDAQ:PRLD) is an early stage developer of cancer therapeutics. In 2022, their lead candidate, and the one program with efficacy data, used to be PRT811. PRT811 is a PRMT5 inhibitor which ran a phase 1 trial in solid tumors, including glioma and splicing mutated uveal melanoma, where it saw some positive data….
herkisi Overview The dollar (USDOLLAR, DXY) is offered ahead of today’s US jobs report, even though expectations are for solid, if not spectacular, jobs growth of around 185k. The Australian and New Zealand dollars are leading today’s move, while the euro approached $1.09, which it has not traded above this week. Sterling neared the lower…
cemagraphics In my last three posts, I looked at the macro (equity risk premiums, default spreads, risk free rates) and micro (company risk measures) that feed into the expected returns we demand on investments, and argued that these expected returns become hurdle rates for businesses, in the form of costs of equity and capital. Since…
Pgiam/iStock via Getty Images Verona Pharma plc (NASDAQ:VRNA) develops medicines for respiratory diseases. Its lead (and only) asset is ensifentrine, an inhaled and dual inhibitor of the phosphodiesterase (“PDE”) 3 and PDE4 enzymes. Ensifentrine is being developed in three formulations, as a nebulizer, a dry powder inhaler or DPI and pressurized metered-dose inhaler or MDI….
By leveraging NEAR DA, Polygon developers can enjoy substantial reductions in data availability costs, enhancing the overall efficiency of their rollups. The collaboration between the NEAR Foundation and Polygon Labs marks an important milestone in Ethereum scaling. By integrating NEAR Data Availability (NEAR DA) with Polygon Chain Development Kit (CDK), developers using Polygon CDK now…
Vertigo3d I have a small stake and high hopes in REGENXBIO (RGNX), however RGNX stock has consistently failed to perform. From my last article in May, the stock is down 26%. The latest fall came after they announced “positive” interim data two days ago from their “Phase II AAVIATE® trial of ABBV-RGX-314 for the treatment…
The partnership is expected to reduce the risk of loss linked to liquidations when trader’s positions are undercollateralized. The Sui Foundation has partnered with off-chain data feed oracle Stork to provide traders and developers with fast pricing data. The Sui Foundation is the organization behind the layer-1 blockchain Sui and hopes to leverage Stork’s technology…
Pgiam/iStock via Getty Images Relmada Therapeutics (NASDAQ:RLMD) is a nanocap company developing therapies for CNS diseases. Lead asset is Esmethadone or REL-1017, which functions as a blocker for N-methyl-D-aspartate (NMDA) receptor channels, specifically targeting hyperactive GluN2D channels. NMDA receptors play a crucial role in physiological neural plasticity, and causing various central nervous system (CNS’) disorders,…
BlackJack3D Coya Therapeutics (NASDAQ:COYA) targets inflammation by modulating the function of regulatory T cells (Tregs) in neurological diseases. The “original” lead asset used to be COYA 101, an autologous regulatory T-cell product candidate with a completed Phase 2a trial in Amyotrophic Lateral Sclerosis under its belt. The trial was completed way back in 2022. However,…
CIPhotos Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) is a precision oncology company targeting genetically defined cancers. It calls its approach the Masterkey approach, which aims to provide one solution for many types of cancer mutations and address the disease in a much broader range of patients than current precision therapies can access. Its oral therapies are…
joxxxxjo Overview The mostly consolidative week for the US dollar continues. Most of the G10 currencies are +/- about 0.25% today and only a slightly wider range for the week. The odds of a Fed rate cut in March is virtually unchanged on the week at around 75%. The JP Morgan Emerging Market Currency Index…