Endocyte, Inc. ECYT
We took notice of ECYT yesterday morning during our routine premarket scan, and due to some abnormal activity, we decided to include it in the daily watchlist.
It turned out to be a splendid idea, with the stock ultimately recording a hugely bullish session. ECYT traded from its low of 1.63 just following the open, to its high of 3.75 just prior to the close. It worked out to a single-session rip of 130% and it came on over 180X the monthly average volume. The stock has also hit a new high of 6.07 in the premarket this morning, pushing our observed move in less than 24 hours to a whopping 272%
It was especially impressive because of the timing, which couldn’t have been any better. Prior to yesterday’s session the stock was stagnating for several months. The move was catalyzed primarily by the announcement of the completion of a worldwide license on the company’s prostate cancer treatment, which will be moving on to Phase III development. (>>View PR)
Rigel Pharmaceuticals, Inc. RIGL
Speaking of solidly-timed calls on pharma plays, we also caught RIGL and included it in yesterday’s premarket report. It didn’t see the type of move that the previously mentioned stock, but got off to a respectable start.
RIGL traded in a range from 2.85-3.42, a modest rise of 20%, but did so on nearly 17X the monthly average volume, and closed near its high of day. We’ll continue to observe this play to see if it can establish a sustained uptrend.
Capricor Therapeutics, Inc. CAPR
What followed was another nice session for the stock, which ran to a new high of 4.25; a total increase of 136% in a span of just eight trading days.
Tiffany & Co. TIF – Options Update
We also want to quickly update readers on our TIF options ideas that we submitted on the morning of September 28th, the TIF 10/20 $92-93 Calls. The stock has been in a continuous bullish pattern since then, and those calls made some pretty nice gains in the process.
$92 Calls – Range: 1.00-2.13 – Max Gain: 113%
$92.50 Calls – Range: .85-1.74 – Max Gain: 105%.
$93 Calls – Range: .83-1.88 – Max Gain: 127%
ETRM, VICL, DMPI, TA, KOOL, CATB