PhaseRx, Inc. PZRX
It seems like most of the big runners we’ve caught up with in recent weeks have been pharma plays of one type or another, and that trend continued yesterday. PZRX was the standout performer from our premarket watchlist, trading in a rather impressive range throughout essentially the entire session.
The stock saw an early low of .82, and surged continuously up to a high of 1.55 roughly an hour before the close. It worked out to an intraday swing of 89% and came on fantastic liquidity, with more than 43X the monthly average volume flowing through the PZRX.
The stock closed with strength in the high 1.20’s and is inching back into the 1.30’s in the premarket. The move was catalyzed by the company’s 2nd drug development candidate, PRX-ASL, for the treatment of ASLD, a rare liver disorder, has received orphan drug status by the FDA. (>>View PR)
.We’ll continue to track its activity and look for higher lows and higher highs as we head into week’s end.
Iconic Brands, Inc. ICNB
We tagged ICNB as a bottom-watch play early in the week, and have begun to see the rebound that we were looking for.
We subsequently observed a low of .0058, and yesterday with the stock reaching .008, it marked an intraweek swing of 38% Once again, we’ll be looking for the establishment of higher highs and higher lows in forthcoming sessions.
SeaDrill Ltd. SDRL
Speaking of excellent bottom calls, we’ve had an even better one in SDRL. We highlighted this one in our report last Wednesday, after which time we observed the stock at a low of .22. Yesterday it attained a .62 high, representing an upswing of 182% over the span of just a few sessions. Once more, we’ll be looking out for a more sustained recovery
Anadarko Petroleum Corp. APC
We want to put a few sets of options contracts from the APC chain on watch today after noticing the annoucement of a massive share buyback program by the company to the tune of $2.5B, effectively reducing the number of outstanding shares by 10%
The stock has tested an area of recent resistance as a result in premarket trading. We’re going to radar the APC 09/29 $47-48.50 Calls, and watch them into next week.
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