Fortress Biotech files $125M mixed securities shelf 17:0607/2307/23/21
Fly Intel: Top five analyst initiations » 10:0007/2307/23/21
THC, PLUG, OGN, MP, PLL
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tenet Healthcare (THC) reinstated with a Buy at Citi. 2. Plug Power (PLUG) initiated with a Buy at Citi. 3. Organon (OGN) initiated with a Buy, $35 target at Citi. 4. MP Materials (MP) initiated with a Buy at DA Davidson. 5. Piedmont Lithium (PLL) initiated with a Buy at DA Davidson. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Plug Power initiated with a Buy at Citi » 08:1807/2307/23/21
Citi analyst P.J. Juvekar…
Citi analyst P.J. Juvekar initiated coverage of Plug Power with a Buy rating and $35 price target. Plug Power is "leading the way" in the nascent hydrogen economy, which is "at the cusp of a breakout," Juvekar tells investors. Plug has "positioned itself at the center of the hydrogen economy" with its unique vertical integration from making electrolyzers to hydrogen production, delivery and building fuel cell modules, Juvekar said.
Argenx initiated with a Hold at Deutsche Bank » 06:5407/2307/23/21
Deutsche Bank analyst…
Deutsche Bank analyst Emmanuel Papadakis initiated coverage of Argenx with a Hold rating and EUR 250 price target. The analyst sees a full valuation at current share levels and believes the "likely cadence of near-term events looks finely balanced from a risk-reward perspective."
Clene files to sell 2.1M shares of common stock for holders 17:0407/2207/22/21
Seres trial news 'disappointing,' but an isolated story, says JMP » 15:2307/2207/22/21
MCRB, EVLO, KLDO
JMP Securities analyst…
JMP Securities analyst Gobind Singh reiterated a Market Perform rating on Seres Therapeutics (MCRB) after the company reported that the Phase 2 ECO-RESET trial did not meet its primary endpoint of clinical remission at week 10. Singh said that while the news is "disappointing" and "an obvious setback" for SER-287, he views the result as an isolated story with a specific microbiome-based therapeutic that does not have any read-through to other MBT companies, including Evelo Biosciences (EVLO) and Kaleido Biosciences (KLDO). In addition, Singh noted he would be a buyer on both Evelo and Kaleido, both Outperform-rated, as the recent selloff is unwarranted, making the risk/reward even more attractive.
Roth Capital sustainability analyst holds an analyst/industry conference call » 10:2507/2207/22/21
ENPH, GNRC, SEDG, NOVA, RUN, SPWR, SUNW
Managing Director &…
Managing Director & Sustainability Analyst Shen, along with the Founder of Ohm Analytics, Chris Collins, discuss the forecasts for 2Q and 3Q U.S. residential solar installations, including a preview of forecasts by inverter type on an Analyst/Industry conference call to be held on July 22 at 11 am. Webcast Link
Largest borrow rate increases among liquid names » 08:4507/2207/22/21
GOEV, LIT, LABD, SOLO, OWL, GT, XELA, CL, VLDR, FTCV
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Canoo (GOEV) 22.79% +3.48, Global X Lithium (LIT) 1.21% +0.46, Direxion S&P Biotech Bear 3X (LABD) 12.08% +0.42, Electrameccanica Vehicles Corp (SOLO) 5.36% +0.35, Blue Owl Capital (OWL) 89.24% +0.34, Goodyear Tire (GT) 0.59% +0.34, (XELA) 19.74% +0.29, Colgate Palmolive (CL) 0.67% +0.28, Velodyne Lidar (VLDR) 8.25% +0.16, and FinTech Acquisition Corp V (FTCV) 20.91% +0.14.
Tortoise Acquisition Corp. II partners with StreetLight for EV charging solution » 08:4007/2207/22/21
Tortoise Acquisition Corp. II's combination agreement partner Volta Industries, a provider of commerce-centric electric vehicle - EV - charging networks, announced a strategic partnership with StreetLight Data, a provider of big data analytics for mobility, to use their combined analytics for the intelligent deployment of EV infrastructure. The partnership is intended to spur public sector agencies, utilities, transportation planners and engineering firms, among others, to accelerate EV adoption through Volta's PredictEV SaaS solution and StreetLight's mobility data. Volta Charging and Tortoise Acquisition Corp. II entered into a business combination agreement in February subject to customary closing conditions, under which the combined entity will be named Volta and remain on the NYSE under the new ticker symbol "VLTA". PredictEV is a machine-learning tool that helps utilities, municipalities and companies predict electric vehicle adoption and demand for EV charging. Through this partnership, Volta Charging will provide its PredictEV tool to StreetLight customers. StreetLight will also provide Volta Charging with opportunities to expand its market footprint across the U.S. through increased collaboration with transportation planners, engineering firms and public agencies focused on transportation electrification.
Catalyst Biosciences announce first patient screened for CFI deficiency in study » 08:2107/2207/22/21
Catalyst Biosciences announced the screening of the first patient in its CFI-deficiency study in the CB 4332 program, its wholly-owned, first-in-class, enhanced Complement Factor I, intended for prophylactic subcutaneous administration in individuals with CFI deficiency. "The findings from the CFI deficiency screening and natural history of disease studies will be instrumental in identifying patients for the Phase 1/2 trial of CB 4332, planned for mid-year 2022," said Nassim Usman, Ph.D., president and chief executive officer of Catalyst. "Following the disease manifestations and biomarkers of this complement disorder will be important in unlocking the full therapeutic potential of CB 4332." The ConFIrm screening study will measure CFI levels and activity in patients who have diseases related to a CFI deficiency and who may potentially benefit from CB 4332 treatment. The ConFIdence natural history of disease study will follow these CFI-deficient subjects, who often present with repetitive bacterial infections, immune-related diseases, and/or glomerulopathies, for clinical biomarkers and safety of current treatments. The findings from these studies will identify opportunities to potentially develop CB 4332 for treatment in multiple indications.