Thursday, August 18, 2022

Pharmaceutical Company Almost Hits Triple Digits

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Good morning Wake-Up Watchlisters! While you're loading up your Keurig K-Duo Coffee Maker, you'll see stock futures traded slightly higher on Thursday. Markets are still fragile after the Federal Reserve signaled inflation-busting rate hikes will continue. Right now caution is top of mind and we'll know more after the Fed's symposium in Jackson Hole, Wyoming next week.

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Here's a look at the top-moving stocks this morning.

Plus Therapeutics (Nasdaq: PSTV)

Plus Therapeutics is up 94.19% premarket after the pharmaceutical company was awarded a $17.6 million Product Development Research Grant by the Cancer Prevention and Research Institute of Texas. The grant will fund the continued development of the Company's lead investigational targeted radiotherapeutic, Rhenium-186 NanoLiposome, for the treatment of patients with leptomenigeal metastases.

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Bluebird Bio (Nasdaq: BLUE)

Bluebird Bio is up 14.90% premarket after the FDA approved the company's gene therapy treatment for a rare blood disease. The cost of the treatment will be $2.8 million per patient, making it one of the nation's most expensive drugs.

 

Wolfspeed, Inc. (NYSE: WOLF)

Wolfspeed is up 21.83% premarket after the semiconductor manufacturer based in Durham announced it's planning a big expansion. CEO Gregg Lowe told analysts the company is 'finalizing plans for a new materials factory… and hopes to have more details to share very soon.'

 

Bed, Bath & Beyond (Nasdaq: BBBY)

Bed, Bath & Beyond is down 14.86% premarket after Gamestop Chairman Ryan Cohen announced he's selling his entire stake in the company, according to a regulatory filing. Cohen has an 11.8% stake and plans to sell his holding within 90 days.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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