Tuesday, December 13, 2022

FDA Approval Spikes This Biotech Stock

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see stock futures rose on Tuesday. Right now expectations are the latest inflation report will show the lowest figure this year, meaning a less hawkish stance on interest rates from the Federal Reserve is more possible.

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

Mirati Therapeutics (Nasdaq: MRTX)

Mirati Therapeutics is up 14.95% premarket after winning FDA approval for Amgen-rivaling cancer drug Krazati. It's the second drug to hit the market that blocks a specific mutation in a protein called KRAS. The FDA granted Krazati accelerated approval, meaning it can now undergo further testing. The approval came after a midstage study showed 43% of patients responded to treatment.

FDA Approvals can lead to big gains for biotech stocks – and there's one company in the medical sector that has also received FDA approval. Right now its device is being used at the top 100 hospitals and it's trading at just under $3.

Our friend Alexander Green talks all about it here.

 

Netcapital Inc. (Nasdaq: NCPL)

Netcapital is up 47.29% premarket after announcing 71% revenue growth for the first half of fiscal 2023. The entrepreneur mentorship group posted $3.1 million in overall revenue, and also paid down $1 million in debt. CEO Cecilia Lenk cited 'strong business trends' as the primary fuel for its growth.

 

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New Fortress Energy (Nasdaq: NFE)

New Fortress Energy is up 6.08% premarket after the company announced its Board of Directors approved an update to NFE's dividend policy following a comprehensive evaluation. The plan will return significant capital to its shareholders. NFE is targeting an annual cash dividend equal to approximately 40% of its annual Adjusted EBITDA.

Traditional energy stocks like oil and gas saw big gains in 2022, but the ongoing conflict between Ukraine and Russia has spurred new predictions. A recent mistake by Russia President Vladimir Putin could put Americans in a position to make a great deal of money on ONE stock. In fact, Wall Street predicts it will rise from $30 to $280 in the next 18 months.

Click here to discover this energy stock.

 

Trimble Inc. (Nasdaq: TRMB)

Trimble is down 6.33% premarket after the software company agreed to acquire German logistics software firm Transporeon. The all-cash deal is valued at $1.98 billion, with Trimble's goal being to accelerate and scale growth. Transporeon has a strong financial profile with recurring revenue representing over 90% of total revenue. It will be immediately accretive to Trimble's revenue growth and margin profile.

 

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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