Pre-Market Pulse: Today's Gainers Set the Stage for Opening Bell

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Hello Part-time Trader…👋

Premium Stock Alerts is here with your pre-market cheat sheet. In today's issue, we delve into:

  • Fed's Latest Announcements: Understand the Federal Reserve's recent decisions and economic outlook, and how they might influence the markets.

  • Volume Anomalies: Identify stocks witnessing unusual trading volumes, pointing to potential opportunities or risks.

  • Top Pre-Market Movers: Identify early winners poised for a strong market opening.

  • Market Indices & Sector Overview: Get a snapshot of key market indices and sector performances to gauge the day's potential trends.

  • FDA Approvals & Upcoming Decisions: Keep an eye on the latest FDA approvals and crucial upcoming decisions affecting biotech and pharmaceutical stocks.

Now, let's dive into today's edition for a closer look at the insights and analysis that will shape your trading decisions.


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Happening Today

✓ 08:30 AM ET – Initial Jobless Claims

✓ 08:30 AM ET – PPI (MoM) (Mar)

✓ 08:30 AM ET – Continuing Jobless Claims

✓ 08:30 AM ET – Core PPI (MoM) (Mar)

PREMARKET SNAPSHOT 📈

All three major US stock futures indexes are down today, with the Dow Jones leading the decline at over 1%.

S&P500

$5160.64

⬇️ -0.94% 

Dow

$38461.51

⬇️ -1.08%

NASDAQ

$18011.654

⬇️ -0.87%

SECTOR SNAPSHOT 

Most sectors are in the red today, with Real Estate leading the decline at -4.10%.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,457.61

-1.19% 🔴

Consumer Staples

792.37

-0.34% 🔴

Energy

747.94

+0.38% 🟢

Financials

680.14

-1.50% 🔴

Health Care

1,651.90

-1.15% 🔴

Industrials

1,050.60

-0.84% 🔴

Materials

577.00

-1.55% 🔴

Real Estate

235.86

-4.10% 🔴

Information Technology

3,748.77

-0.74% 🔴

Communication Services

290.89

-0.22% 🔴

Utilities

329.18

-1.73% 🔴


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Unusual Volume

📈 Marin Software Inc (MRIN) jumped 126.30% to $0.65 on a whopping 229.41 million shares traded after announcing upgrades to its integration with Microsoft Advertising.

📈 Investors went wild, sending Jaguar Health Inc (JAGX) stock soaring 28.89% to $0.12 on a massive volume of 172.37 million shares after the company reported approval of all proposals at April 2024 special meeting of stockholders..

📈 Abnormal activity shook Selina Hospitality PLC. (SLNA), pushing it down -2.93% to $0.08 on a whopping 127.78 million shares traded.

📈 Adial Pharmaceuticals Inc (ADIL) stock recently closed 106.19% upper at $2.33 on substantial volume of 105.14 million shares. This unusual activity came after the company announced the publication of a peer-reviewed article highlighting the promising clinical results, strong safety profile and high compliance among patients administered AD04.

📈 Blue Star Foods Corp (BSFC) decrease by -4.18% in a single trading session, with abnormally high trading volume of 73.63 million shares following the announcement of successful execution of a supply agreement to provide manufacturing of Eagle Rising specified innovative food solutions for the U.S. Military under the support of our recently established Master Service Agreement (MSA).


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Premarket Movers

Rallybio Corporation (RLYB) experiences a substantial 93.25% surge in pre-market trading after announcing a collaboration with Johnson & Johnson1 to support the development of complementary therapeutic approaches aimed at reducing the risk of fetal and neonatal alloimmune thrombocytopenia (FNAIT).

Trio Petroleum Corp. (TPET) sees a significant 34.75% increase, reaching a pre-market price of $0.24 after the company provided an update on its oil producing assets in Monterey County, California, including at the Presidents Field of the South Salinas Project and at the McCool Ranch Field.

Rent the Runway, Inc. (RENT) demonstrates a noteworthy 30.41% surge, with a pre-market price of $9.65 after releasing financial results for the fiscal quarter and fiscal year 2023 ended January 31, 2024.

Pre Market Gainers

Pre Market Change

Pre Market Volume

RLYB

+93.25%

9.11M

TPET

+34.75%

6.86M

VERB

+13.79%

5.14M

ELYM

+38.39%

1.45M

SPRC

+2.98%

480.27K

LPCN

+35.33%

259.23K

RENT

+30.41%

139.84K

ALPN

+36.56%

118.73K

IZM

+5.10%

110.18K

EZGO

+2.31%

108.92K


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Important FDA 

Recently Announced

A drug developed by Upernus Pharmaceuticals, Inc. (SUPN) for Parkinson's disease has received a setback. The FDA issued a Complete Response Letter for SPN-830 on April 8, 2024, requiring further evaluation before it can be approved. SPN-830 was designed to continuously treat motor fluctuations in Parkinson's patients.

There is positive news for AbbVie (ABBV) and their ovarian cancer drug ELAHERE. Initially granted accelerated approval for a specific type of ovarian cancer, ELAHERE received full FDA approval on March 22, 2024. This signifies the drug's effectiveness in treating this challenging condition.

Bristol-Myers Squibb Co. (BMY) has a new weapon in the fight against urothelial carcinoma. On March 7, 2024, the FDA approved Opdivo, in combination with chemotherapy, as a first-line treatment for adults with inoperable or advanced urothelial carcinoma. This offers new hope for patients facing this difficult diagnosis.

Upcoming Announcements

Three key FDA decisions are on the horizon for biopharmaceutical companies in April 2024, potentially impacting treatment options for various patient populations.

First, ImmunityBio, Inc. (IBRX) anticipates a critical decision on April 23rd regarding N-803 plus BCG for high-risk non-muscle-invasive bladder cancer.

Next, Aquestive Therapeutics Inc. (AQST) awaits a pivotal FDA decision on April 28th concerning Libervant (diazepam) Buccal Film for treating seizure clusters in children aged two to five. This decision could significantly impact pediatric epilepsy management by offering a potentially novel treatment for a vulnerable population.

Finally, XOMA Corporation (XOMA) has a crucial FDA decision scheduled for April 30th regarding tovorafenib for treating relapsed or progressive pediatric low-grade glioma (pLGG). This announcement holds significance in pediatric oncology as it has the potential to introduce a much-needed therapeutic option for children battling this challenging diagnosis.

Happy investing,

Maeve Grace
Editor In Cheif
Premium Trade Alerts

Important: This newsletter does not provide investment advice. The stocks mentioned should not be taken as recommendations. Your investments are solely your decisions.

Disclosure: I hold no positions in any companies mentioned, either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.

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