Pre-Market Watch: Today's Risers Set Tone for Opening Session

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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 – Export Price Index (MoM) (Mar)

✓ 08:30 AM ET – Import Price Index (MoM) (Mar)

✓ 08:30 AM ET – Michigan 1-Year Inflation Expectations (Apr)

✓ 08:30 AM ET – Michigan 5-Year Inflation Expectations (Apr)

✓ 08:30 AM ET – Michigan Consumer Expectations (Apr)

PREMARKET SNAPSHOT 📈

Stock Futures point to a mixed market open with NASDAQ leading the way with a 1.65% gain.

S&P500

$5199.06

⬆️ 0.74% 

Dow

$38,459.08

⬇️ -0.01%

NASDAQ

$18307.982

⬆️ 1.64% 

SECTOR SNAPSHOT 

A mixed bag greets investors. Tech surges 2.36%, but Financials take a 0.58% dip. Consumer Discretionary shines with a 0.94% rise, while Utilities inch down 0.21%.

NAME

PRICE

%CHANGE

Consumer Discretionary

1,471.25

+0.94% 🟢

Consumer Staples

790.16

-0.28% 🔴

Energy

746.47

-0.20% 🔴

Financials

676.18

-0.58% 🔴

Health Care

1,643.79

-0.49% 🔴

Industrials

1,051.71

+0.11% 🟢

Materials

576.40

-0.10% 🔴

Real Estate

235.93

+0.03% 🟢

Information Technology

3,837.39

+2.36% 🟢

Communication Services

294.21

+1.14% 🟢

Utilities

328.50

-0.21% 🔴


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Unusual Volume

📈 Verb Technology Company Inc (VERB) jumped 7.97% to $0.20 on a whopping 84.03 million shares traded after it announced an upcoming special celebratory event in collaboration with TikTok Shop that promises to bring together the Who’s Who of livestream shopping at MARKET.live’s Studios in Los Alamitos.

📈 Investors went wild, sending Rallybio Corp (RLYB) stock soaring 82.82% to $2.98 on a massive volume of 79.62 million shares after the company announced 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).

📈 Abnormal activity shook Trio Petroleum Corp. (TPET), pushing it up 26.08% to $0.23 on a whopping 66.37 million shares traded. The company provided operational update for Monterey County Oil Producing Assets.

📈 Candel Therapeutics Inc (CADL) stock recently closed 42.75% upper at $7.28 on substantial volume of 63.89 million shares. This unusual activity came after the company received FDA orphan drug designation for CAN-2409 for the treatment of Pancreatic Cancer.

📈 Akanda Corp (AKAN) increase by 26.25% in a single trading session, with abnormally high trading volume of 48.76 million shares after announcing plan to integrate technology solutions to capture UK market.


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Premarket Movers

PaxMedica, Inc. (PXMD) experiences a substantial 94.53% surge in pre-market trading after announcing the completed execution of its three pivotal registration/validation batches of PAX-101, an IV formulation of suramin.

NextPlat Corp (NXPL) sees a significant 73.50% increase, reaching a pre-market price of $2.62 after releasing the financial results for the fiscal year-ended December 31, 2023.

OncoCyte Corporation (OCX) demonstrates a noteworthy 10.00% surge, with a pre-market price of $3.30 following the reports of full year 2023 financial results.

Pre Market Gainers

Pre Market Change

Pre Market Volume

PXMD

+94.53%

4.00M

ZPTA

+30.00%

3.71M

NXPL

+73.50%

2.90M

BENF

+26.05%

2.47M

ALLR

+44.97%

1.60M

OCX

+10.00%

745.86K

FFIE

+3.01%

385.12K

CPNG

+4.93%

258.10K

NRXP

+5.64%

213.82K

JZXN

+3.99%

133.53K


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Important FDA 

Recently Announced

Upernus Pharmaceuticals, Inc. (SUPN) faces a hurdle in their Parkinson's drug development. The FDA issued a Complete Response Letter for SPN-830 on April 8, 2024, demanding further evaluation before potential approval. SPN-830 aimed to provide continuous treatment for Parkinson's motor fluctuations.

AbbVie (ABBV) celebrates a milestone with their ovarian cancer drug ELAHERE. Initially granted accelerated approval for a specific ovarian cancer type, ELAHERE received full FDA approval on March 22, 2024. This marks its proven effectiveness in combating this challenging condition.

Bristol-Myers Squibb Co. (BMY) introduces a new weapon 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 fresh hope for patients confronting this daunting diagnosis.

Upcoming Announcements

Three pivotal FDA decisions loom for biopharmaceutical firms in April 2024, potentially reshaping treatment landscapes for diverse patient cohorts.

ImmunityBio, Inc. (IBRX) awaits a crucial verdict on April 23rd concerning N-803 plus BCG for high-risk non-muscle-invasive bladder cancer, marking a potential breakthrough in bladder cancer management.

Aquestive Therapeutics Inc. (AQST) anticipates a milestone FDA decision on April 28th regarding Libervant (diazepam) Buccal Film for addressing seizure clusters in children aged two to five. This holds promise for revolutionizing pediatric epilepsy care with a novel treatment option.

XOMA Corporation (XOMA) braces for a significant FDA decision on April 30th regarding tovorafenib for treating relapsed or progressive pediatric low-grade glioma (pLGG). This decision carries weight in pediatric oncology, offering a ray of hope for children grappling with 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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