Blue Water Vaccine [BWV] - Last Close: $2.85
Blue Water Vaccine is surging on news of a powerful new backer.
The cutting-edge vaccine stock is moving after a corporate disclosure revealed Cincinnati Cornerstone Investors (CCI) had taken a significant position in the micro-cap biotech firm.
A recently filed Form SC 13D revealed CCI holds 3.11 million shares of the company, amounting to a position worth roughly $8.86 million at Monday's closing prices.
Blue Water Vaccine also released another SEC filing revealing the company has put forward a preliminary prospectus for an offering of 8.9 million shares of common stock from selling shareholders.
BWV is trading actively with an 8.1% gain on the news.
My Take: BWV seems like it's gearing up for a big push. It's securing new backing and additional funding, perhaps for a major expansion effort. The chart shows strong support around the $2.35 mark, so there could be some solid upside in this potential swing trade.
IN8bio Inc [INAB] - Last Close: $1.98
IN8bio has officially landed on Wall Street's radar.
The micro-cap biotech firm is rallying today after analysts from HC Wainwright initiated coverage on the stock with a bullish rating.
HC Wainwright & Co. analyst Swayampakula Ramakanth initiated coverage on INAB with a "buy" rating and a price target of $14.
If the analyst's projection proves accurate, it would represent a roughly 606% upside from INAB's current price point.
The bullish note is lifting INAB to an 11.6% gain in today's premarket.
My Take: I wouldn't put too much stock in the $14 price target, but the fact that this stock is starting to get the attention of institutional analysts is a good sign. This could be a good growth play, but make sure you get in at a solid price point.
