My Take: Moderna is a huge stock, so it takes a lot of good news to move the needle. However, this collaboration sounds promising. Plus, this is a quality company with a dirt-cheap P/E of 5.97.
ACM Research [ACMR] - Last Close: $8.72
ACM Research is gaining in the wake of a Monday morning announcement.
The microchip manufacturer supplier introduced its Ultra PmaxTM Plasma-Enhanced Chemical Vapor Deposition (PECVD) tool yesterday morning.
The announcement marks the firm's entrance into a new product category, and ACM said it expects to ship its first PECVD tool to a customer in China within the next few weeks.
In a press release, CEO Jian Wang said the company estimates the launch will double its total addressable market.
ACMR is up 26.3% in the premarket.
My Take: ACMR traded fairly steady on Monday, despite this early morning announcement. However, shares rocketed higher at the closing bell, and now it's gaining in the premarket. Be careful here because we could see a sharp pullback at the opening bell.
Netcapital [NCPL] - Last Close: $1.39
Strong earnings results are helping Netcapital breakout this morning.
The FinTech stock reported Q2 results for its fiscal 2023 this morning, and its performance was stronger than expected.
Netcapital generated earnings of $0.04 per share on $1.78 million in sales.
Sales grew at a 48% rate, year over year, and Netcapital reported positive operating income compared to the year-earlier quarter.
NCPL is up 126.6% on news of the strong sales growth.
My Take: This is a very small stock with a market cap of only $6.42 million. Short figures weren't immediately available, but this move is unusually aggressive. Targeted market manipulation could be behind this rally, so be careful.
Magenta Therapeutics [MGTA] - Last Close: $1.15
Magenta Therapeutics is pushing higher after a clinical update.
The clinical-stage biotech firm reported data from its key blood cancer candidate at the American Society Of Hematology Annual Meeting on Monday.
Preliminary results from an ongoing Phase 1/2 trial of the drug candidate, MGTA-117, showed notable clinical activity with no dose-limiting toxicities,
Magenta also said it will release preliminary data from its MGTA-145 Sickle Cell trial in collaboration with Bluebird Bio [BLUE] later this month.
The companies expect to have more extensive trial data from MGTA-145 to come available in the first half of 2023.
MGTA is up 40.0% on active premarket trading volume in the wake of the press release.
My Take: This press release tells us MGTA is staring down another potential catalyst, with a preliminary data release from MGTA-145 expected later in the month. If the early trial data is promising, MGTA could see another big rally.
