My Take: BBY has been trending higher since the end of Oct, but it's still facing stiff resistance at the $80 mark. It hasn't broken through those levels yet, but today's rally could put it on the right path.
OncoSec Medical Inc [ONCS] - Last Close: $4.85
An upbeat analyst note is giving OncoSec Medical a boost.
Yesterday afternoon, Refinitive/Verus resumed coverage on OncoSec Medical with a "buy" recommendation.
A price target was not included with the note, but the bullish rating seems to have sparked a move in share prices.
ONCS gained 42.2% on Monday, and it's up another 29.9% in today's premarket on high volume.
My Take: The analyst note may have been the catalyst for ONCS's rally, but there could be more than meets the eye here. Traders may be targeting the stock with a Reddit-style short-squeeze blitz, although the stock only has a short rate of 7.7%.
Monopar Therapeutics Inc [MNPR] - Last Close: $2.52
Monopar Therapeutics is also moving higher on an analyst upgrade.
An analyst at Refinitiv/Verus upgraded their rating on MNPR from 'hold' to 'buy' on Monday afternoon.
The stock has been on a wild ride since the start of November, but it took a 20% hit last week after announcing disappointing drug data.
The analyst upgrade seems to have given shareholders a brief reprieve. Shares of MNPR are up 21.0%.
My Take: Not sure what is going on with this move. It's possible that the stock's recent downtrend was overextended and this is a correction. Despite the stock's wild price action, it's current up-trend is still intact.
ObsEva Inc [OBSV] - Last Close: $0.1657
Shares of ObsEva are rallying on news of a major windfall.
The biopharma firm announced this morning that it has sold an Ebopiprant royalty and milestone licenses to XOMA for up to $113 million.
ObsEva will receive $15 million upfront, and it's eligible for another $98 million in milestone payments under the terms of the deal.
The sale will provide ObsEva with enough case to settle its over-indebted position and to withdraw its pending Swiss moratorium proceedings.
ObsEva is also expected to regain its compliance with Nasdaq stockholdersâ equity requirement for continued public listing.
OBSV is up 55.4% on the news, and it's this morning's most active premarket stock.
My Take: ObsEva was having cash problems, and this deal came just in the nick of time. However, it's not entirely clear where share prices go from here, although today's rally is on course to put it past resistance at $0.2250.
