Posts Tagged ‘IMGN’

ImmunoGen Puts Active

IMGN – ImmunoGen, Inc. – The biotechnology company’s shares dropped 22% to $12.88 today after the developer of anticancer therapeutics announced it will discontinue a Phase II study of IMGN901, its lead drug candidate. The stock was cut to ‘Sell’ from ‘Hold’ at Stifel Nicolaus today.

Options traders positioning for shares in the name to extend losses in the near term appear to be buying November expiry put options on the stock. The Nov $13 strike puts are the most traded contracts on IMGN thus far in the session, with upwards of 1,000 puts in play against open interest of 33 contracts. Time and sales data suggests most of the volume was purchased during morning trading for an average premium of $0.37 each. Put buyers may profit at expiration this month if shares in ImmunoGen drop 4.5% from the current price of $13.22 to settle below the average breakeven point at $12.63. Shares last traded below $12.63 in December of 2012.

DDD – 3D Systems Corporation – Shares in the maker of 3D printers are up sharply on Tuesday, rising as much as 6.7% to a record high of $70.49 during the first half of the trading session. The sharp move in the price of the underlying spurred activity in the Nov 08 ’13 expiry call options, perhaps has some traders position for DDD shares to continue pushing higher this week.

The Nov 08 ’13 $70 and $75 strike weekly calls attracted substantial volume, with more than 2,000 contracts having changed hands at each strike as of the time of this writing. It looks like traders purchased most of the $70 calls at an average premium of $0.96 each, and paid an average premium of $0.24 per contract for most of the $75 calls. Buyers of these out of the money weekly contracts stand ready to profit at expiration in the event that shares in 3D Systems rally another 3.2% and 6.7% over the current price of $68.75 to top average breakeven points at $70.96 and $75.24, respectively.

Overall options volume on DDD is approaching 35,000 contracts just before 11:30 a.m. in New York trading, which is approximately 145% of the stock’s average daily options volume of around 24,000 contracts. Trading in 3D calls is outpacing that of puts, with the call/put ratio hovering near 2.8 as of the time of this writing. 


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Another Immune Company Play – Immunomedics

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Cancer is a class of diseases in which a group of cells display uncontrolled growth.  Some cancers invade or intrude upon adjacent tissues, then destroy that tissue/organ, and then spread (metastasize) to other locations in the body via lymph or blood.  These three malignant properties of cancers differentiate them from benign tumors, which do not invade or metastasize.  All of these diseases suggest that there will be a need for personalized therapy, as even within a specific type of cancer, there is wide heterogeneity in clinicopathological features.  For instance, leukemia, lymphoma, myeloma, etc are all lymphoproliferative disorders (where lymphocytes are produced in excess) affect one or more different biological pathways that play a role in lymphomagenesis (the development of B cells and T cells).  Over the past year, on focal point of our  investment virtual portfolio has been smaller companies researching and developing treatments for cancer (CRIS, ARIA, ARRY, SPPI, IMGN).  The next small company with some very interesting prospects in the pipeline is Immunomedics.

Figure 1.  Cancer Prevalence.

In our recent past, monoclonal antibodies (mAbs) were discussed in the context of a mid-tiered pharma, BIIB and smaller biotech, Immunogen (IMGN).  These companies will not be rehashed, but to re-emphasize that mAb and biologics are one of the hottest areas in in biotech.  Small molecules have are not the favorites for now (especially in cancer), and that is most likely due to early stage trials, lack of efficacy, or more likely – patent protection, as biologics/mAbs are harder to show equivolance….and thus have the potential to generate cash for years to come. 

(IMMU) based in New Jersey, is primarily focused on the development of mAb-based products for the targeted treatment of cancer, autoimmune and other diseases.  The company has a number of advanced mAbs that can be used either alone in unlabeled or “naked” form, or conjugated with radioactive isotopes, chemotherapeutics or toxins, in each case to create highly targeted agents (think Inmunogen, but different 'targets').  The company has built a pipeline of therapeutic product candidates that utilize several different mechanisms of action discussed below.  The company also owns a stake in IBC Pharmaceuticals, Inc., which is developing a novel Dock-and-Lock (DNL) methodology. …
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Zero Hedge

S&P Faces $2 Billion "Gamma Gravity" Trap At 3,650

Courtesy of ZeroHedge View original post here.

With emini futures trading just shy of all time highs, and the cash S&P hitting record highs, the question is will momentum accelerate to the upside or will the infamous gamma gravity kick in? According to our friends at SpotGamma, along with the move higher in the S&P, gamma levels in the index have built to over $2bn notional (between both the SPX+SPY) "which typically indicates mean reverting market action in the context of upward – trending prices."

Additionally the climbing such "walls of gamma" also often leads to a reduction in volatility: according...



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ValueWalk

The Vaccine Rally Could Be Running Out Of Steam

By Gorilla Trades. Originally published at ValueWalk.

Commenting on today’s trading Gorilla Trades strategist Ken Berman said:

Q3 2020 hedge fund letters, conferences and more

The Vaccine Rally Is Fading Away

Despite today’s new all-time highs the late-day weakness among cyclicals could mean that the first leg of the vaccine rally could be running out of steam. While stocks started the session in a positive fashion, the leaders of the vaccine rally faded towards the end of the session in the face of the mostly positive news flow, and that warrants caution for bulls, at least from a short-term perspective....



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Phil's Favorites

Salesforce Confirms Deal To Buy Slack

Courtesy of ZeroHedge

It's official. After reportedly entering high-level, late-stage talks, Salesforce, one of the newest members of the Dow 30, has agreed to buy Slack, a former Silicon Valley "unicorn" that IPO'd last year.

Shares of the Slack have surged in after-hours trade on the news, as if the massive surge seen following the initial reports that the two companies were in talks wasn't enough.

Here are the juicy details: $27.7 billion in cash and stock, giving the corporate software giant a popular workplace-communications platform in one of the biggest technology deals...



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Biotech/COVID-19

Rapid COVID-19 tests can be useful - but there are far too few to put a dent in the pandemic

 

Rapid COVID-19 tests can be useful – but there are far too few to put a dent in the pandemic

Rapid tests for COVID-19 are easy to administer and give fast results. AP Photo/Julio Cortez, File

Courtesy of Bonnie LaFleur, University of Arizona and Katherine Ellingson, University of Ari...



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Digital Currencies

Five Reasons Why Bitcoin is Going Up

 

Five Reasons Why Bitcoin is Going Up

Courtesy of 

Call it the “Respectability Rally”…

A few reasons for Bitcoin’s return to the record highs. It’s about $18,500 as of this writing, matching the previous highs from 2017’s original explosion.

Reason one: It’s going up because it’s going up. Don’t scoff, this is the reason most things in the markets happen and then the explanations are called for afterwards. I’m in financial television, I have literally watched this process occur in real-time. The more something moves in a given direction, the more peop...



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Kimble Charting Solutions

Will Silver Price Reversal Bring Another Historic Decline?

Courtesy of Chris Kimble

Precious metals caught lightning in a bottle for the first 7 months of the year, with Gold notching new all-time highs and Silver making to multi-year highs in August. But both have reversed lower since peaking in August and investors should pay attention.

It might be nothing… or it might be something! Especially for Silver, which didn’t follow Gold’s lead in making all-time highs.

Today’s chart is a long-term “monthly” chart of Silver. As you can see, it was hi-yo Silver for the first 7 months ...



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Politics

Mythmakers: The Men Who Created Donald J. Trump

 

Mythmakers: The Men Who Created Donald J. Trump

Mark Burnett, Jeff Zucker, and the Trustwashing of a Fake President

Courtesy of Greg Olear, Prevail, author of Dirty Rubles: An Introduction to Trump/Russia 

...

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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Friday, 12 June 2020, 08:06:43 PM

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Comment: Interesting (2)



Date Found: Saturday, 13 June 2020, 12:27:02 AM

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Comment: Recession Forecasts Time Frame



Date Found: Monday, 15 June 2020, 11:07:52 PM

...

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Mapping The Market

COVID-19 Forces More Than Half of Asset Management Firms to Accelerate Adoption of Digital Marketing Technology

By Jacob Wolinsky. Originally published at ValueWalk.

There is no doubt that the use of technology to support client engagement initiatives brings both opportunities and threats but this has been brought into sharp focus this year with the COVID-19 pandemic.

The crisis has brought to the fore the need for firms to enable flexibility in client engagement – the expectation that providers will communicate to clients on their terms, at their speed and frequency and on their preferred channels, is now a given. This is even more critical when clients are experiencing unparalleled anxiety from both market conditions and their own personal circumstances.

...

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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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Feb. 26, 1pm EST

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Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

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