Marcus Anderson

Marc has a degree in economics and a MSc. in Finance. Marc worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

CUI Global Inc. (NASDAQ:CUI) Drops After Pricing Offering

CUI Global Inc. (NASDAQ:CUI)

CUI Global Inc. (NASDAQ:CUI) traded lower after announcing the pricing of a previously announced underwritten public offering of 6.4 million shares at a price of $2.80 per share. Shares of the company fell 2.35% in Thursday’s trading session to end the day at $2.91 a share.

CUI Global Inc. (NASDAQ:CUI)

Public Offering

In addition to the pricing of 6.4 million shares, the diversified holding company has also granted underwriters a 45-day option for the purchase of an additional 964,285 shares. CUI Global expects gross proceeds of $18 million from the offering assuming underwriters don’t exercise the over-allotment option.

CUI Global Inc. (NASDAQ:CUI) plans to use net proceeds from the offering for general corporate purposes including operating expenses as well as working capital. The company also plans to use part of the funds to promote its commercially available products and advance the development of product candidates.

CUI Global Inc. (NASDAQ:CUI) free fall appears to be gaining momentum as the stock has recorded a new 52-week low. The stock has underperformed the overall industry having shed more than 50% in market value since the start of the year. The stock is currently trading in a strong downtrend after dropping to multi-year lows.

Italian Operations

Separately, distribution of CUI Global Inc. (NASDAQ:CUI)’s GasPT solution will resume in 2018 after the Italian Energy Authority resolved its tariff dispute with Socrate SpA, the national gas transmission company. The company’s wholly owned subsidiary based in the, U.K Orbital Gas Systems, had been awarded a sole source contract last year by Socrate SpA.

The contract is for the delivery of a minimum of 3, 300 GasPT units and a maximum of 7,000, for a period of between 3 and 5 years. The company subsidiary had initially received an order of 400 units from its Italian distributor.

“We look forward to resuming deliveries in early-2018; to continuing our partnership with Socrate on our largest contract to date; and to redefining the industry’s standards for fiscal monitoring of natural gas quality with our GasPT technology,” said CEO William Clough.

In addition, CUI Global Inc. (NASDAQ:CUI) is finalizing financial results for the three months ended September 30, 2017. The company expects revenues of between $21 and $22 million compared to revenues of $23.3 million reported last year. EBITDA earnings on the other end should range between $1.1 million and $1.4 million compared to $131,000 reported last year.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Riot Blockchain Inc. (NASDAQ:BIOP)

Riot Blockchain Inc. (NASDAQ:BIOP)

Riot Blockchain Inc. (NASDAQ:BIOP)

Riot Blockchain Inc. (NASDAQ:BIOP) traded higher after announcing it had entered into a definitive agreement for the acquisition of a 52% stake in Toronto-based Tess Inc. The stock was up by 7.7% in Tuesday’s trading session to end the day at $8.13 a share.

Riot Blockchain Inc. (NASDAQ:BIOP)

BIOP Stock Performance

The acquisition reflects a change of focus which has seen Riot Blockchain tweak its operations to focus on the blockchain ecosystem. Given the hype around Bitcoin, the change has helped strengthen investor confidence on the stock. The company joins the likes of MGT Capital Investments Inc. (OTCMKTS:MGTI) and Overstock.com, Inc. (NASDAQ:OSTK) that have seen their share price explode.

Over the past one month, Riot Blockchain Inc. (NASDAQ:BIOP) has gained more than 60% in market value. The stock is also up by more than 100% for the year. Renewed investor interest in the stock does not come as a surprise given that bitcoin has also touched all-time highs in the market over the same period.

Tess’ acquisition will expand Riot Blockchain operations into the payment services business built around blockchain technology. The company is currently developing a guaranteed payment system using blockchain-based escrow service for telecom carriers.

“Our affiliation with Riot Blockchain will give us better access to the capital markets in the United States, as well as the availability of additional senior management resources, all in aid of our ambitious business plans around blockchain,” said TESS CEO, Jeff Mason.

Coinsquare Investment

The acquisition of a controlling stake in TESS builds on a strategic investment on Coinsquare, one of Canada’s leading exchanges for digital currencies. Riot Blockchain has reportedly paid a few million dollars for a 12% stake in the company. The investment underscores how committed the company is, in pursuing growth opportunities around blockchain technologies.

Riot Blockchain has already started to divest a number of intellectual Properties tied to the diagnostics industry, as it looks for additional capital to pursue opportunities in the digital currencies business.

Separately, Riot Blockchain Inc. (NASDAQ:BIOP) formerly Bioptix Inc. announced a special dividend of $1 per common share. According to the Chief Executive Officer Michael Beeghley, the dividend underscores the company’s commitment to returning value to shareholders.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $BIOP and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

My Size Inc. (NASDAQ:MYSZ)

My Size Inc. (NASDAQ:MYSZ) Signs ‘Emme’ And Susan Moses

My Size Inc. (NASDAQ:MYSZ)

My Size Inc. (NASDAQ:MYSZ)

Shares of My Size Inc. (NASDAQ:MYSZ) gained 6.22% after the developer of proprietary measurement technologies confirmed the signing of Supermodel Emme and celebrity stylist Susan Moses as brand ambassadors. The two will represent the company as it moves to pursue growth opportunities in the multi-billion, plus-size apparel market.

My Size has set it eyes on the plus-sized women market given that apparel sales in the segment rose 6% last year to highs of $21.4 billion. Emme should help strengthen the company’s prospects in the sector given that in addition to being a TV personality, she is the world’s first curvy supermodel.

Susan Moses, on the other hand, is a renowned retail ambassador and blogger whose signature look has been showcased in multiple red carpets

“We are thrilled to welcome Emme and Susan to the My Size family. We believe that the vast experience, high acclaimed expertise, respected industry insight and overall impeccable sense of style of both ladies is going to lead to amazing opportunities for My Size in the plus size market,” said Ronen Luzon, CEO of My Size, and Inc.

My Size Inc. Patent Award

Separately, My Size Inc. (NASDAQ:MYSZ) has been awarded its first patent, dubbed Measurement of a Body Part smartphone application. Designed for the online apparel market, the application will enable shoppers to choose the correct size garment on a retailer’s website, using measurements taken by their smartphones.

The issuance of the patent should strengthen My Size Inc. (NASDAQ:MYSZ) position as a measurement technology leader. It should also bolster the company’s position in the growing e-commerce apparel market.

“We have many other patents pending worldwide for our Measurement of a Body Part smartphone application as well as other measurement applications in our long pipeline of products which we have developed for the e-commerce and m-commerce apparel,” said Chief Product Officer, Billy Pardo.

My Size Inc. (NASDAQ:MYSZ) proprietary Size IT smart measuring tape is currently available and provides accurate measurement capabilities on any iOS mobile application. The company is also working to make the application available on Android devices.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $MYSZ and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Beleaguered Rennova Health Inc (NASDAQ:RNVA) Can’t Hold Morning Gains

Rennova Health Inc (NASDAQ:RNVA)

Rennova Health Inc (NASDAQ:RNVA) has lost close to 98% of its value over the past year. That is a worrisome figure made worse by the fact that the S&P Healthcare ETF, XLV, is up almost 20% over the same period. However today RNVA stock attempted a rebound on heavy volumes.

Shares of Rennova Health Inc (NASDAQ:RNVA) closed Monday at $1.43, then opened today at $1.45 before rocketing in morning trading to a high of $1.78. As of this writing (12:50 AM EST), RNVA stock is trading below yesterday’s close. Volumes have been curiously heavy for a stock that has a 30-day, daily average volume of just 82,620. So far, over 1.55 million shares have traded.

Rennova Health Inc (NASDAQ:RNVA)

Rennova Health Inc (NASDAQ:RNVA) is based in West Palm Beach, FL. The company provides diagnostics and software solutions to the healthcare industry such as diagnostic laboratory testing and analytics for precision medicine, specialized and streamlined electronic health records. Rennova Health also supplies integrated medical billing solutions. The company also provides loans to healthcare providers that are collateralized by their accounts receivable.

RNVA Stock Performance

When adjusting for dilution, RNVA shares have a 52-week high of $103.50 – that is not a misprint. The 52-week low is $1.38 – just pennies above current trading levels. The Relative Strength Index stands at 15.25. Many traders believe that a figure below 20 represents a definite “oversold” condition which may explain the mornings heavy buying. However, traders were quick to take profit.

In 2015 Rennova Health Inc (NASDAQ:RNVA) had sales of $18.4 million but that number dropped to just $5.2 million for 2016. Unfortunately, the number of outstanding shares more than doubled in those years as Rennova Health raised funds by issuing more shares thereby diluting shareholder value. Only one firm rates RNVA shares and gives them a “Hold”.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Transenterix Inc (NYSEAMERICAN:TRXC) stock is up around 60% on heavy volumes after the company won FDA approval for their Senhance Surgical Robotic System.

FDA Approval Rockets Transenterix Inc (NYSEAMERICAN:TRXC)

Transenterix Inc (NYSEAMERICAN:TRXC)

Medical device company Transenterix Inc (NYSEAMERICAN:TRXC) stock is up around 60% on very heavy volumes after the company won FDA approval for their Senhance Surgical Robotic System. After Friday’s close, the company released the news that the U.S. Food and Drug Administration (FDA) had received FDA 510(k) clearance which makes their device the first new market entrant into the field of abdominal surgical robotics since 2000.

Transentrix Business

TransEnterix, located in Morrissville, NC, is a medical device company that develops and markets robotics to improve minimally invasive surgery by addressing the clinical and economic challenges related to existing laparoscopic and robotic options. It distributes its products globally.

The Senhance Surgical Robotic System is Transentrix’s lead product. It is a multi-port robotic surgery system, which allows up to four arms to control robotic instruments as well as a camera. Transenterix Inc (NYSEAMERICAN:TRXC) also develops the SurgiBot System. It is a single-port, robotically enhanced laparoscopic surgical platform. In addition, the company develops and manufactures flexible and rigid laparoscopic surgical instruments that are used in abdominal surgery.

TRXC Stock Performance

Before today’s action, TRXC stock had attempted, and failed, in recent weeks to break through the $1.50 price level. Last Friday the stock closed at $1.46. This morning, after traders digested the news released last Friday, shares opened at $2.78 and reached $2.85. As of this writing (11:50 AM EST) TRXC shares have dropped down to $2.35. However that price is above TRXC’s 52-week high of $2.19. The volume is very heavy – over 80 times the posted average.

Prior to this morning’s run, shares of Transenterix Inc (NYSEAMERICAN:TRXC) were down 27% for the year but up almost 80% for the quarter. That upward swing is reflected in the Relative Strength Index which stood at 85 before this morning’s open. A figure above 70 normally triggers an “overbought” condition for most traders. That may explain the shares coming off their $2.85 daily high so quickly.

Transentrix Earnings and Sales

Transenterix Inc (NYSEAMERICAN:TRXC) has posted per share losses every year since 2012. For 2016 the per share loss was (-$1.07) which followed a loss of (-$0.59) in 2015. The medical device company posted no sales for 2015 but for 2016 the figure was $1.5 million. One point of serious concern for investors has to be share dilution. In 2012 there were 1.08 million shares outstanding. That figure has grown each year and for 2016 stood at 112.19 million.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $TXRC and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

The Story Behind the Volatility on Roka Bioscience Inc (NASDAQ:ROKA)

Roka Bioscience Inc (NASDAQ:ROKA)

Roka Bioscience Inc (NASDAQ:ROKA) continued to exhibit extraordinary volatility as the biotech firm stock closed Friday down over 12% on 4.5 million shares traded – well above the 30-day, daily average of under 700,000. Despite the drop, ROKA stock has gained 94% over the past month and over 140% over the past week.

Roka Bioscience Inc (NASDAQ:ROKA)

The action began last Tuesday when ROKA stock traded over 25 million shares – just over 166,000 shares had traded. Since mid-July, the stock had traded over 1 million shares exactly twice. The catalyst of last Tuesday’s increased volume and 155% price spike likely was the news that AJA Pharmaceuticals CEO Edward Painter had acquired a 6.89% stake in Roka Bioscience Inc (NASDAQ:ROKA). Painter ended up with a stock purchase totaling 340,000 shares using his personal funds. Reportedly his intention is to pursue an undisclosed business arrangement with his privately held biotech.

ROKA Stock Analysis

On Tuesday, the day the Painter purchase was disclosed, shares hit a high of $2.55 and closed at $1.90. Last Friday, shares tested the $2.55 Tuesday high but got to only $2.43. Accordingly, shares dropped back to $1.92 – just $0.02 above the Tuesday close. Traders claim that, barring more news, it is unlikely to test the Tuesday/Friday highs again until the company announces its earnings on November 17, after the market closes.

One investment firm analyst covers Roka Bioscience Inc (NASDAQ:ROKA) and gives the shares a “Buy” rating with a price target of $10. However, that rating should be viewed in some context. The analyst’s report is almost a year old and the stock has declined over 70% in the past year.

Reported sales for Roka Bioscience Inc (NASDAQ:ROKA) have been impressive. In 2012, the company reported a sales figure of $100,000. That figure has improved every year since and, in 2016, was an impressive $7.2 million. Regrettably, the increase in sales has not shown up in the biotech’s earnings. For 2016, the company reported a per share loss of (-$17.42). Between 2012 and 2015 per share losses ranged from ($13.15) to (-$29.30). Share dilution has also been a problem. In 2014 there were 1.4 million ROKA shares outstanding and by 2016 that number had expanded to 2.21 million.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $ROKA and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

PhaseRx Inc (NASDAQ:PZRX)

Why PhaseRx Inc (NASDAQ:PZRX) Had Increased Volatility Today

PhaseRx Inc (NASDAQ:PZRX)

PhaseRx Inc (NASDAQ:PZRX) stock is up over 15% in late-day trading after the biopharmaceutical company’s Board of Director’s approved a workforce reduction as part of a restructuring effort. PZRX shares hit a high of $1.89 earlier before sellers stepped in. Volumes have been heavy. PZRX shares are listed with a 30-day, daily volume figure of less than 65,000, but by 2:15PM almost 7 million shares have traded hands.

PZRX Stock Chart over the last two days:

PhaseRx Inc (NASDAQ:PZRX)
2 day Stock Chart

PhaseRx Recent Developments

Less than a month ago, PhaseRx Inc (NASDAQ:PZRX) was touting the granting of an Orphan Drug Designation by the U.S. Food and Drug Administration (FDA) for its candidate drug PRX-ASL. PRX-ASL is being developed as a potential treatment for argininosuccinate lyase deficiency (ALSD). ASLD is a rare liver disorder caused by an inherited single-gene deficiency that results in elevated ammonia in the blood and can lead to irreversible neurological impairment, coma, and death.

The FDA grants orphan drug designation to investigational drugs that are being developed for the treatment of rare diseases that affect fewer than 200,000 people in the U.S. The designation of “Orphan Drug” is used to help the drug developers, including assistance with clinical study design and drug development, and providing tax credits for certain clinical trial expenses, exemptions from certain FDA application fees, and seven years of market exclusivity upon regulatory product approval.

PhaseRx Cost Cutting Ahead

The decision to restructure PhaseRx Inc (NASDAQ:PZRX) is aimed to reduce short term operating costs and delay the development of its lead product candidate PRX-OTC. The restructuring will include a 50% workforce reduction. The moves are being made to extend the life of the company as it seeks further alternatives that could include a merger or sale. As of June 30, 2017, PhaseRx had cash and equivalents of $8.4 million and a total of 20 employees.

PZRX Stock

PZRX stock has been in a downward trend since February. Its 52-week high was $3.30 and its low, achieved in late September, was $0.54. Since then the stock has experienced a bit of a rebound. However, investors in PhaseRx Inc (NASDAQ:PZRX) are apparently not keen to fully buy into the restructuring as PZRX shares are trading below today’s opening levels.

 

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $PZRX and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Reuters Article Propels Helios and Matheson Analytics Inc (NASDAQ:HMNY)

Helios and Matheson Analytics Inc (NASDAQ:HMNY)

Helios and Matheson Analytics Inc (NASDAQ:HMNY) stock has been covered by StockNewsUnion.com nine times since December of 2016 and the company is now being covered by financial news giant Reuters. In an article published today. Reuters raised the possibility that Helios and Matheson Analytics Inc (NASDAQ:HMNY) could be a billion dollar company – tapping into a business model similar to Netflix. The news article has sent the stock screaming higher.

Helios and Matheson Analytics Inc (NASDAQ:HMNY)

Helios and Matheson Business Model

Today the stock opened strong and HMNY stock is up over 20% this morning on heavy volumes. Over the past month HMNY shares have increased over 10-fold. According to the Reuters article “The ticketing service, led by Netflix co-founder Mitch Lowe, is seeking to spur the sort of revolution for the movie business that Ryanair did for airlines or Netflix did for streaming. The alliance between the two firms dates exactly to the moment earlier this year when MoviePass slashed all its variable subscription fees in favor of a single $9.95 model, allowing unlimited access to more than 90 percent of U.S. theaters. In the month that followed, the company’s subscriber numbers rose to over 400,000 from less than 20,000.”

On September 18, 2017 StockNewsUnion reported that Helios and Matheson Analytics Inc. (NASDAQ:HMNY) was a big mover after its latest acquisition, MoviePass Inc., announced it had surpassed 400,000 paying monthly subscribers over the last 30 days. The stock rallied 39.54% to end that week’s trading session at a high of $3.67 a share. At the time of the article, Mitch Lowe, co-founder of Netflix Inc. (NFLX), former president of RedBox, and current CEO of MoviePass said in a press release, “MoviePass is the ‘all-you-can-eat’ movie theater experience. Though expensive for the company in the short-term, it’s a significant benefit and more convenient for customers. With MoviePass, there’s no movie ticket prices to think about — going to the movies will become an everyday experience rather than an occasional treat.”

HMNY Stock Performance

Clearly investors are in love with Helios and Matheson Analytics Inc (NASDAQ:HMNY). Well above their 52-week low of $2.20, HMNY shares have a Relative Strength Index (RSI) figure exceeding 97. This is a figure that unquestionably signifies “rare air” in trading circles. Traders would agree that an RSI level of 80 is a clear “overbought” signal.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $HMNY and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Helios and Matheson Analytics Inc. (NASDAQ:HMNY)

Helios and Matheson Analytics Inc. (NASDAQ:HMNY) Keeps Rising

Helios and Matheson Analytics Inc. (NASDAQ:HMNY)

Helios and Matheson Analytics Inc. (NASDAQ:HMNY) traded higher in Monday’s trading session as investors continue to take note of the company’s latest acquisition, MoviePass. The stock was up by 33.9% on viral subscriber growth.

HMNY Stock Performance

HMNY is up by more than 400% for the year, investor confidence on the stock having been strengthened by the acquisition of a majority stake in MoviePass. The stock is currently trading at multi-year highs as it closes in on its 52-week high of $23.49 a share.

Helios and Matheson Analytics Inc. (NASDAQ:HMNY)

The stock’s impressive performance has to do with a milestone that MoviePass has achieved in recent weeks. The technology company has surpassed 400,000 paying monthly subscribers over the past month – up from less than 20,000 in August.

MoviePass Subscriber Growth

The robust subscriber growth has mostly come from an innovative technology that learns subscriber’s tastes and makes recommendations. Reduction of the monthly subscription to $9.95 also had a positive impact.

A survey on MoviePass subscribers shows that most of them decided to start watching movies in theaters because of the MoviePass subscription service. The company expects its subscription base to grow to 2.5 million paying subscribers over the next 12 months.

A decision by Netflix, Inc. (NASDAQ:NFLX) to increase the prices of its subscription plans has also been a blessing in disguise for the Helios and Matheson Analytics subsidiary. The price increase has essentially made MoviePass offerings relatively cheap, thereby bolstering subscriber’s and investor’s excitement.

MoviePass is the ‘all-you-can-eat’ movie theater experience. Though expensive for the company in the short-term, it’s a significant benefit and more convenient for customers. With MoviePass, there’s no movie ticket prices to think about — going to the movies will become an everyday experience rather than an occasional treat,” said MoviePass CEO Mitch Lowe.

In a bid to attract more subscribers and a keep studios happy, Helios and Matheson Analytics Inc. (NASDAQ:HMNY) has started to use artificial intelligence and algorithms to provide studios with precise data for effective advertising. Movie theaters have already reported a 400% increase in attendance attributable to MoviePass.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $HMNY and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

TrovaGene Inc (NASDAQ:TROV)

Is this a Turn-Around for TrovaGene Inc (NASDAQ:TROV)

TrovaGene Inc (NASDAQ:TROV)

Shares of TrovaGene Inc (NASDAQ:TROV) are trading with exceptionally heavy volume after the biotechnology company’s drug candidate PCM-075 was granted an Orphan Drug designation by the U.S. Food and Drug Administration (FDA). PCM-075 is being developed for the treatment of patients with Acute Myeloid Leukemia (AM).

TROV Stock Movement

TrovaGene Inc (NASDAQ:TROV) shares have a listed 30-day, daily average volume of less than 650,000. However less than 30 minutes into trading over 3.5 million shares have traded hands. On Friday, TROV stock closed at $0.85 but gapped up to open at $1.02 before hitting an inter-day high, as of 10AM, of $1.03. TROV shares have since come off those levels and are trading near $0.90.

TROV investors have not had a good 2017. Year-to-date shares are down over 50% and down over 30% for the quarter. TROV stock has done well more recently though. In mid-July investors sent shares tanking from $1.60 and, until last Friday, the shares languished below $1 for all of September and October. Earlier this year, TROV shares hit their 52-week of $4.75.

TrovaGene Inc (NASDAQ:TROV)

TrovaGene Developments

The granting of the Orphan Drug designation allows the drug, once ap[proved, to be eligible for a seven-year period of U.S. marketing exclusivity, as well as other development assistance and financial incentives.

Acute myeloid leukemia (AML) is a hematologic malignancy in which myeloid lineage cells of the bone marrow cease to differentiate appropriately, resulting in a marked increase in the number of circulating immature blast cells. As a consequence, the counts of mature red blood cells, platelets, and normal white blood cells decline, causing fatigue, shortness of breath, bleeding, and increased susceptibility to infection.

Bill Welch, Chief Executive Officer of TrovaGene Inc (NASDAQ:TROV) stated in a press release,”AML is an aggressive cancer of the blood and bone marrow with approximately 20,000 new cases in the U.S each year. We see the FDA’s granting of orphan drug designation for PCM-075 as underscoring the medical need for new therapies for patients with AML and an important step forward in our clinical development program.”

Analysts have a consensus price target of $6 on shares of TrovaGene Inc (NASDAQ:TROV). Three analysts cover TROV stock. Two rte it as a “Strong Buy” while one rates it as a “Hold”.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $TROV and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.