Stocks taking center stage on Wall Street (RDUS,PHCF,SESN,FWBI,BLBX)

The darling of Wall Street received a downgrade from Deutsche Bank downgraded Netflix (NASDAQ:NFLX) to hold from buy and maintained its 12-month price target of $590, which is 7% below where the stock closed Tuesday. However, Wall Street is still optimistic with Facebook (NASDAQ:FB) and other tech stocks reporting later this week and next. Below are some stocks that are gaining attention from Wall Street today:

Radius Health (NASDAD:RDUS) shares are soaring today after the company announced topline results from the EMERALD Phase 3 study evaluating elacestrant as second- or third-line monotherapy in ER+/HER2- advanced/metastatic breast cancer patients. Treatment with the test compound showed a statistically significant increase in progression free survival in ER+/HER2- advanced/metastatic breast cancer patients.

Puhui Wealth Investment Managemnt Co Ltd (NASDAQ:PHCF) has gained over 26% on a heavy trading volume. There seems to be no new news from the company besides the one in August. Back in August, PHCF had announced that it closed a registered offering of a 10% Original Issue Discount Convertible Subordinated Debenture in the principal amount of $2,750,000 (“Debenture”) as of August 20, 2021.

Sesen Bio Inc (NASDAQ:SESN) is ripping in today’s market after the company announced that the FDA has granted its request for a Type A meeting to discuss issues raised in the FDA’s complete response letter related to vivineum. More than 50M shares have exchanged hands and the stock is currently trading at mere $1.33.

First Wave BioPharma, Inc (NASDAQ:FWBI) received a  “Study May Proceed” letter for the Company’s Phase 2a PASSPORT trial investigating FW-ICI-AC as a treatment for Grade 1 and Grade 2 colitis and diarrhea in oncology patients receiving treatment with immune checkpoint inhibitors (ICIs).

One small cap company that is looking to go public on NASDAQ is Blackboxstocks Inc (OTC US:BLBX). After launching BlackBoxStocks in 2014 and building it on “shoestrings,” the startup is bucking the VC route, uplisting from the OTC Pink market in an effort to give everyone a “shot at getting a piece of the action in an early stage,” Kepler said. See More HERE

BlackBoxStocks has traded under the same OTC symbol since 2015. At close on Oct. 14, the company’s stocks were trading at $7.05 per share. While Yahoo! Finance currently lists BlackBoxStocks’ market cap on the OTC markets at more than $68.5 million, Kepler said he estimates it at around $100 million, a discrepancy he attributes to the deal structure of early-stage VC and private equity investors.

“We felt there was a better way to capitalize a company. We’d raise our own money initially,” Kepler said, “We didn’t want to do any highly dilutive issuances in the interim before we can get to a larger exchange, so we toughed it out.” A complete research report can be found at HERE.

 

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Published by Pamela Garcia

Pamela Garcia is a keen follower of U.S. stock market

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