$VKTX appointed a Kathy Rouan to their Board of Directors last week. Then yesterday she bought a significant amount of stock. She's the wizkid from GlaxoSmithKline ($GSK). $VKTX is currently trading at $8 with a buy rating setting a price of $14. Definitely going on my end of month watchlist just in case the price action warms up.
$FLKS approved all points on their planned merger with Salarius Pharma in a special after-hours meeting on Friday. They plan to complete the merger in the next couple of weeks. $FLKS shares were up 15% in after hour trading last night as a result. Definitely on the Monday morning watchlist.
$OHRP completed its merger with Neubase yesterday afternoon. Beginning Monday morning, they will trade under the new ticker, $NBSE. This stock was up 45% on Friday so maybe a continuance on Monday. Who knows, but definitely worth a peek to see if traders stay interested.
$TRIB is up 41% as of close on Friday. They had 3 very strong green days last week and I believe this strength will push them green at least through Monday. Now here's the clinch. They are scheduled to release their Q2 earnings on Thursday. Given their Q1 earnings showed a pullback (but still green) from Q4 2018, and given they've been steadily showing gains for the entire month of July after June was a horrible red month, maybe their Q2 earnings will give them a breakeven. I don't know but I do suspect Monday will have some price action.
I tend to focus on biotech securities because I understand their price action. Biotechs have a tendency to move fast during the first few minutes of trading and then level off for the remainder of the day. It's been my limited experience when trading biotechs to pay attention to the spread, time & sales, patterns. These types of companies tend to trap retail traders. Don't be a bagholder. Whether you're long or short, take safe profits and walk away.
Thanks Joey.
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