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Here are some of our top movers today. And don’t forget to join us in Market Masters – the hottest trading room around 🔥. Be the best prepared trader on the Street!
FOCUS LIST🔎
VRPX- Up over 70% in the pre-market after announcing agreement with the U.S. Department of Health and Human Services for the developmental extension for NES100 towards IND for Acute and Chronic Non-Cancer Pain Alternative
BENF – Up over 25% in the pre-market after announcing it had reported to the Kansas Legislative Committee on Its positive developments and the digital transformation of the alternative asset industry
GAP – Up over 15% in pre after reporting better than expected earnings, raising full year outlook
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HOTLIST🔥
VRPX- Up over 70% in the pre-market after announcing agreement with the U.S. Department of Health and Human Services for the developmental extension for NES100 towards IND for Acute and Chronic Non-Cancer Pain Alternative
Virpax Pharmaceuticals Inc. (VRPX) is a preclinical-stage pharmaceutical company that develops various drug-delivery systems and drug-releasing technologies focused on advancing non-opioid and non-addictive pain management treatments and treatments for central nervous system disorders.
In the after-hours yesterday, the company announcedthat it has been granted an extension of its cooperative research and development agreement with the National Center for Advancing Translational Sciences (NCATS), an institute/center of the National Institutes of Health (NIH), U.S. Department of Health and Human Services.
This collaboration is for the continued development of Virpax’s product candidate, NES100, an intranasal peptide, for the management of acute and chronic non-cancer pain.
NES100 is an enkephalin drug product based on a type of nanotechnology delivery approach. Enkephalin is a naturally occurring (endogenous) peptide that is not easily administered in its original form.
Shares of VRPX traded up over 70% in the pre-market in reaction to the news.
The $1 area acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $1.10, $1.20 and then the pre-market high at $1.29. Beyond that, $1.50, $1.70 and $1.90 come into play.
Below $1, targets to the downside are $0.90, $0.80, $0.70 and then a gap fill at $0.5897.
BENF – Up over 25% in the pre-market after announcing it had reported to the Kansas Legislative Committee on Its positive developments and the digital transformation of the alternative asset industry
Beneficient (BENF) is a technology-enabled financial services company that provides liquidity solutions and related trustee, custody and trust administrative services to participants in the alternative asset industry in the United States. It operates through Ben Liquidity, Ben Custody, and Customer ExAlt Trusts segments.
In the after hours yesterday, the company announced that it had provided an update to the State of Kansas Joint Committee on Fiduciary Financial Institutions Oversight about its business operations, the digital innovation occurring in the alternative asset industry and related economic development activity for the benefit of Kansas communities under the Kansas Technology-Enabled Fiduciary Financial Institutions (TEFFI) Act (“Act”).
As part of its update, the company emphasized BENF’s continued advancement of its financial industry focused business through new technology innovation, an authorization by BENF’s board of directors to complete up to $5 billion in fiduciary financings and a transaction involving the reclassification of certain preferred equity that increased Beneficient’s permanent equity by $126 million.
Shares of BENF traded up over 25% in the pre-market in reaction to the news.
The $1 area acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $1.10, $1.15, $1.20 and then the pre-market high at $1.25 and then the pre-market high at $1.28. Beyond that, $1.40, $1.75 and $2.10 come into play.
Below $1, there is a gap fill at $0.88 and then $0.80 after that.
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GAP – Up over 15% in pre after reporting better than expected earnings, raising full year outlook
The Gap, Inc. operates as an apparel retail company. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands.
In the after-hours yesterday, the company reported financial results for its third quarter ended November 2, 2024.
Highlights Include:
-Net sales increased 2% versus last year with comparable sales up 1%
-Operating margin of 9.3% improved 270 basis points versus last year
-Market share gains across all brands in the quarter
-Raises outlook for fiscal 2024 net sales, gross margin and operating income growth
Shares of GAP traded up over 15% in the pre-market in reaction to the earnings results.
The first target for bulls is the pre-market high at $25.60. Beyond that, $26, $27, $29 and $30.75 come into play.
Below $25.60, targets to the downside are $25, $24.50, $23 and then a gap fill at $22.04.
MARKET NEWS 📰
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