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Good day, 360! Here are some of our top movers today.
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FOCUS LIST🔎
FGEN – Up over 50% in pre after announcing the Sale of FibroGen China to AstraZeneca for Approximately $160 Million
XOS – Up over 25% in pre after announcing major milestone: Xos Hub listed on Federal GSA Schedule
HLF – Up over 25% in pre after reporting better than expected earnings, appointing new CEO
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HOTLIST🔥
FGEN – Up over 50% in pre after announcing the Sale of FibroGen China to AstraZeneca for Approximately $160 Million
FibroGen Inc. (FGEN) is a biopharmaceutical company that discovers, develops, and commercializes therapeutics to treat serious unmet medical needs.
In the pre-market, the company announced the sale of its China subsidiary to AstraZeneca for approximately $160 million.
Highlights of the transaction include:
Purchase price represents enterprise value of $85 million plus FibroGen net cash held in China at closing, currently estimated to be approximately $75 million
Upon close, FibroGen will repay its term loan to Morgan Stanley Tactical Value, further simplifying the Company’s capital structure
Company’s cash runway extended into 2027
Company to continue to advance its oncology pipeline, with the initiation of the Phase 2 monotherapy trial of FG-3246 in metastatic castration-resistant prostate cancer (mCRPC) in 2Q 2025
Preliminary unaudited cash, cash equivalents, and accounts receivable of $121.1 million as of December 31, 2024
According to Finviz, based on yesterday’s close, FGEN’s market cap was approximately $56.63 million.
Shares of FGEN traded up over 50% in the pre-market in reaction to the sale.
The $0.88 area acted as support in the pre-market and will be an important level to watch. Above it, targets to the upside are $0.97, $1 and then the pre-market high at $1.04. Beyond that, $1.20, $1.35, and $1.53 come into play.
Below $0.88, targets to the downside are $0.8410, $0.75, $0.65 and then a gap fill at $0.5620.
XOS – Up over 25% in pre after announcing major milestone: Xos Hub listed on Federal GSA Schedule
Xos Inc. (XOS) designs, manufactures, and sells battery-electric commercial vehicles.
In the after-hours, the company announcedthat its innovative Xos Hub™ has been officially added to the General Services Administration (GSA) Schedule. This milestone makes it easier than ever for federal agencies and authorized customers to quickly and efficiently procure the Xos Hub, a state-of-the-art mobile energy storage system and DC fast charger.
Dakota Semler, CEO and Co-Founder of Xos, Inc. stated:
“As Federal agencies seek to reduce operational expenses, the total cost of ownership benefits of EVs present a massive opportunity for budget savings.
Shares of XOS traded up over 25% in the pre-market in reaction to the news.
The $3.90 area acted as support in the pre-market and will be an important level to watch. Above it, targets to the upside are $4.50, $4.90 and then the pre-market high at $5.60. Beyond that, $6.30, $7 and $7.50 come into play.
Below $3.90, targets to the downside are $3.76, $3.25 and then a gap fill at $3.13.
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HLF – Up over 25% in pre after reporting better than expected earnings, appointing new CEO
Herbalife Ltd. (HLF) provides health and wellness products in North America and internationally offering products in the areas of weight management; targeted nutrition; energy and sports among others.
In the after-hours yesterday, the company reportedfinancial results for the fourth quarter and year ended December 31, 2024.
Highlights include:
Net sales of $1.2 billion, down 0.6% vs. Q4 ’23 and at high end of guidance range
Includes 330 basis points of FX headwinds
Up 2.7% year-over-year on constant currency basis1
Net income of $177.9 million includes non-cash income tax benefits of $147.3 million; adjusted net income2 $36.8 million
Adjusted EBITDA2 of $150.0 million exceeds guidance; adjusted EBITDA2 margin up 340 basis points vs. Q4 ‘23
Diluted EPS of $1.74; adjusted diluted EPS2 $0.36
In addition, the Board of Directors have appointed Stephan Gratziani as Chief Executive Officer.
Shares of HLF traded up over 25% in the pre-market in reaction to the news.
The first target for bulls is the pre-market high at $7.09. Beyond that $7.50, $8.20 and $9 come into play.
Below $7.09, targets to the downside are $6.60, $6.30, $5.90 and a gap fill at $5.62.
MARKET NEWS 📰
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