0.00Open0.00Pre Close0 Volume0 Open Interest17.50Strike Price0.00Turnover6868.44%IV52.57%PremiumMay 17, 2024Expiry Date6.03Intrinsic Value100Multiplier-4DDays to Expiry0.00Time Value100Contract SizeAmericanOptions Type-0.8106Delta0.0530Gamma--Leverage Ratio-28.9013Theta0.0000Rho0.00Eff Leverage0.0002Vega
IGM Biosciences Stock Discussion
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However, pressure on vaccine makers dragged down the healthcare sector, making it the worst-performing sector in the $S&P 500 Index(.SPX.US)$last week. After three consecutive weeks of gains, health stocks dropped ~0.7% as a whole, while the broader index climbed ~2.0%.
Among stocks with more than $2B market capitalization and over 100K average daily volume over the past five sessions, $Cassava Sciences(SAVA.US)$dominated with a gain of ~110.8%. Its shares surged Thursday after the biotech highlighted the data integrity of a peer-reviewed article that was the basis of its experimental Alzheimer’s drug, simufilam.
Despite a late selloff, $iRhythm Technologies(IRTC.US)$climbed ~49.6% buoyed by favorable Final reimbursement rates published by the Centers for Medicare & Medicaid Services (CMS) for 2022. iRhythm shares had come under pressure early this year amid concerns over the reimbursement rates for its ECG monitoring devices.
$IGM Biosciences(IGMS.US)$added ~33.7%, thanks mainly to an upgrade issued by Wedbush citing an upcoming data readout for the company early-stage asset for B-Cell Malignancies, IGM-2323. While $Arrowhead Pharmaceuticals(ARWR.US)$surged ~26.5% during the week, driven by better than expected Q3 financials, $Apollo Medical(AMEH.US)$closely followed up with a ~25.3% rise.
Notable gainer: The clinical-stage biopharma company, $ABVC BioPharma(ABVC.US)$, started the month on a strong note rising as mush as 930% in the pre-market on Monday amid online chatter. While meme buzz appeared to wane, as the stock closed the week only ~47.6% higher, it was the hottest new healthcare stock followed by Seeking Alpha users this week with over 59 new additions for every removal.
The first regulatory win secured by $Merck & Co(MRK.US)$for its COVID-19 pill and promising data posted by $Pfizer(PFE.US)$or a rival medicine for the disease sent shockwaves across the biotech world, not least the established makers of vaccines and intravenously-given antibody therapies.
While $Adagio Therapeutics(ADGI.US)$, a recently IPO’ed developer of a COVID-19 antibody treatment, led the decliners with a drop of ~31.5% over the week, $Moderna(MRNA.US)$plunged ~31.4%. Coming close on the heels of a lowered outlook for 2021, the latest sign of a fast-approaching oral remedy for the pandemic, dethrone the leading COVID-19 vaccine maker as the best performing stock in the S&P 500 this year.
$BioNTech(BNTX.US)$, the German partner of Pfizer in its COVID-19 vaccine, shed ~22.3%, while $Vir Biotechnology(VIR.US)$, the manufacturer of Sotrovimab antibody therapy for the disease, lost ~17.2%. Rounding out the top five decliners this week, life sciences company $Maravai LifeSciences(MRVI.US)$witnessed a late selloff to end ~17.2% lower ahead of its quarterly earnings next week.
Notable decliner: Notwithstanding the much-awaited international recognition secured by its partner for a COVID-19 vaccine, $Ocugen(OCGN.US)$slipped ~13.5% this week. For those who considered the World Health Organization (WHO) authorization as a major endorsement for the COVID-19 shot the company intends to commercialize in the U.S, it is a shocking reversal as the stock pared the ~42.3% gain recorded last week.
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