ACAD had a nice move today (up 13%) on news that it was raising $86M through a private sale of stock. It will be interesting to see if it can climb back to the mid-$6’s where it opened on news of its Ph 3 success. I imagine that the next likely catalyst here is the announcement of a partnership for further development of pimavanserin.
I took a position in HEB this morning at $0.69. They have an AdCom meeting coming up on the 20th. In the last couple of months the stock seems to have had pretty solid support in the low $0.60’s. Looking for a move now in the week ahead of the meeting. This stock does tend to move aggressively.
In other news, PATH had a reasonable day (up ~3%) while RPTP ended up giving back about half of its gains from yesterday.
Great day for the portfolio which moved up 2.3% overall driven by a huge move in RPTP – shot up 13% on strong volume.
Sadly PATH did not move and is showing no strength at the moment. $3 has been a decent support level in the past so I am watching here. I am not planning to give it much space on the downside.
RPTP is up 20% from my entry price of $4.80 on November 26. My PATH position is down 2% over the same period.