Difficult day for the market with the NASDAQ down 0.25% and the Biotech Index down 1.1%. This portfolio was down ~0.6% – perhaps due a rest after four consecutive up days. Currently holding VTUS (up 3%), APPY (up 44%) and CPRX (up 24%). VTUS and APPY are small positions as I have previously exited 50% (both on 9/11).
VTUS is certainly disappointing in that I exited the first 50% at $3.45 and the price has rapidly come back towards my entry level (closed today at $2.70). On 9/11 it traded as high as $3.72. I am continuing to hold though. I am reasonably confident in the ultimate results of the pending phase 3 trial and it seems likely that if the PK/PD trial results were able to inspire a 40% spike, the P3 results should be all the more significant; Hopefully the stock will see some price appreciation ahead of time. It is certainly unfortunate that the trial data release seems to have been pushed back a few months.
I have been in APPY for about 60 days and am currently up 38%. I am going to take some profits here at $1.77 and sell half of my APPY shares.
This afternoon I have added a couple of stocks to the mix. I bought a position in VTUS an $2.62 and a position in CPRX at $2.32.
APPY fell sharply today after a nice run from $1.42 to $1.77 in the last week. My portfolio was also down – time for a bit of a rest after 8 consecutive up days.
ZLCS popped this morning in the pre-market. I think it got as high as $0.98. I decided to take advantage of the strength and got out just after the open at $0.91. I had been in this one since August 8th when I bought it at $0.71. It was a rough ride as it dropped as low as $0.56 the following week. I was very happy to be able to exit up 28% on the position.
Yesterday I dropped my position in IPCI. I sold it at $1.91 for a 9% loss. I was wary of this from the start – and took a smaller position than I usually do. Once in it, I found that I did not really feel like hanging on to see if it could regain its recent highs.
APPY had a nice move today closing at $1.56. In late July it broke $1.60 but fell back quickly. I am up 22% on this one and hoping for a bit more. Just greedy I suppose. APPY is developing a diagnostic blood test that will help to assess children presenting with abdominal pain – specifically it will aid in ruling out a diagnosis of appendicitis. Very small market cap with an expectation of further data from their pivotal trial over the coming months.
Today opened very strongly for my two holdings building on yesterday’s momentum. Yesterday APPY closed at $1.53 – a great 11% move up from the previous day’s close at $1.38. BIOD also had a great day closing up 8% at $4.74. Based on that, my portfolio here hit a new high of $575K (indexed, as always, to the day I started tracking on this site).
APPY gapped up today and hit $1.62 soon after the opening. If gradually fell back and closed down 3.3% at $1.48.
BIOD similarly had a great first 15 minutes hitting $5.09 before eventually closing flat at $4.76. So I ended up with a down day. Holding on to both and hoping that BIOD will be able to break through the $5 barrier that it seems to have been struggling with. I am currently up 75% with BIOD and 16% with APPY.
Let’s see what can be done in H2. Have not traded anything since late April when I cut DCTH and XNPT loose. Adding APPY today at $1.28 so now have APPY and BIOD. Looking for additional positions.