MIAMI, July 1, 2016 /PRNewswire/ --
TechStockInsider.com Briefing: Markets continued to trade higher as increasing bullish sentiment remains steady in the US with regard to "the Brexit." The Dow Jones industrial average and S&P 500 recovered more and saw their third-straight quarter of gains Thursday as stocks regained much of their ground that followed the Brexit plunge. Friday marks the first trading day of the third quarter and could be the fourth day in a row that markets end higher. As of yesterday's close, the major indexes were on track for weekly gains of nearly 3% or more. With the rally continuing to echo across markets, we've identified four stocks that are bucking the trend:
Catalyst Biosciences, Inc. (NASDAQ: CBIO) saw coverage initiated by Rodman and Renshaw on Thursday with a rating of Buy from the research firm. This came after the company announced last week that it has received patents issued by the U.S. Patent and Trademark Office, the European Patent Office, and the Korean Intellectual Property Office. These patents cover the Company's lead hemostasis programs, next-generation coagulation Factor VIIa and Factor IX, and the Company's anti-complement program. These additional patents build on the Company's portfolio to a total of 103 patents issued worldwide.
On Friday the stock traded higher, seeing highs of $2.00 during the first hour of trading and with an increase in trading volume to levels that are well above average. The stock has remained in a clear bull trend since earlier this week when it was trading at $1.16. It has since rallied as much as 72%.
Life Clips, Inc. (OTC: LCLP) came out with a press release late in the day on Thursday, which some are calling one of the company's biggest announcements to date. Life Clips announced that the company has signed an exclusive distribution agreement with Cities Market for the Life Clips® 4K Action Camera & Accessories granting the exclusive right to distribute to BestBuy (NYSE:BBY) and Target (TGT) as well as their respective online outlets of bestbuy.com and target.com.
CITIES Market Studios is focused on bringing exciting, innovative, merchandising strategies, ideas, brands and products to its retail and manufacturing partners that included Target, Best Buy, Walmart (WMT), GameStop (GME), Amazon (AMZN), and others.
The stop has traded as high as $0.63 on Friday morning after having seen one of its highest trading volume days since May of this year. LCLP has maintained an uptrend over the last three days after hitting lows of $0.4991 on Tuesday.
New Concept Energy, Inc. (NYSE: GBR) has followed suit with the larger with a jolt of trading action at the opening bell on Friday. The stock traded higher after speculation surrounding the short interest arose in an article from InsiderMonkey. The contributor stated, "Almost a quarter of the float is short, and the company only has a share float of 0.78 million according to FINVIZ."
Since tumbling from highs on Tuesday of $3.29, GBR shares have rallied on Friday. The stock closed Thursday's trading session at $1.81 and has since hit highs on Friday of $2.55 before the lunch hour.
Continuing its run from earlier this week, Galena Biopharma, Inc. (NASDAQ: GALE) has managed to see highs during the morning of $0.62 marking a total run up of 125% since lows earlier this week of $0.275. News of its discontinuation for the study of Galena's NeuVax sent shares plummeting on Wednesday. Analysts from Raymond James ended up downgrading the stock from "outperform" to "market perform" as well.
Galena was in its Phase 3 PRESENT trials for NeuVax were stopped "due to futility". "We are extremely disappointed with the outcome of the PRESENT futility analysis," said Mark W. Schwartz, Ph.D., President and Chief Executive Officer. "On behalf of our entire company, I would like to thank all of the courageous patients and their families, investigators, study staff and independent committees who participated in the PRESENT study. To date, the trial has not been un-blinded other than by the IDMC, and we need to evaluate the data. We expect to host a conference call next week to provide a preliminary review of the PRESENT trial and an update on all of our immunotherapy and hematology clinical development programs."
Despite this news, share prices for GALE has followed suit with the rest of the markets on Friday.
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