CCCC - Notable New 52s

2024-02-23 09:39:41 ET

DENVER, Colo., Feb 23, 2024 (www.247marketnews.com)- C4 Therapeutics (NASDAQ: CCCC ), Kraig Biocraft Laboratories (OTCQB: KBLB ), Iovance Biotherapeutics, Inc. (NASDAQ: IOVA ), and NVIDIA (NASDAQ: NVDA ) were among the listings that hit new 52-week highs, yesterday, and are well positioned to continue their moves.

C4 and Kraig Labs are two of our favorite listings to cover, over the past two or three months, while Iovance has been one of our most featured listings of the past week and NVIDIA is one that we rarely cover, simply because we tend to focus on the sub $15 market.

C4 is continuing a run that we started covering when it was trading at $1.54, following its license and research collaboration with Merck news, in December and a week after hit a 52-week low.

We stated that it may be driven higher by short covering, because it broke its all-time daily trading volume, on more than 222 million shares traded that day, meaning it traded its reported 37.72 million share float about six times in just one day.

C4 reported its fourth quarter and full year 2023 financial results, yesterday, and Andrew Hirsch, CEO and president of C4 Therapeutics, stated, “We began 2024 with positive momentum across our portfolio and are looking forward to sharing data from our two lead programs, CFT7455 and CFT1946, in the second half of the year, as well as supporting our partner, Betta Pharmaceuticals, with trial start-up activities for the Phase 1 trial of CFT8919 in Greater China this year. As we continue to advance our portfolio, we are well-positioned with a strong balance sheet to deliver on our goals and execute through and beyond meaningful value inflection points in order to bring new therapeutic options to patients with difficult-to-treat diseases.”

C4T closed yesterday’s regular trading session at $8.80, up $1.55 (+21.38%), on 6.92M shares traded, after hitting a 52-week high of $8.975 and is below Stifel’s $12 target.

Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB ) has published a series of updates concerning its spider silk superfiber production process and, on Monday, announced that it created its first premium yarn combining its recombinant spider silk with Pima Cotton.

The yarn blends the finest quality cotton with Kraig’s remarkable spider silk to form a 100% natural fiber composite yarn for use in fabrics and finished garments, and was manufactured in collaboration with one of the world’s leading spinners of high-quality cotton yarns and fabrics.

“This is just the first of many new materials we have planned that incorporate our revolutionary spider silk,” said CEO and Founder, Kim Thompson. “It seemed only fitting that our first composite yarns be blended with Pima Cotton, a luxurious natural fiber that compliments the natural elegance of our recombinant spider silk. With our spring production trials quickly approaching, identifying these first end markets and applications for commercial volumes of silk is a key focus of our team.”

Like C4, Kraig Labs hit its high of the day, 8-cents, just before the market close of $0.0789, up $0.0109 (+16.03%), on trading volume of 2,208,982 shares.

Iovance Biotherapeutics (NASDAQ: IOVA ) has been tearing up the market since announcing that the FDA approved its AMTAGVI (lifileucel) suspension for intravenous infusion, last Friday afternoon, which we covered when IOVA was trading at $9.6056.

es to press forward on the strength of the U.S. Food and Drug Administration (FDA) approving its AMTAGVI (lifileucel) suspension for intravenous infusion, on Friday afternoon, which we covered when IOVA is trading at $9.6056.Its 52-week range is now $3.21 to $15.025, after hitting new 52-week highs Friday afternoon, yesterday, and today. IOVA looks like it wants to take a shot of its April 2022 levels, but will need this strong volume to continue.”The accelerated approval of AMTAGVI™ is the first step in realizing Iovance’s ambition to usher in the next generation of cell therapy by bringing this breakthrough to patients with advanced solid tumors,” said Frederick Vogt, Ph.D., J.D., Interim Chief Executive Officer and President of Iovance.

Iovance Biotherapeutics followed Friday’s news, by announcing, Tuesday morning, that it raised funds intended to support AMTAGVI’s commercial launch, in an underwritten offering of 23,014,000 shares of its common stock at an offering price of $9.15 per share, for approximately $211 million in gross proceeds.

IOVA’s 52-week range is now $3.21 to $16.9261 and IOVA closed trading at $15.94, up $0.17 (+1.08%), on trading volume of 34,582,795 shares.

“The approval of AMTAGVI™ offers hope to those with advanced melanoma who have progressed following initial standard of care therapies, as the current treatment options are not effective for many patients,” said Samantha R. Guild, J.D., President, AIM at Melanoma Foundation. “This one-time cell therapy represents a promising innovation for the melanoma community, and we are excited by its potential to transform care for patients who are in dire need of additional therapeutic options.”

NVIDIA (NASDAQ: NVDA ) boosted the broader markets when it reported record revenues of $22.1 billion, for the fourth quarter ended January 28, 2024, up 22% from the previous quarter and up 265% from a year ago, as well as record full-year revenue of $60.9 billion, a 126% y-o-y increase. While its GAAP quarterly earnings per diluted share was $4.93, up 33% from the previous quarter and 765% higher than last year.

After setting a new 52-week high of $785.75, before closing at $785.3799, up $110.6599 (+16.40%), on trading volume of 85,038,810 shares.

“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations,” said Jensen Huang, founder and CEO of NVIDIA.

“Our Data Center platform is powered by increasingly diverse drivers — demand for data processing, training and inference from large cloud-service providers and GPU-specialized ones, as well as from enterprise software and consumer internet companies. Vertical industries — led by auto, financial services and healthcare — are now at a multibillion-dollar level.

For further info, including Kraig Labs disclosure, click here .

The post Notable New 52s first appeared on 24/7 MarketNews .

For further details see: