We share weekly commentaries with investors on stocks in our strategies that have appreciated or dropped more than 15% in a day during the course of the week. We hope you find this commentary useful.
Beam Therapeutics (BEAM)
Beam Therapeutics (BEAM), a base editing company that does not require double stranded DNA breaks, closed up 17% on Tuesday after Blue Bird Bio (BLUE) determined that its gene therapy for sickle cell anemia was not the cause a patient’s acute myeloid leukemia (AML). The Blue Bird’s finding set off a rally in most gene therapy stocks, including BEAM.
Cellectis (CLLS), a bio-pharmaceutical company that harnesses the power of TALENS, a gene editing technique to create immunotherapies, traded up 18% on Tuesday, perhaps because Blue Bird Bio determined that its gene therapy for sickle cell anemia did not cause a patient’s acute myeloid leukemia (AML).
Materialise (MTLS) and Nano Dimension (NNDM) both traded higher on Tuesday and Thursday after reporting better than expected revenues. Materialise, a 3D printing company specializing in medical software and services, reported fourth quarter revenues that declined 10.7% on a year over year basis but increased 11.1% sequentially. Its stock closed up more than 26% on Tuesday and another 17% on Thursday. Nano Dimension, a 3D printer manufacturer focused on high performance electronics, closed up more than 19% on Tuesday before its fourth quarter earnings release and then 18% on Thursday after reporting better than expected revenues that were flat on a year over year basis.
NIU Technologies (NIU), an electric scooter company based in China, appreciated 25% on Tuesday as electric vehicle stocks responded to strong delivery reports. Its fourth quarter earnings beat expectations on both the top and the bottom lines. NIU is planning for a 33% increase in electric scooter deliveries, from roughly 600,000 last year to 1 million units this year.
Intellia Therapeutics (NTLA), a CRISPR based gene editing company with a strong focus on in vivo editing, closed up 22% on Tuesday after Blue Bird Bio determined that its sickle cell gene therapy did not cause a patient’s acute myeloid leukemia (AML), triggering a broad-based rally in gene editing stocks. In addition, at the Keystone eSymposium this week, Intellia presented promising pre-clinical data on the in vivo CRISPR editing of bone marrow.
Experience Investment Corporation (EXPC), the SPAC acquiring urban air mobility platform Blade, closed up 18% on Thursday after reporting stronger than expected first quarter results. Strength in its organ transport business offset declines in its short-distance travel business. Blade also announced that it will re-launch its $195 New York City airport transfer service.
Vuzix (VUZI), a company developing wearable display technology, traded up 20.5% on Thursday after announcing a partnership with German startup Rooom AG, a cloud-based platform that helps users digitize assets and products with computer aided design (CAD). The partnership will help Vuzix support the creation of advanced 3D augmented reality content for both new and existing enterprise customers.
LendingClub (LC) traded up 16% on Friday after releasing fourth quarter earnings that surpassed expectations despite lower-than-expected revenues. While the COVID-19 crisis hit LendingClub hard, it is rebounding rapidly and expects revenues to beat analysts’ expectations for this year.