24/7 Market News Daily Wrap 29 Feb 2024

DENVER, Colo., Feb 29, 2024 (247marketnews.com)- C3.ai, Inc. (NYSE:AI), Enveric Biosciences (NASDAQ:ENVB), Sidus Space (NASDAQ:SIDU), Envoy Medical (NASDAQ:COCH), and Lava Therapeutics N.V. (NASDAQ:LVTX)

C3.ai, Inc. (NYSE:AI) reported, after yesterday’s market close, that its fiscal third quarter revenue topped guidance and grew 18% to $78.4 million, compared to $66.7 million one year ago, with subscription accounting for 90% of the revenue. C3 also raised its fiscal fourth quarter guidance to $82-$86 million and full year guidance to $306-$310 million.

C3 was trading at $34.19, up $4.50 (+15.16%), on 175,861 shares, when we covered the news and it hit a $38.30 high, then closed at 36.97, up $7.28 (+24.52%), on 55,889,153 shares. It last traded at these levels last summer and may continue this uptrend move.

Enveric Biosciences (NASDAQ:ENVB) stated that it signed three non-binding term sheets to pursue the out-licensing of three classes of compounds, with an undisclosed company, that were created using Enveric’s library of over 1,000 novel molecules.

Enveric was trading at $1.39, up $0.56 (+67.47%), on 9.32M shares, when we covered the news and it topped out at $2.92, but gave a lot of it back to close at $1.45 (+74.49%), on 176,341,031 shares. It was acle to hold the $1.27 key inflection point.

Sidus Space (NASDAQ:SIDU) traded better today than yesterday, when it announced that its LizzieSat satellite is securely encapsulated within SpaceX’s payload fairing in preparation for launch, as part of SpaceX’s Transporter-10 Rideshare mission, no earlier than March 2024.

SIDU was trading at $6.19, up $0.62 (+11.13%), on 2.1M shares, adding to yesterday’s 84-cent (+17.76%) gain, on 694,847 shares, when we covered it and mentioned that it had a gap to around the $8.50 level. SIDU’s high of the day was $10.1485 and closed at $8.98, up $3.41 (+61.22%), on 35,557,914 shares. It’s trading lower in afterhours trading on funding news.

We stated that even though Envoy Medical’s (NASDAQ:COCH) trading today was not for the faint of heart, it a scalp trader’s dream and it didn’t disappoint.

The White Bear Lake, Minnesota hearing health company opened today’s trading at $4.13 and was trading at $3.95, up $0.44 (+12.54%), on 2.2M shares when we covered it. COCH hit a high of $5.91 and closed at $4.71, up $1.20 (+34.19%), on 8,005,448 shares.

After quietly trading sideways, Lava Therapeutics N.V. (NASDAQ:LVTX) shot straight up from below $2.25 to $3.41 and we covered it when it pulled back to $3.12, up $0.96 (+44.44%), 3.4M shares.

The clinical-stage immuno-oncology company focused on advancing its proprietary Gammabody platform then hit beast mode and reached $6.47, before closing at $3.33, up $1.17 (+54.17%), on 36,764,370 shares.

Even though it’s trading lower in the afterhours session, it more than triple its reported 10.22M float, so it may perk up again in the next few days.

ACM Research (NASDAQ:AMCR), Bit Brother Limited (NASDQ:BETS), Bandwidth (NASDAQ:BAND), Adial Pharmaceuticals (NASDAQ:ADIL), and vTv Therapeutics Inc. (NASDAQ:VTVT) were some of yesterday’s Wrap stars and they’re looking strong.

For example, ACM Research (NASDAQ:AMCR), which reported its fourth quarter and fiscal year 2023 financial results was trading at $25.40, up $3.61 (+16.57%), on 108.4K shares, when we covered and it set a new 52-week high of $31.005, its highest level since early 2022.

As they say, records are made to be broken and AMCR hit $32.98, then closed at $30.92, up $0.24 (+0.78%), on 3,507,628 shares.

Bandwidth (NASDAQ:BAND) is still playing a sweet tune, following its fourth quarter and full year 2023 financial results, and was trading at $14.00, up $1.85 (+15.23%), on 40K shares, when we covered it. It, too, went on to set a new 52-week high, of $18.89, before closing at $18.44, up $6.29 (+51.77%), on trading volume of 2,987,794 shares. Today, BAND topped out at $20.85 and closed at $20.54, up $2.10 (+11.39%), on 1,513,558 shares.

Adial Pharmaceuticals (NASDAQ:ADIL) announced its new US patent, number 11,905,562, and, although we were late and missed the first run, it was trading at $1.98, up $1.1067 (+126.73%), on trading volume of 35,071,381 shares, and it ran to a high of $2.87, but dropped to close at $1.62, up $0.7467 (+85.50%), on trading volume of 111,321,434 shares. Today it reached $2.50 and the formed a platform at $2, as it closed at $2.04, up $0.42 (+25.93%), on 28,750,956 shares.

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