Easy Peasy Lemon Squeezy- Stocks with Potential to Make Lemonade
DENVER, Colo., Dec 14, 2023 (247marketnews.com)- C4 Therapeutics Inc. (NASDAQ:CCCC), Merck (NYSE:MRK), Aditxt Inc. (NASDAQ:ADTX), and (NASDAQ:SYTA) Siyata Mobile.
C4 Therapeutics Inc. (NASDAQ:CCCC) is in the midst of an explosive week, which crescendoed into its all-time trading volume high on Wednesday, as more than 222 million shares traded and it hit a high of $6.03 a share. The stock traded the 42 million share float more than 5.5 times and is currently at $5.67 a share.
C4 announced an exclusive licensing agreement with Merck (NYSE:MRK) to develop degrader-antibody conjugates (DACs), an emerging modality designed to selectively target and neutralize disease-causing proteins in cancer cells. The stock opened Tuesday at $1.26 and 24/7 alerted it at $1.89 a share. The stock is currently up about 200% heading into today’s session.
Stifel upgraded C4 to “buy” with a target of $12 and the possible short interest could cause another big move heading into the weekend.
C4’s recent press release included, “We are excited CFT7455 monotherapy is showing promising signs of anti-myeloma and immunomodulatory activity and anti-myeloma activity when combined with dexamethasone, particularly in patients who have undergone numerous lines of prior therapy for multiple myeloma, including BCMA therapies,” said Len Reyno, M.D., chief medical officer of C4 Therapeutics. “We have established 14 days on/14 days off as the optimal dosing schedule, which is consistent with our preclinical data supporting CFT7455 as a rationally designed IKZF1/3 degrader with the potential to offer a new therapy for patients with relapsed/refractory multiple myeloma.”
(NASDAQ:ADTX) Aditxt Inc. shares closed at $6.07 on Wednesday, which is off this week’s $9.50 high, following its definitive agreement announcement, when it was around $4 a share. The company still traded more than 1.91 million shares Wednesday, with the float still registering under 500K, and made an intraday move from a low $4.72 to a high of $6.38 locking in gains of more than 35% for some traders. The shares are still trading in the mid $5 in this morning’s premarket. Traders could see similar action today, as the early week shorts cover going into the weekend, while Nasdaq analysts from Dawson James, and H.C. Wainright have a “Strong Buy” consensus on the stock.
(NASDAQ:SYTA) Siyata Mobile shares have been consolidating in the $3 range since the company’s recent recapitalization and reorganization. The company’s paltry market cap is well under $2 million, but it’s generating more than 5X its market cap million in sales.
Siyata continues to grow and plans on releasing a new 5g product for 2024. More importantly, they changed their business model; in the past, they paid for the equipment out of pocket, which resulted in share price killing funding agreements, but now they have PO financing in place, which will take some of the burden off the shares moving forward. Additionally, its carrier partners are beginning to stock their products, which will help accelerate its growth trajectory.
(NASDAQ:SYTA) churned its float multiple times since the reverse and consistently announcing new, and increasingly larger, sales orders, which is one of the metrics that allowed management to state that they should bring the company to profitability in 2024. The price indicates resistance in the $4 level where it touched earlier this week, but beyond that the stock could hit new highs along with the major indexes going into the holidays.
All three of these have a high likelihood of seeing a short squeeze and, due to the aforementioned reasons, and more, the squeezes could be epic, so keep these on your trading screens for the next days or weeks.
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