I'll start this off with I have 0 positions in this company - only came across the ticker doing intra-day scans. I'll start with the most recent huge volume - peeped the news - apparently homeguy H.C Wainwright gives a $120 price target. Was trading $38.70 day before so I'm thinking this mf (since it's a biotech) got FDA approval on high blood pressure treatment or just something big - was nonetheless something about sickle-cell disease, a next step outlook in their clinical trial, yada yada. Mentions FDA but, if it's not approval then it's a risk factor. Regardless, needed to check fundamentals & most recent ER and o.h m.y f.u.c.k.i.n.g like, $TSLA's financials are bad, I know, but in defense, it has a product that I'm sure even bears have/still do admire. If you get over the literal $0 in revenue, the $450 cash equivalents w/ a current ratio of 23.xx & a ROE of -25%. PPE is 2% of all assets (which is mostly cash) - & with a deficit, there's 0 way of calculating a ROA that isn't below 0% (-20% give or take). Before I dig on the company, lets look @ H.C Wainwright. (hcwco.com/transactions/) <- Investment banker, specializes in biotech companies looking for R&D funding, grants, etc., 90% of his 'transactions' are offerings of companies common stock priced below $10. I'd say about 55% are priced less than $5. So after taking a look @ a few - this obviously isn't the first time he's done this (common offering, raises target price, price plummets). Few examples: $RSLS (Check out), $GEVO, $ARPO, $MRTX (Check out), etc., Last part of the story - listened to earnings webcast for $GBT - mainly like 5 minutes of just the Q&A since they released whatever info about their Sickle-cell treatment/clinical trial/outlook right before homeguy plants a target price of 315% above where it was trading. Direct quote:
*Talking about 10% of sickle-cell population that has severe anemic symptoms & how their treatment wouldn't apply to those patients
“anemia patients, SF s beta 0 & some severe SC, those would come up front; the dr would likely not start with this drug in the more, you know the.. unusual variance that make up 10% of the population until it was finished- you know-til they had more data-til-or but, eh-you know-eh that’s how I see it” (40:30 - 41:35)
ir.gbt.com/phoenix.zhtml?c=254105&a... <- Webcast link
*Talking about 10% of sickle-cell population that has severe anemic symptoms & how their treatment wouldn't apply to those patients
“anemia patients, SF s beta 0 & some severe SC, those would come up front; the dr would likely not start with this drug in the more, you know the.. unusual variance that make up 10% of the population until it was finished- you know-til they had more data-til-or but, eh-you know-eh that’s how I see it” (40:30 - 41:35)
ir.gbt.com/phoenix.zhtml?c=254105&a... <- Webcast link
Comment:
Damn Ima start having to spell out everything lol smh