Top 3 Biotech Stocks To Watch April 2020

Happy to be writing a blog finally, hopefully everyone has been staying safe with this COVID-19 going around. These last few months have been rough for me in the markets, and have caused me to shut down. After reflecting and contemplating, I finally decided to pick up the laptop and start typing. Writing for you guys/gals is not only therapeutic for me, it is a hobby I enjoy, and I hope someone out there finds value in what I write or share.

Please be absolutely careful in this Market environment. It is still kind of surreal to me that the $SPY is even trading above $240 still.

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In case you have been living in under a rock, let me give a quick rundown on what the hell has been going on:

1. Yet another virus stemming from China causing a pandemic.
Coronavirus COVID-19 Global Cases by the Center for Systems Science and Engineering (CSSE) at Johns Hopkins University (JHU) link here.

Fun fact: China hoarded all medical supplies but is playing hero now.

I found this great blog titled "China's Playbook For Deflecting Coronavirus Blame Onto The U.S. Could Be Working Exactly As Planned" by Quoth The Raven Research, give it a read here.

2. The double whammy: The Saudis and Russians decided to boost output to flood our oil markets. Now, I am no conspiracy theorist, but this is almost starting to look like a coordinated attack against the U.S.A.

3. This week POTUS did attempt to bring some life to the oil sector... only to fail miserably because The Saudis and Russians are not coming to terms.
The virtual meeting between OPEC and its allies scheduled for Monday has been postponed. Sources familiar with the matter told CNBC, as tensions between Saudi Arabia and Russia mount. via CNBC.

4. US and Canada discuss putting tariffs on Saudi and Russian oil via Financial Times.

Alright!!! Without further ado let's cover some bio-tech stocks that are worth keeping on your radar. Due to the market conditions, a lot of these small bios are not running like they normally would in a bull market. From what I have been analyzing day in and day out, 9/10 they gap and crap. Gap and crap meaning they gap on news, and almost instantly sell off in under 10 minutes.

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1. Viking Therapeutics ($VKTX)
Catalyst: Phase 2 additional data to be presented at EASL April 17, 2020.
Information from Yahoo Finance.

Daily: 50/50 leaning more towards bearish during these market conditions.

1H Chart:
What has my attention is the solid support at $4.30 - a break below, not worth touching unless shorting is your thing.
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2.  Myovant Sciences Ltd. ($MYOV)

Recent headline: Myovant Sciences and Gedeon Richter Enter into Exclusive License Agreement to Commercialize Relugolix Combination Tablet for Uterine Fibroids and Endometriosis in Certain Territories Outside the U.S.

  • * Myovant to receive an upfront payment of $40
    million, up to $147.5 million in regulatory and sales milestones, and tiered royalties on net sale, via GlobalNewsWire.

  • Catalysts:
    To cause an upward move, the company will need the FDA OK on their NDA filing. I am not positive if there is a market for something like relugolix. Some brief reading into their recent 10Q, the data provided sounds promising, but  it is up to the FDA to approve.

    From Q3'20 10-Q: "On February 10, 2020, we announced positive one-year safety and efficacy data from the Phase 3 LIBERTY open-label extension study, including an 87.7% response rate on the primary endpoint, an 89.9% mean reduction in menstrual loss from baseline to one year, and maintenance of one-year bone mineral density consistent with the 6-month LIBERTY 1 and 2 results."
    Some stats:
    Low floater and 58% Held by Insiders. I like this one very much, if I didn't already start off with $VKTX I would like this one at #1.

    Daily:

    Hourly:

    I actually like how this one has been trading. It has shown strong support in the 6-7 area with $8-$8.65 being resistance.

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    3. Scynexis, Inc. ($SCYX)



    Catalyst: Whenever they feel like squeezing shorts.

    Daily:

    Hourly:


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    DISCLAIMER: Please note that I do not ask for any information. I always encourage people to trade ONLY what you understand and never based on anyone's opinion. My posts are for educational purposes only. The stock market is known to make people bag holders, get a head of the whales and always do your DUE DILIGENCE!

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