12 Jun

TapImmune Stock: Why It Spiked 84% Last Week

WRITTEN BY Daniel Collins FEATURED IN Company News, Insights, & Analysis

Stock performance

TapImmune (TPIV) stock saw an ~84.1% hike during the week of June 1–8. On June 8, it closed at $9, which was a 249% growth from its 52-week low of $2.58 on April 23. It was a ~51.3% growth from its previous close of $5.95 on June 7.

On June 5 and June 6, TPIV stock had consistent growth of ~11.3% and ~11.2%, respectively. It has risen ~202% over the last month.

TapImmune Stock: Why It Spiked 84% Last Week

Reason for the hike in the stock

On June 8, TapImmune entered into security purchase agreements with some institutional and accredited investors related to the private placement of its equity securities. New Enterprise Associates will lead the private placement along with participation from Aisling Capital and Perceptive Advisors.

TapImmune also announced that the private placement is anticipated to complete simultaneously with the closure of its proposed merger with Market Therapeutics, which was announced on May 15.

TapImmune will provide 17.5 million shares of its common stock at $4 per share at the closing of the private placement. TapImmune also noted that it would issue warrants to purchase ~13.1 million shares of the company’s common stock at $5 per share, which will be exercisable for five years from the date of issuance.

TapImmune is focused on developing new immunotherapies for cancer. It’s conducting various phase 2 and phase 1b/2 clinical trials for the treatment of ovarian and breast cancers.

Analysts’ recommendations for TapImmune and its peers

One analyst tracking TapImmune has recommended a “buy” rating in June. On June 11, TapImmune had a consensus 12-month target price of $5.50, which represents a ~33.8% decline over the next 12 months.

Of the 18 analysts tracking Incyte (INCY) in June, ~83% of them have recommended a “buy” for the stock. Of the 14 analysts tracking Seattle Genetics (SGEN), ~86% of them have recommended a “buy.” Of the 16 analysts tracking Alnylam Pharmaceuticals (ALNY), ~75% have recommended a “buy.”

On June 11, Incyte, Seattle Genetics, and Alnylam Pharmaceuticals had consensus 12-month target prices of $83.14, $67.33, and $148.19, respectively, which represent ~19.9%, ~0.88%, and 48.1% returns on investment, respectively, over the next 12 months.

Latest articles

Verizon Communications stock (VZ) closed down 2.09% on Tuesday after the leading US mobile carrier reported mixed results for the first quarter of 2019 before the market bell yesterday.

24 Apr

Nokia’s Patent Business Is Put On the Spot

WRITTEN BY Rachel Gunter

Several European auto companies want Nokia’s (NOK) patent business subjected to an antitrust probe.

The first-quarter semiconductor earnings season has begun, and the stock market is showing bullish sentiment as investors buy ahead of earnings releases.

Netflix (NFLX) is working its way through a series of price increases in several markets, including the United States and parts of Europe.

Netflix (NFLX) is aiming to add 14.6 million paying subscribers in the first six months of 2019.

Earlier today, the second-largest US automaker, Ford Motor Company (F), announced a plan to invest $500 million in Plymouth-based automotive company Rivian.