As you can see on the chart below, it has been a choppy downtrend for the small cap biotech’s over the last 3 weeks of trading. We have fallen from over 100 on the XBI to just above 90. This looks to be nearing support and we are heading into a bunch of new catalysts very soon, so I expect this downward trend to start to change.
Labor day markets the beginning of September – and that’s when I really think things will get going. For the time being, trading continues to be very slow and I still think being careful is the best policy.
The positions I currently have are reflecting just that.
Reminder: Charts are updated every Sunday evening for the next week!
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Catalyst Swing Names (1-4 week holds) that I am watching
Checkpoint Therapeutics (CKPT)
Catalyst Dates: Phase 1/2 late breaking data due out September 24th
Buy Zone: $3.55 to $3.95
Profit Zone: $4.50 or higher
Stop Zone: $3.30 or below
Catalyst Dates: Phase 2 topline results due out October 19th
Buy Zone: $.87 to $.92
Profit Zone: $1.00 or higher
Stop Zone: $.85 or below
Catalyst Dates: Phase 3 interim analysis due out in October 2018.
Buy Zone: $1.35 to $1.55
Profit Zone: $1.80 or higher
Stop Zone: $1.15 or below
Mirati Therapeutics (MRTX)
Catalyst Dates: Phase 1 and Phase 2 data due out October 21 and 22.
Buy Zone: $55.00 to $58.00
Profit Zone: $65.00 or higher
Stop Zone: $50.50 or below
Adma Biologics (ADMA)
Catalyst Dates: FDA Approval date of October 25th 2018.
Buy Zone: $5.50 to $5.80
Profit Zone: $6.25 or higher
Stop Zone: $5.30 or below
Catalyst Dates: FDA Approval date of November 3, likely to have an
Advisory Committee meeting announce beforehand.
Buy Zone: $2.60 to $2.90
Profit Zone: $3.40 or higher
Stop Zone: $2.50 or below
Catalyst Dates: FDA approval date of October 5th. Earnings should be August 8th.
Buy Zone: $7.75 to $8.15
Profit Zone: $9.00 or higher
Stop Zone: $7.00 or below
Viking Therapeutics (VKTX)
Catalyst Dates: Phase 2 data due September 30th. Another Phase 2 data set due out likely in late 2018.
Buy Zone: $9.75 to $10.35
Profit Zone: $12.00 or higher
Stop Zone: $9.40 or below
Selecta Biosciences (SELB)
Catalyst Dates: Phase 2 data due out in October
Buy Zone: $12.00 to $13.00
Profit Zone: $16.00 or higher
Stop Zone: $11.50 or below
Catalyst Dates: FDA Approval date of November 2, likely to have an
Advisory Committee meeting announce beforehand
Buy Zone: $1.40 to $1.60
Profit Zone: $2.10 or higher
Stop Zone: $1.30 or below
[Ed.note: Kyle Dennis runs BiotechBreakouts.com. He is an event-based trader, who prefers low-priced and small-cap biotech stocks.