Septerna (SEPN) began trading on the Nasdaq on Fri 25 Oct 24

Septerna, Inc., a clinical-stage biotechnology company, discovers and develops G protein-coupled receptor (GPCR) oral small molecule products candidates for the treatment of endocrinology, immunology and inflammation, and metabolic diseases. 

Septerna was formerly known as GPCR NewCo, Inc. and changed its name to Septerna Inc. in June 2021.

• Sector(s): Healthcare
• Industry: Biotechnology
• Full Time Employees: 68
• Incorporated in 2019 
• Headquartered in South San Francisco, California
• https://septerna.com

Septerna opened at $23.50 after pricing 16.0 mln share IPO at $18/share, above the $15-17 expected range

Septerna, a clinical-stage pharmaceutical company with an initial focus on rare endocrine diseases, draws strong interest for its IPO

• After pricing its upsized 16.0 mln share IPO at $18, above the $15-$17 expected price range, Septerna (SEPN) opened for trading at $23.50, good for a 31% opening gain. 
• The company has developed a proprietary "Native Complex Platform" that it believes will usher in a new era of G protein-coupled receptor (GPCR) oral small molecule drug discovery. GPCRs are a family of cell membrane receptors that regulate physiological processes in nearly every organ system in the human body.
• Its lead product candidate is SEP-876, which is currently in Phase 1 studies and being evaluated for the treatment of Hypoparathyroidism -- a rare endocrine disease characterized by insufficient levels of parathyroid hormone that affects approximately 70,000 patients in the United States. The company expects to report data on the trial in mid-2025.
• Including the proceeds from this offering, SEPN has approximately $400.0 mln in cash and cash equivalents. SEPN believes that it will have enough capital to fund its operations and clinical trials into 2H27.

Allegro MicroSystems (ALGM) : 4-year performance

Allegro MicroSystems, Inc. designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems.

• Sector(s): Technology
• Industry: Semiconductors
• Full Time Employees: 4,593
• Founded in 1990 
• Headquartered in Manchester, New Hampshire
• https://www.allegromicro.com/en

Priced 25,000,000 shares of its common stock at $14.00 per share.

Ticker: ALGM

Nasdaq 100 on pace for best January since 1999

 The Nasdaq 100 Stock Index is on pace for its best January since 1999 despite warning signs from the likes of Microsoft Corp. and Intel Corp. and another expected interest-rate hike from the Federal Reserve. The Cboe Volatility Index sank within striking distance of a 10-month low on Friday, signalling less angst in the market. Meanwhile, options trading on megacaps last week showed demand hasn’t jumped for protection against a selloff.

(live chart)

Market update: S&P 500 dips below 3,800 Dow dips below 33,000 (28 Dec 22)

 S&P 500 dips below 3,800

Dow dips below 33,000

Nasdaq dips below 10,300 

 

 (live)

 

($INDU live,  $COMPQ live)

Market update (31 January 20)

The stock market sold off to end the week, and month, on growing concerns about the coronavirus and the negative effect it could have on economic growth.  

The coronavirus angst was exacerbated by increasing reports of worldwide cases; Delta Air Lines (DAL), United Airlines (UAL), and American Airlines (AAL) suspending U.S.-China flights; and the White House declaring a public health emergency in addition to announcing some travel restrictions. 

 

Fri, Jan 31, 20

Worried by the mounting death toll from the coronavirus and drastic efforts to contain it, investors dashed for the exits,

coronavirus-related stocks on Fri Jan 31, 20

S&P 500, 14 months

YTD

Nasdaq Composite +2.0% 

S&P 500 -0.2%  

Dow Jones Industrial Average -1.0%  

Russell 2000 -3.3%  

GSG commodity index, renko chart

 

The Economist cover; sold out masks at CVS

Latest coronavirus news:  

- Chinese authorities have reported more than 350 fatalities

- China has banned burials or funerals for virus victims

- There are over 14,000 confirmed cases worldwide

- Hong Kong, Japan, Singapore, UAE and the US have confirmed more infections

- The outbreak has reached more than two dozen countries and regions globally

- Several countries are halting flights to and from China

- WHO declared the virus was a public health emergency of international concern

Market update: Trade slams stocks as Fed takes wait-and-see stance (23 August 2019)

Nasdaq Composite +16.8% YTD
S&P 500 +13.6% YTD
Dow Jones Industrial Average +9.9% YTD
Russell 2000 +8.2% YTD

The stock market sold off on Friday after President Trump ordered companies to find an alternative to China in response to Beijing announcing retaliatory tariffs against the U.S. The S&P 500 (-2.6%), Dow Jones Industrial Average (-2.4%) , the Nasdaq Composite (-3.0%) and Russell 2000 (-3.1%).

Worries about trade tensions with China following a combative tweet earlier in the day from President Trump, who was squawking back at China for its tariff announcement this morning and "ordering" U.S. companies to find alternatives to China, have catalyzed today's sell-off.

The day started with investors looking forward to Fed Chair Powell's speech from Jackson Hole, Wyoming. Attention quickly shifted to trade, however, after China announced tariffs on $75 billion of goods imported from the U.S on Sept. 1 and Dec. 15, which are the same dates the U.S. has planned for its tariffs on China. The tariff rate will range from 5-10%, including a separate 5-25% on autos and auto parts starting Dec. 15.

Modest selling ensued, but stocks quickly recouped losses after Mr. Powell reiterated comments that upheld the market's view for further economic stimulus. The day had barely begun, though, and President Trump took to Twitter to lash out against both the Fed Chair and China. Stocks fell noticeably on the president's declaration that companies find alternatives to China.

Amid the uncertainty and growth concerns, investors flocked to safe-haven assets like gold ($1537.25/oz, +$28.75, +1.9%), the Japanese yen, and U.S. Treasuries. In addition, expectations for further downside in equities contributed to a 17.8% spike in the CBOE Volatility Index (19.65, +2.97).

The 2-yr yield dropped seven basis points to 1.53%, and the 10-yr yield dropped eight basis points to 1.53%. The U.S. Dollar Index fell 0.5% to 97.73. WTI crude fell 2.0%, or $1.12, to $54.16/bbl.

President Trump also indicated he would officially respond to Beijing's actions in the afternoon. No response was announced by session's close, which may have contributed to some reservations to step into the action during the day.

U.S. Treasuries ended the week on a sharply higher note.
Yield Check:

• 2-yr: -7 bps to 1.53%
• 3-yr: -8 bps to 1.45%
• 5-yr: -8 bps to 1.41%
• 10-yr: -8 bps to 1.53%
• 30-yr: -8 bps to 2.03%

Commodities:

• WTI crude: -2.0% to $54.16/bbl
• Gold: +1.9% to $1537.50/ozt
• Copper: -1.2% to $2.53/lb

Currencies:

• EUR/USD: +0.6% to 1.1146
• GBP/USD: +0.3% to 1.2288
• USD/CNH: +0.6% to 7.1337
• USD/JPY: -1.0% to 105.31

Market outlook : 6 Oct 2017 - NASDAQ 100 ($NDX)

The bullish ascending triangle pattern has cleared on the NDX:

Momentum is just beginning to accelerate from its launch near centerline support.  The top of the triangle is at 6000 and the initial low in the pattern was approximately 5750.  That difference, 250 points, is the measurement, which is added to the breakout level at 6000 to establish an initial target of 6250.  Expect to see that rather quickly.  To the downside, the two key support levels will now be the breakout level and rising 20 day EMA at 6000 and 5962, respectively.  Look to those levels to hold and for buyers to re-emerge during any short-term period of selling.

Market outlook : 9 Jan 2015 - NASDAQ 10-year weekly chart

Market outlook : 7 Dec 2014 - NASDAQ 10-year weekly chart

Market outlook : 7 Nov 2014 - NASDAQ 10-year weekly chart

Market outlook : 5 Oct 2014 - NASDAQ 10-year weekly chart

Market outlook : 7 Sept 2014 - NASDAQ 10-year weekly chart

Market outlook : 4 Oct 2013 - NASDAQ 10-year weekly chart

Market outlook : 3 May 2013 - NASDAQ 10-year weekly chart