The pre-market is a time before the regular market session when trading activity takes place. Generally, pre-market trading occurs between 8:00 a.m. and 9:30 a.m. Eastern Standard Time (EST). In anticipation of the regular trading session, investors and traders watch the pre-market activity to gauge the strength and direction of the market.
Because there is so little volume in the market before 8 a.m. EST, trading so early offers little benefit. The fact that the bid-ask spreads can be exceedingly wide can make it quite risky. Most brokers begin pre-market access at 8:00 a.m. EST. Volume spikes at this moment across the board, especially for stocks showing a gap up or down based on news or rumors. It is especially tricky for traders to interpret pre-market indications for a stock, and they should only be taken lightly. Pre-market stock prices can appear strong, but then retrace their path at the opening of the normal market at 9:30 am EST. Pre-market trading should only be attempted by experienced traders.
A benefit of pre-market trading is that you can get an early insight into reactions to news releases. When the market opens, however, the real volume comes into play, and the perception of strength or weakness becomes deceptive and false.
Endo International plc (ENDP)
Endo International plc (ENDP) shares were rising 10.29% to trade at $0.3131 in pre-market at last check. ENDP’s stock lost -23.27% to close Wednesday’s session at $0.28. The stock volume remained 237.4 million shares, which was higher than the average daily volume of 64.28 million shares within the past 50 days. ENDP shares have fallen by -92.49% over the last 12 months, and they have moved down by -34.37% in the past week. Over the past three months, the stock has lost -75.53%, while over the past six months, it has shed -91.42%. Further, the company has a current market of $71.71 million and its outstanding shares stood at 235.12 million.
Piper Sandler rated the Endo International plc (NASDAQ: ENDP) stock “an Underweight”, with the firm’s price target at $3-$1. Piper Sandler’s estimates were contained in a research note released on Friday, May 06, 2022. Several other experts on Wall Street have posted such reports regarding the ENDP shares. According to Barclays, the stock is “an Underweight,”$2. Barclays published their figures in a research note released to investors on Wednesday, March 02, 2022. Other experts at Piper Sandler have the stock’s price target at $3 price; with their rating of the stock is “a Neutral.”. These scores were published in a research note the firm released on Tuesday, August 31, 2021.
Plus Therapeutics Inc. (PSTV)
Plus Therapeutics Inc. (PSTV) has advanced 96.01% at $1.08 in pre-market trading hours on the last check Thursday. The stock of PSTV gained 2.45% to complete the last trading session at $0.55. The price range of the company’s shares was between $0.5001 and $0.5795. It traded 22.56 million shares, which was above its daily average of 1.08 million shares over 100 days. PSTV’s shares have gained by 2.04% in the last five days, while they have added 11.09% in the last month. Further, it is currently trading at a price-to-book ratio of 1.28.
OTTER CREEK ADVISORS LLC bought a fresh place in Plus Therapeutics Inc. (NASDAQ: PSTV). The institutional investor bought 246.3 thousand shares of the stock in a transaction that took place on 6/30/2022. In another most recent transaction, which was held on 6/30/2022, RENAISSANCE TECHNOLOGIES LLC bought approximately 33.7 thousand shares of Plus Therapeutics Inc. In a separate transaction that took place on 6/30/2022, the institutional investor, GREAT VALLEY ADVISOR GROUP, INC. bought 33.6 thousand shares of the company’s stock. The total Institutional investors and hedge funds own 15.70% of the company’s stock.
Corbus Pharmaceuticals Holdings Inc. (CRBP)
At last check in pre-market trading, shares of Corbus Pharmaceuticals Holdings Inc. (CRBP) were up 9.93% at $0.2358. CRBP’s stock closed the last session at $0.21, decreasing -12.09% or -$0.03. Shares of the company fluctuated between $0.2145 and $0.26 throughout the day. The number of shares exchanged was 7.91 million, greater than the company’s 50-day daily volume of 0.82 million and higher than its Year-to-date volume of 1.22 million. In the past 12 months, the company’s stock has advanced by -82.56%, and in the last week, the stock has moved down by -15.92%. For the last six months, the stock has lost a total of -45.97%, and over the last three months, the stock has decreased by -27.58%. The stock has returned -65.16% so far this year.
Corbus Pharmaceuticals Holdings Inc. (CRBP) has a 20-day trading average at $0.2600 and the current price is -83.75% off the 52-week high compared with a 3.12% distance from its 52-week low. The 50-day simple moving average of the closing price is $0.2707, and its 200-day simple moving average is $0.4629. If we look at the stock’s price movements over the week, volatility stands at 11.64%, which decreases to 8.62% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 29.81 to suggest the stock is oversold.
bluebird bio Inc. (BLUE)
bluebird bio Inc. (BLUE) shares have gained 12.39% at $7.62 in Thursday’s premarket session. bluebird bio Inc.’s stock added 3.04% to finish the last trading session at $6.78. The stock recorded a trading volume of 28.38 million shares, which is below the average daily trading volume published for the last 50 days of 10.19 million shares. The shares of bluebird bio Inc. have retreated 14.33% in the last five days; however, they have gained 41.54% over the last month. The stock price has surged 89.92% over the last three months and has lost -43.29 percent so far this year. Additionally, it has a price-to-sales ratio that stands at 80.48.
Multiple groups of Wall Street analysts have recently been drawn to the BLUE stock, with those at Barclays Upgrade the stock to “an Equal-weight”. The analysts released their assessment via a research note they published on August 05, 2022. Analysts at Raymond James maintained their earlier rating, although they did raise the stock’s price target to $8. Over at Cowen, the analysts restated the earlier stance about bluebird bio Inc. shares, rating the shares “a Market perform.” in a note released on April 06, 2022.
Codiak BioSciences Inc. (CDAK)
Codiak BioSciences Inc. (CDAK) is rising on the charts today, up 31.60% to trade at $3.04 at last check in premarket trading. On Wednesday, shares in Codiak BioSciences Inc. rise 0.43% to close the day at $2.31. The volume of shares traded was 0.12 million, which is lower than the average volume over the last three months of 162.31K. During the trading session, the stock oscillated between $2.21 and $2.39. The company had an earnings per share ratio of -0.89. CDAK’s stock has lost -3.35% of its value in the previous five sessions and -13.16% over the past month but has lost -79.26% on a year-to-date basis. The stock’s 50-day moving average of $2.84 is above the 200-day moving average of $6.34. Moreover, the stock is currently trading at an RSI of 40.95.
Looking at the overall sentiment about this stock we find that the community has adopted a bullish outlook, a sentiment shared by analysts offering their price forecasts for the stock for the next 12 months. 4 analysts have given Codiak BioSciences Inc. (CDAK) a consensus price target of $8.00, which is noticeably above its current trading value. The analysts estimate the stock will hit a 12-month high of $9.00, while a downturn for the stock is likely to see it drop to a low of $6.00. When we calculate the distance from the median price, we find that the stock will move 74.33% from its price at the previous close to touch the estimated average price. An upside towards the 12-month high will see the stock climb 74.33%, while a decline to the 12-month low will see the stock lose 61.5 of its current value.