Today's Top 5 Overvalued Stocks

By taking advantage of timing, you can position yourself for a massive windfall or avoid potential losses. Today we look at the top 5 overvalued stocks that analysts expect to drop in price.

By clicking the link above you will automatically opt-in to receive emails from ActivaTrade

Cathie Wood's Ark Invest Snaps Up $3.54M Worth Of Shares In This Biopharma Company Following Positive Obesity Pipeline Update

Shanthi Rexaline
May 06, 2024

Cathie Wood-run Ark Invest on Friday picked up shares of a biopharma company after it revealed significant progress with its weight-loss drug candidate.

What Happened: Ark, through its ARK Genomic Revolution ETF (CBOE: ARKG), bought 11,360 shares of Amgen, Inc. (NASDAQ:AMGN), which rallied nearly 12% on Friday. The purchase would have been worth $3.54 million.

Following Friday’s purchase, Amgen’s weighting in ARKG stood at 1.06%, attributed to the 51,712 shares held by the exchange-traded fund.

See Also: Best ETFs To Buy Right Now

Why It’s Important: Amgen reported a double beat Thursday after the market close and offered an update on its obesity drug pipeline. While pulling the plug on an early-stage oral obesity drug, codenamed “AMG 786,” the company said it was “differentially investing” in MariTide and a number of preclinical assets.

MariTide, formerly AMG 133, is an injectable form of a drug targeting two gut hormones — gastric inhibitory polypeptide receptor, or GIP, and glucagon-like peptide 1, or GLP-1. It is currently being evaluated in a Phase 2 obesity trial.

“We're seeing a differentiated profile of MariTide and are confident that it will address important unmet medical needs, obesity, obesity-related conditions, and diabetes,” said Chief Scientific Officer Jay Bradner.

The top-line 52-week data from the 11-arm Phase 2 study is on track for a readout in late 2024, the company said.

The weight-loss drug market is estimated at a staggering $100 billion, with Novo Nordisk and Eli Lilly currently dominating the segment.

ARKG closed Friday’s session up 3.51% at $25.04, according to Benzinga Pro data.

Read Next: Cathie Wood’s Ark Goes Chip-Stock Shopping Ahead Of AMD Earnings, Adds More Of Warren Buffett-Backed Chinese EV Play

Photo: Shutterstock

Continue Reading...

Popular

8 Large Cap Stocks That Outperformed Nvidia Over The Past Year

Nvidia surged 217.58% over the past year, 173.78% year-to-date. Here are eight large-cap stocks that outperformed it this past year.

TikTok Tunes? Social Media Platform Has A Music M&A Team In The Works

TikTok has plans for a new Music Content Investment Team focused on global rights acquisitions and partnerships.

A Dark Economic Force Is Coming... - Ad

This force is more powerful than the Fed, the IMF, the World Bank, and BlackRock combined -- and it's coming for your money in 2024. Take these three steps to protect your wealth now.

Elon Musk's Chilling Warning for Humanity - Ad

Elon Musk warned that humanity will soon be 'obsolete.' Every port, railroad, highway, and airport in America is facilitating a kind of 'invasion' that will bring about centuries worth of change in the next few years. If Elon and the research are correct -- the results could be devastating for the average American.

Following Trump's Guilty Verdict, Legal Experts Say He Could Face This Punishment Instead Of Prison Time

Ahead of his sentencing, former President Donald Trump may be looking at community service after being found guilty of falsifying business records.

Where Buffett, Gates, and Bezos Are Investing Now - Ad

Billionaires are plowing millions of dollars into a new technology that early estimates say could generate more wealth than A.I. -- and determine the future of companies like Microsoft. The problem? Most investors have no idea it's happening, or how to profit on it. This expert just went public with all the details, including which stocks to jump on immediately.

Nvidia 10-for-1 stock split goes into effect after stock price for the chipmaker doubled this year

Nvidia's 10-for-1 stock split goes into effect on Monday, giving investors nine additional shares for every one that they already own.

From Nvidia's Stock Split, Intel's Revitalized AI Strategy To Tesla's Chip Saga: This Week In The World Of AI

Industry giants Nvidia and Intel made major moves this week, including a 10-for-1 stock split and new AI chips. Foxconn also predicts AI server sales surge.

A Silent Invasion of America - Ad

America's southern border is in chaos, but a more alarming invasion is occurring nationwide. This unprecedented event will reshape the country dramatically, equating to 300 years of change in just 24 months. I've discovered startling facts that every American must know before it's too late.

Discover "U.S.'s New Money" Before Biden Wins - Ad

A new form of money has emerged in America, and it's making some folks wildly rich... (Musk and Bezos both use it). Find out how you can too in this free video.

Micro communities for the homeless sprout in US cities eager for small, quick and cheap solutions

ATLANTA (AP) — In a dreary part of downtown Atlanta, shipping containers have been transformed into an oasis for dozens of previously unsheltered people who now proudly call a former parking lot home.

Amazon invests $1.4 billion for affordable housing options in regions where it has corporate offices

NEW YORK (AP) — Amazon is adding $1.4 billion to a fund it established three years ago for preserving or building more in regions where the company has major corporate offices, CEO Andy Jassy announced Tuesday.

Don't Buy Bullion or Mining Stocks. Do THIS Instead - Ad

As gold continues to break all-time highs, many folks will run out and buy bullion or mining stocks. That's not the best way to ride this gold bull market higher. Note, this showed a 995% gain the last time we shared this same investment idea.

Biden Administration Tightens Vehicle Fuel Mile Limits To Boost Electric Vehicle Market

The Biden administration has stiffened vehicle fuel mile standards as part of its plan to have emissions-free electric vehicles dominate America's automobile sector.

How These 2 Nasdaq-Listed Marijuana Companies Found A Way To Raise $250M Without Tanking Their Stock

This week's Viridian Valuation Tracker investigates the valuation metrics of Canadian cultivation and retail companies with market caps over $100M.

This Election Shocker Could Be Worse Than Trump's Conviction - Ad

Former advisor to the CIA, the Pentagon and the White House Jim Rickards just dropped this Trump election bombshell. For the sake of our country...I hope he's wrong. Because if he's right, you need to prepare now.

Does 'Sell In May And Go Away' Work For Bitcoin? This Researcher Crunched The Numbers

Crypto researcher TradeTheFlow challenged the prevailing notion that summer is a dull period for cryptocurrency markets, particularly Bitcoin (CRYPTO:

5 Wall Street Legends Just Bought This One Stock - Ad

"If you're not at the table, you're on the menu," says former Goldman Sachs VP, Dr. David Eifrig.

Disneyland employee dies after falling from moving golf cart in theme park backstage

ANAHEIM, Calif. (AP) — A Disneyland employee died after she fell from a moving golf cart in the backstage area of the Southern California theme park, authorities said Saturday.

What's the #1 Stock to Build Generational Wealth Right Now? - Ad

One Wall Street millionaire will give you a surprising answer. He bought AAPL at $0.35 and AMZN under $2.50. Recently, he sat down for an exclusive interview, revealing EXACTLY where to put your money this year. An investment vehicle he's so confident in, he says he'd put 50% of his kids' inheritance into this stock.

Southwest Airlines CEO says he won't resign. A hedge fund is trying to get him fired

DALLAS (AP) — The CEO of said Wednesday he will not resign in the face of pressure from that wants him fired and that his leadership team will produce its own plan to boost the airline's .

Missile attacks by Yemen's Houthi rebels strike 2 ships in the Gulf of Aden, US military says

MANAMA, Bahrain (AP) — Missile attacks by Yemen's Houthi rebels struck two ships in the Gulf of Aden, authorities said Sunday, the latest assaults on shipping in the region.

AI Giant To Close the AI "Wealth Window' June 25? - Ad

On June 25, AI Giants will reveal "AI 2.0" to major tech executives, marking a pivotal moment in investing. This next-gen AI promises to transform lives and create a $15.7 trillion global market by 2030. This brief opportunity exists for early investors to capitalize on small breakthrough companies before this wealth window closes.

Bitcoin Plummets To $67K And 'This Move Isn't Over,' Warns Analyst

Bitcoin (CRYPTO: BTC) prices fell sharply during the Asian trading session today, dipping below $67,000 and raising concerns about a potential reversal in the recent

Ship attacked by Yemen's Houthi rebels was full of grain bound for Iran, the group's main benefactor

DUBAI, United Arab Emirates (AP) — A Greek-owned, Marshall Islands-flagged bulk carrier that came under attack by earlier this week had a cargo of grain bound for Iran, the group's main benefactor, authorities said Thursday.

The 7th Trillion Dollar Company? - Ad

There are six American companies worth over $1 trillion. Could there be a seventh soon? This company signed a massive deal with Apple until 2040 and is also involved with Nvidia, Google, and Samsung. Could this be the next trillion-dollar company? A top stock expertpicker thinks so.

Norwegian wealth fund to vote against Elon Musk's Tesla pay package

Norway's sovereign wealth fund operated by Norges Bank Investment Management said Saturday it will vote against Elon Musk's hefty CEO compensation package during Tesla's annual meeting on Thursday.

Toyota's Certification Crisis Extends Beyond Japan, Could Impact EU Operations

Toyota Motor Corp. faces severe implications worldwide after discrepancies in vehicle certifications breach United Nations standards, impacting operations across 62 countries including the EU.

Elon's New A.I. Device is About to Shock the World - Ad

Using this device you see... Elon Musk just tested a new type of A.I. that according to Wired Magazine will usher in... "The next step in human evolution."

Dollar Tree left lead-tainted applesauce pouches on store shelves for weeks after recall, FDA says

Dollar Tree failed to effectively recall lead-tainted applesauce pouches linked to reports of illness in more than 500 children, leaving the products on some stores shelves for two months, the Food and Drug Administration said Tuesday.

XPeng's Flying Car Takes Off In China, Aims For Commercialization By End Of The Year

China's XPeng Inc. successfully showed off its flying car, the X2, at a trade fair, signaling a push towards commercialization in the low-altitude economy.

One Billionaire's Genius Plan to Save the US Dollar From Collapse? - Ad

If you're holding any US dollars, you need to see what this tech titan is up to now... This could be the biggest change to our financial system since the creation of the Federal Reserve in 1913. Hurry... He has said he could flip the switch "as early as mid 2024."

Boil-water advisory lifted in Atlanta after water system problems

ATLANTA (AP) — Residents in Atlanta no longer must boil water before drinking it, officials said Thursday, six days after a west of downtown affected service and spurred the advisory.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service