Stocks Bucking Market Trend: GRUB, HGEN, CLLS
2:20 pm Friday, March 11th, 2022
Just Eat Takeaway.com (NASDAQ:GRUB) advanced 20% on a report that the food delivery company is the subject of takeover speculation. There is speculation that the GRUB may be looking at its strategic options with an investment banker, according to a Betaville “uncooked” alert. The food delivery firm may have attracted interest from private equity. Some people following the matter suggested Uber (NYSE:UBER) may be around the situation. The takeover speculation comes after a Bloomberg report in January that the company’s management may be open to a sale of Grubhub, the U.S. segment of the company. The company has also seen pressure from at least one holder, Cat Rock Capital, which urged the company in late October to explore options for the Grubhub business.
The shares of clinical-stage biotech, Humanigen (HGEN), have added more than a fifth on Friday to record the biggest intraday gain since March 2021, after the company’s Chief Scientific Officer, Dale Chappell, disclosed a series of insider purchases. In a regulatory filing on Thursday, Chappell announced the purchase of call options this week, which will grant the right to buy several hundred thousands of company shares. Early this month, Humanigen (NASDAQ:HGEN) witnessed a four-day rally after the Chief Executive Cameron Durrant disclosed over twofold rise in his equity stake to 70,000 company shares.
French clinical-stage biotechnological company, Cellectis (CLLS) is trading higher for the fourth consecutive session on Friday as the market reacts to the Fast Track designation granted by the U.S. Food and Drug Administration (FDA) for its partner Allogene Therapeutics (NASDAQ:ALLO). Allogene (ALLO) shares surged on Thursday after the company announced that the FDA issued the designation for ALLO-316, its first AlloCAR T solid tumor candidate for the treatment of patients with a certain type of renal cell carcinoma (RCC).
