Stock Market Watch: #FAB #SCLP #GUN #SKIN #SYME #VAL

This post was written by Zak Mir, a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator

On a day when stock market winners of any kind were few and far between, it was inventory monetisation specialist, Supply@Me Capital (SYME) which was one of the highest climbers. Indeed, given the 3 percent fall in the FTSE 100, one would imagine that on a normal day the 25% share price rise to 0.6p may have been significantly greater. The reason for the move on the stock was the revelation of an €8bn funding support over 5 years to Supply@Me’s funding platform, with this funding to be delivered across all of the company’s international operations, and the bank co-investing in securitisation notes with institutional investors.

Mining sector investor Gunsynd (GUN) managed to buck the trend on a day when most stocks in the market were down 5-10%, with a 12% gain to close at 1.32p – a 10 months high. The inspiration for the continuing rally in the shares was the announcement of a further investment in Eagle Mountain, an ASX listed copper-gold play. Gunsynd bought another £75,000 of stock in the market of the Arizona focused explorer, taking its holding up to 1.54%. Gunsynd’s average in the stock is now 15.5c, versus a 0.28c close.

With the prospect of a fresh COVID-19 related curfews and lockdowns to cover the Government’s handling of the economy, pharma stocks were back in the ascendency, once again whether their fortunes are directly related to the pandemic or not. However, Valirx (VAL) resumed its recent run of form with a 14% gain to 27.75p. This comes after the company netted £158,000 last week off the back of an exercise of warrants, and following the half year report from the clinical stage cancer therapeutic development earlier this month. Investors continue to chase news regarding the progress of potential new treatments.

Scancell (SCLP) was also on the front foot, posting a 17% rise to 15p. Here the company, which has been involved in the battle against cancer via its Immunobody cancer vaccine SCIB1, joined the battle against COVID-19 in April this year, via its DNA vaccine which is designed to attack the SARS-CoV-2 protein spike receptor. Recently SCIB1 entered a phase II clinical trial and Scancell received funds from Innovate UK to help it develop a COVID-19 vaccine.

Integumen (SKIN) shares were up 9%, as the re-rate for the company which tests skincare and cosmetics via AI methods, continues following its move into the testing of water for coronavirus. The latter has been cemented via the recent acquisition of Modern Water (MWG), a deal which has been well received by the market.

Pre-clinical antibody discovery group Fusion Antibodies (FAB) continued its recent run of form in the wake of last week’s update on its R&D programme. In it the company said progress had been made with regard to Coronavirus spike proteins, with the edge being that Fusion antigens are able to confirm recent past infections – something particularly useful in determining transmission and fatality rates with regard to the pandemic. Shares of Fusion Antibodies were up 8% to a fresh closing high for 2020.

Disclaimer
Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.

 

Zak Mir

Zak Mir

About Me

Zak Mir is a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator. Zak presents the daily Bulletin Board Heroes which can be seen here at Share Talk

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