Arbutus Biopharma Corp (NASDAQ:ABUS), which we put out as a swing trade when it broke out, held up very nicely. On Wednesday, it was up another 1.55, or 17%, to 10.60, on 1.7 million shares. It reached our first target, and the second target is up around the 11 3/4-12 range, which may happen as early as Thursday.
Cara Therapeutic (NASDAQ:CARA) popped 80 cents, or 3.86%, to 21.52, on 1.2 million shares on Wednesday. After the channel broke down, and then it went sideways for about a year, it popped, wedged, popped, wedged, popped and wedged again. I think if this stock gets through the spike high at 22.29, it will be heading toward 28.
Endocyte Inc (NASDAQ:ECYT) had another up-day on Wednesday, with a little pop of 29 cents, or 2%, to 16.75, on 521,889 shares traded. I like the look of this stock with the rising wedge or flag. The target going forward on this one is 18-19. There’s much more potentially down the road.
HUYA Inc (NYSE:HUYA) exploded, pulled back, and reversed on Wednesday, jumping 4.39, or 14%, to 36.47, on 16 million shares traded. We like the overall structure. I put a swing on it earlier on Wednesday at 34.40, 4 points off the low. I’m looking for a follow-through to get this to 39 as early as Thursday morning, Maybe even the 40 range.
Stocks on the long side included Arbutus Biopharma Corporation (ABUS), AC Immune SA (ACIU), AXT, Inc. (AXTI), Biocept, Inc. (BIOC), Cara Therapeutics, Inc. (CARA), Endocyte, Inc. (ECYT), HUYA Inc. (HUYA), Myriad Genetics, Inc. (MYGN), OPKO Health, Inc. (OPK), and Tandem Diabetes Care, Inc. (TNDM).
On the short side, stocks included American Airlines Group Inc. (AAL), Advanced Energy Industries, Inc. (AEIS), Arch Coal, Inc. (ARCH), Bitauto Holdings Limited (BITA), Daqo New Energy Corp. (DQ), Itron, Inc. (ITRI), 3M Company (NYSE:MMM), Raytheon Company (NYSE:RTN), SMART Global Holdings, Inc. (SGH), SINA Corporation (SINA), Tailored Brands, Inc. (TLRD), Ultra Clean Holdings, Inc. (UCTT), and Weibo Corporation (WB).