Trading Blog, October 26th, 2021

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In my long-term investment accounts, I have initiated a position in Movano (MOVE). Movano is developing wearable technology for monitoring glucose, blood pressure and other relevant health data.

The wearable space is very exciting and many companies, including Apple and many other large players, are looking to get into this industry. The potential here is obviously massive and any success could lead to a great return.

So, why Movano? There are a few reasons to like this company in the long-term. I’ll bullet point them here.

  • Movano has a unique approach to monitoring health data as they use RF devices. There are several studies that show this has the potential to be the best route, however all the competitors are pursuing optical as their path. Thus, while technological success would be binary, the upside opportunity dwarfs the risk here.
  • The Company has strong management. I particular I’ll highlight the CEO who just joined Movano earlier this year. Here’s his bio: John Mastrototaro, PhD, has over 30 years of experience in the medical device industry, leading innovation and bringing new products to the market. Before becoming CEO of Movano, he was the COO of Orthosensor, Inc., which was acquired by Stryker (NYSE: SYK). Previously, Mastrototaro spent the majority of his career with Medtronic and MiniMed, where he was instrumental in initiating and leading a series of firsts in the world of diabetes, including the ambulatory continuous glucose monitoring system, the sensor augmented insulin pump and the early generations of the artificial pancreas. During his tenure in Medtronic’s Diabetes division, Mastrototaro held a number of positions, including CTO, VP of R&D and Business Development and Global VP of Clinical Research and Health Affairs. He was also Medtronic’s first VP of Informatics, where he helped develop a corporate strategy for the use of data and analytics to improve healthcare delivery.
  • Movano has strong backers. These include Malcolm Fairbairn, whose wife Emily sits on the board of the Company. It is also well capitalized through major catalysts.

I also think this is a timely investment in the short-term. Here’s why.

  • MOVE went public this year but has acted like a private company. They have done ZERO marketing and really haven’t spoken with the investment community. It’s off radar screens completely.
  • The stock, naturally, is down from the IPO, which took place at $5. I believe there was lots of tax-loss selling here. There’s certainly the potential for this to continue through the holidays.
  • There are some major catalysts coming in the near future. The Company has really highlighted CES as the time for them to make a splash in the market and they should be active in getting news out and a product ready by then; CES starts on January 5th.

I have only taken a small position at this time. This is partly due to be cash constrained and wanting to wait for several other stocks to have their catalysts come together, at which time I’ll be able to roll more money over to Movano. I’m intending to grow this position over time and am hopeful there will be more tax-loss selling allowing me to get in cheaper, but that may also have run its course already.

I intend to write more about Movano in the near future.

In my trading account, I’ve sold my enVVeno (NVNO) over the last few days and moved that money into INmune (INMB). This account is basically 100% long INmune, except for those times where I think I can be opportunistic in trading into other names for the short term.

My thesis on NVNO was to own it for the announcement of the first patient being dosed. I thought it might pop on the news and figured my downside was breakeven. I basically came close to breakeven on this trade.

I continue to be long all my NVNO in my long-term accounts and it is still my second largest holding behind INmune. I wanted to swap back now as 1) the catalyst was over and 2) I believe we will see news on Quellor and INKmune soon. I want to be there in a big way for that news.

My trading account at this time owns INMB and TFFP, including stock and Jan. $12.50 calls. The INmune position is by far the larger.

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