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A short note this morning with more to come. Last night two financings were priced. I like both stocks and think you can buy both this morning (right now would be good) before the street catches on to them.
First off is Rein Therapeutics (RNTX). This is a stock that has intrigued me for a while but the fear of a financing kept me on the sidelines. They priced a very clean transaction at $1 per share (down from over $2 recently); I participated in the financing and bought more stock this morning.
I’ll give a complete writeup soon but, suffice to say, it’s nice to find a quality company with good programs that hasn’t participated in the bull market. I think this is a very easy trade and would load up ASAP. I suspect it trades higher as the day goes on and will likely be back over $2 soon as they have some catalysts ahead.
Senseonics (SENS) also raised money. This one is not as exciting short term as devices simply don’t get the love that therapeutics do. Thus, the urgency is not there.
That said, I like this long term and this was the big risk to the story. That’s now behind us and I’ll likely start establishing a position here soon. Again, nice to find a very reasonable valuation in a company that is executing well and a market that has ripped of late.
More to come on both but the time to act is now.
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