Tuesday Pre-Market Insights: Northwest Biotherapeutics, Inc (NWBO), Neuralstem, Inc. (CUR), Yelp Inc (YELP), On Deck Capital Inc (ONDK)

Northwest Biotherapeutics, Inc (NASDAQ:NWBO) is up 26% in pre-market trading Tuesday, after the company provided an operations updates on its phase 1 and 2 trials, announcing an agreed upon budget for the trials and the pursuit of regulatory approval. Included in the updates are data for its phase 1 portion of its DCV-VAX Direct trial, reporting that 20 out of 40 patients have exceeded overall survival of 12 months. The company indicated positive and encouraging results from the phase 1/11 trial which “are of significant for further trials.”

In a public filing made to the U.S. Securities and Exchange Commission on November 24, Woodford Investment Management bought 44,233 shares of Northwest Biotherapeutics. Back then, fund manager Neil Woodford noted, “When my team and I first met with Northwest we were attracted to its technology, which looks to harness the power of the body’s immune system to fight cancer. It’s a broad-based technology for a range of solid tumours and is being trialled in patients who have exhausted all other avenues of cancer treatment.”

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Neuralstem, Inc. (NASDAQ:CUR) is falling over 37% in pre-market trading after the company announced a proposed public offering of common stock of 20,000 shares at $0.40 per share. The biopharmaceutical company plans to use the proceeds from the offering to fund various initiatives such as pre-clinical activities and for general corporate purposes, including repaying debt and working capital. According to TipRanks statistics, one analyst has rated the company in the past 3 months with a Buy rating and $8.00 price target, marking a 1,256% upside from where shares last closed.

Yelp Inc (NYSE:YELP) is up 5% in pre-market trading following yesterday’s news that hedge fund Greenlight Capital, owned by billionaire David Einhorn, announced an increased stake in the company according to a Q1 letter to investors. The letter stated that by 2019, Yelp could potentially double its revenue. Although Yelps stock has “”suffered due to missed expectations and anxiety about an upcoming negative documentary” Einhorn does not believe the documentary will have a material impact long-term. Einhorn also stated, “We rate them five stars” referring to the company’s rating system.

According to TipRanks statistics, out of the 17 analysts who have rated the company in the last 3 months, 6 gave a Buy rating, 3 gave a Sell rating, and 8 remain on the sidelines. The average 12-month price target for the stock is $21.09, marking a 2% downside from where shares last closed.

On Deck Capital Inc (NYSE:ONDK) is falling 32% in pre-market trading after the company reported its Q1 earnings yesterday after market close. The company reported revenues of $62.6 million and a loss of $(0.13) per share, missing estimates of $69.9 million and a loss of $(.09) per share, respectively. The company forecasted these losses as a result of its decision to sell fewer loans this quarter, holding more on its balance sheet to drive long term growth. Chief Executive Noah Breslow stated, “We will see greater financial benefits from our decision beginning in 2017.”
Following earnings, analyst Mayank Tandon of Needham and company downgraded the stock from Buy to Hold. He states, “We are downgrading ONDK to a HOLD from a BUY following a disappointing 1Q, sharp reduction in guidance, and increased uncertainty on the path to profitability for the company. ONDK missed 1Q estimates on slower growth in loan originations, with a lower mix of Marketplace loan sales weighing disproportionately on EBITDA losses. … Although we believe the SMB online lending space represents a large and underserved market opportunity, the lack of clarity on the sustainable growth prospects and margin levels for ONDK leads us downgrade the shares to a Hold.”

According to TipRanks, of the 8 analysts who have rated the company 2 gave a Buy rating while 6 remain on the sidelines. The average 12-month price target for the stock is $9.42, marking a 13% upside from where shares last closed.

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