We played a short on QURE back in June for a gain but were stopped out with a bounce from the historic low. Shares are returning to that level and I expect support to fail.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
QURE - UniQure - Company Profile
UniQure is a biopharmaceutical company, engages in the discovery, development, and commercialization of gene therapies in the Netherlands. The company offers Glybera, a gene therapy product for the treatment of patients with lipoprotein lipase deficiency. They have multiple drugs in development for a variety of illnesses.
In their recent earnings they reported a loss of 92 cents that missed estimates for a loss of 82 cents. Revenue of $4.3 million did beat estimates for $2.9 million. This is a very small company and since the ASCO conference their shares have been in crash mode.
Losses appear to be accelerating and they lost $22.69 million in Q1. Their market cap is only $204 million.
Earnings August 25th.
Shares have been declining for the last week and are very close to a new low. We played this back in June when it was making that low and were stopped out for a gain when it rebounded. I think it will set a new low this time and probably sink to $5.
They have only been public for 2 years and from the chart today it looks like they are going significantly lower. Normally when a stock hits the prior historic low there is a rebound or at least a pause.
With a QURE trade at $7.00
Short QURE shares, initial stop loss $8.00.
No options recommended.