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💊See Today’s Top Biotech Stock Idea!💊

Good day, 360 –

Here are our top 3 trade ideas today – these setups look primed! Be the best prepared trader on the Street!

ADIL - Up over 60% after providing regulatory strategy update and potential increased pricing for AD04 for Treatment of Alcohol Use Disorder

TRKA - Closed up over 48% and gapping higher this morning as Reddit Apes squeeze shorts

VRAX - Up over 100% after announcing the start of distribution of Avian flu test kits in Europe

ADIL - Up over 60% after providing regulatory strategy update and potential increased pricing for AD04 for Treatment of Alcohol Use Disorder

ADIL Pharmaceuticals (ADIL) announced this morning that it would pursue paths towards US and Europe approvals for AD04 and said market research suggests pricing could be more than double prior assumptions. That was enough to send the stock over 60% higher in pre-market. Doubling the price at which it could sell its potential drug is significant news for this small-cap biotech and could change its future prospects significantly.

$0.74 was support in the pre-market and became resistance so that should be a potential pivot point today.

Above it, targets to the upside are $0.84 with the pre-market high at $0.8650. Above that the next major levels would be $0.90 and $1, with $1.12 and $1.20 above that.

Below $0.74 there is potential support at $0.65, with further targets to the downside at $0.57, $0.55, $0.50 and a gap to fill at $0.42.

TRKA - Closed up over 48% and gapping higher this morning as Reddit Apes squeeze shorts

Troika Media Group (TRKA) is up over 150% after we mentioned it a few weeks back when it was gapping higher on no news. The company since then has announced that it would retain Jefferies LLC to help explore strategic alternatives and that was 13 days ago.

TRKA is routinely one of the top Reddit short squeeze mentions and has a short float of over 40% according to Finviz. When we wrote about this one last on Feb 21, 2023, that short float was only 20%. That probably explains the move as someone could be on the wrong side here continuing to add to their short position.

TRKA is a MEME favorite and if a big short is stuck here, there is no telling how high this can continue to go.

$0.96 was the pre-market high and resistance in the pre-market and that should be an important pivot point.

Above it, targets to the upside are $1, $1.05, $1.10, $1.16. $1.27 with $1.40 and $1.50 above that. If a short is caught there is no telling how high this can go, I'm talking $5+ here.

Below $0.96, there is potential support at $0.85 with a gap to fill at $0.7655 with targets at $0.60, $0.50 and $0.40 below that. Remember this move began at around $0.30.

It should also be noted that strategic alternatives means TRKA could be looking at an acquisition so there could be some insider action here as well.

VRAX - Up over 100% after announcing the start of distribution of Avian flu test kits in Europe

Even with the gap higher, Virax Biolabs (VRAX) is still down around 90% from prices it was trading at less than 12 months ago. However over the last 3 months or so VRAX has received approval for over the counter Covid tests in the U.S, distribution of Human Papillomavirus test kits in the EU and now Avian Flu kits. This could be a significant driver of new revenue moving forward and a change in fundamentals for the company.

The $1.30 area was support in the pre-market and should be an important pivot level this morning.

Above it, the first target for Bulls would be the pre-market high at $1.60. Further targets to the upside are $1.70, $2 and a gap to fill at $2.29 and prior resistance at $2.55.

Below $1.30, there is potential support at $1.18 and then $1, with a gap to fill at yesterday’s close of $0.6629 below that.

Economic Calendar (EST)

8:55 am Redbook sales

10:00 am Fed speaker Powell

10:00 am Wholesale inventories

11:00 am Four-week bill announcement

1:00 pm Three year note auction.

3:00 pm Consumer credit

4:30 pm API crude oil data

Earnings for Today (After Market)

AGTI, AKLI, AMOT, AQST, ARLO, BASE, BSQR, CASY, CHMI, CPIX, CPSH, CRCT, CRGY, CRWD, DRRX, FLL, FTEK, HHS, IDN, MAXN, MBC, MNTS, MRNS, NINE, NRGV, PCTI, PROF, PRTS, RIGL, SFIX, SNCR, SOUN, TDCX, TMCI, WEYS, WTI, YEXT, ZYME

Top Headlines

ADIL: Adial Pharmaceuticals Provides Update on Regulatory Strategy for AD04 for Treatment of Alcohol Use Disorder

HLNE: Hamilton Lane Announces Public Offering of Class A Common Stock

STM: STMicroelectronics’ new STM32 microprocessors balance performance, power, and cost for advanced connected devices

VRAY: Military University Hospital Prague Selects ViewRay's MRIdian® MRI-Guided Radiation Therapy System to Treat Cancer Patients

INCY: Caris Life Sciences and Incyte Enter Into Broad Precision Medicine Partnership to Advance Incyte's Oncology Pipeline

HUT: Hut 8 Mining Production and Operations Update for February 2023 -- 156 Bitcoin mined in February

NBY: NovaBay Pharmaceuticals Launches Avenova® Eye Health Support, a New Antioxidant-Rich Oral Supplement to Comfort Dry Eyes and Promote Overall Eye Health

NVRO: Nevro Announces U.S. Full Market Launch of Revolutionary HFX iQ™ Spinal Cord Stimulation System to Personalize Treatment of Chronic Pain

TNXP: Tonix Pharmaceuticals Announces Results from a Preclinical Study of Murine TNX-1700 Presented in a Poster at the Keystone Symposia, “Cancer Immunotherapy: Mechanisms of Response Versus Resistance”

UBER: UberEats Partners with Tampa International Airport to Bring Mobile Ordering to Consumers

OFIX: Orthofix Announces More Than 5,000 Fitbone Intramedullary Limb-lengthening Devices Implanted Worldwide to Date and Over Twenty Years of Clinical History

TRVN: Trevena Initiates Targeted Proof-of-Concept Study to Evaluate TRV045 as a Potential Treatment for Epilepsy and Other CNS Disorders

NVRO: Nevro Announces U.S. Full Market Launch of Revolutionary HFX iQ™ Spinal Cord Stimulation System to Personalize Treatment of Chronic Pain

IONS: Ionis announces FDA acceptance of New Drug Application for eplontersen for the treatment of hereditary transthyretin-mediated amyloid polyneuropathy (ATTRv-PN)

CTSO: New European “Guidelines for the Management of Severe Perioperative Bleeding” Consider Hemadsorption for the First-Time

GRNA: GreenLight Biosciences Outlines Development Strategy and Highlights Portfolio Updates at Plant Health R&D Day

LODE: highs pre LODE On March 1, 2023, Comstock Inc. (the “Company”) announced that LINICO Corporation (“LINICO”), a corporation that is 88.21% owned by the Company, entered into agreements to sell certain assets owned by LINICO for $27.0 million.

AKAM: Akamai Technologies Releases New Service and Tools to Stop Advanced Threats and Drive Zero Trust Adoption

HTOO: Fusion Fuel and Toyota Material Handling España Announce Strategic Collaboration to Promote Green Hydrogen Driven Forklift Solutions for Spanish Market

REGN: Dupixent® (dupilumab) Application for Treatment of Chronic Spontaneous Urticaria (CSU) in Adults and Adolescents Aged 12 Years and Older Accepted for FDA Review

RKLB: Rocket Lab schedules next Electron launch from Virginia

VRAX: Has Entered An Agreement For Distribution Of An Avian Influenza A Virus Real-Time PCR Test Kit To Markets Accepting The CE Mark  sm

FLT: Corpay Cross-Border Announced as Real Betis Balompié’s Official FX Payments Provider

NMTC: NeuroOne® Awarded U.S. Patent Covering Novel and Proprietary Thin Film Electrode Platform

ANPC: AnPac Bio Announces Receipt of the First Payment from a Malaysia Customer On a Signed US$1.5 Million Cancer Detection Equipment Purchase Contract

BKSY: BlackSky Wins $150+ Million Competitive Bid For Space-Based Tactical GEOINT Service With International Ministry of Defense

DKNG: DraftKings Set to Launch Online Sportsbook in Home State of Massachusetts on March 10

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