Benzinga - Investors are on the hunt for undervalued, underfollowed and emerging stocks to spot opportunities. Retail traders have countless methods at their disposal to uncover new information. For some, this may be overwhelming.
Benzinga’s Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks each week that are just under the surface and warrant attention.
The index layers editorial commentary to help make sense of why these stocks are of interest and whether they broach an area for the investor and casual reader to watch.
Here is a look at the Benzinga Stock Whisper Index for the week of Jan. 26, 2023.
Precigen Inc (NASDAQ: PGEN): Clinical stage biopharmaceutical company Precigen announced safety and efficacy data from its Phase 1 trials for PRGN-2012, an immunotherapy.
The company also announced plans for a $75-million public offering. Shares have been volatile and the stock was among the highest scored on the Benzinga weekly algorithm that makes up this index.
Alvarium Tiedemann Holdings (NASDAQ: ALTI): Alvarium is new to the market, going public via SPAC merger. A high percentage of shares were redeemed at the merger, turning the float into an extremely low 66,000 shares, according to Julian Klymochko, with 99.8% redeemed.
The merger was completed in November and the ticker change and merger were not complete until January, leaving several months of trading opportunities for investors, which sent shares up significantly in recent days.
Shares have traded between $5.54 and $27.50 over the last 52 weeks. Shares could be volatile moving forward, as Alvarium is a low-float name until future offerings and redemption periods for existing investors.
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Bridger Aerospace Group Holdings (NASDAQ: BAER): Aerial firefighting company Bridger Aerospace also came to market via a SPAC merger. The company merged with Jack Creek Investment Corp. and recently completed the merger and ticker change. Shares have traded between $8.81 and $10.60 over the last 52 weeks.
Shopify Inc (NYSE: SHOP): The largest company to appear in this week’s index is e-commerce company Shopify, which had recent news that could be increasing interest in the stock. Shopify announced price increases on Wednesday.
“The price we charge for access to the best tools in commerce has remained largely unchanged for the last 12 years,” the company said.
Investors could be considering the stock as a play on the price increases and ahead of fourth-quarter earnings in February.
Scilex Holding Company (NASDAQ: SCLX): Majority owned by Sorrento Therapeutics (NASDAQ: SRNE), Scilex is focused on non-opioid pain management products for pain.
The company’s lead product ZTlido is approved by the FDA. Other treatment options from the company could increase revenue and the visibility of the company. Shares of Scilex are up 68% year-to-date in 2023 and the stock had several halts on Monday and in early January.
That’s it for this edition of the Benzinga Stock Whisper Index.
Click on the latest in the Benzinga Stock Whisper Index stocks to watch here:
- Week of Jan. 5
- Week of Jan. 12
- Week of Jan. 19
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