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Yahoo Finance’s Emily McCormick breaks down earnings reports from JPMorgan, Wells Fargo and Citigroup.

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Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]

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Shares in IMV Inc. (IMV) are spiking 134% in Tuesday’s pre-market trading after the clinical-stage biopharma company said it made “rapid progress” in developing its candidate vaccine to prevent COVID-19 infection.The stock surged to $4 in pre-market trading as IMV said that it was working closely with regulatory agencies and its partners to initiate clinical studies as quickly as possible. The plan for the Phase 1 clinical study, agreed with Health Canada, is a randomized controlled study, assessing the safety and immunogenicity of its vaccine candidate DPX-COVID-19, to be conducted in 84 healthy adults across two age cohorts.DPX-COVID-19, is based on the Canadian biotech’s first-in-class lipid-based vaccine delivery platform that generates targeted and sustained immune response in vivo. Fully synthetic, the vaccine candidate is designed to focus the immune response on the weaknesses of the virus with the goal to optimize safety and efficacy.“The rapid progress in target selection, the vaccine formulation, manufacturing and preclinical results so far not only demonstrate the potential of our delivery platform, but also build on our previously reported clinical data from a similarly designed vaccine against RSV, the respiratory syncytial virus,” says IMV CEO Frederic Ors. “Clinical results have shown our DPX-based vaccine against RSV demonstrated a unique ability to generate safe and long-lasting immune responses in older adults.”IMV, a pioneer in a novel class of cancer immunotherapies and vaccines against infectious diseases, said it expects to start first in-human Phase 1 clinical trials this summer with results due in the fall of this year. Once results are published, the biotech company plans to initiate Phase 2 clinical trials in the second half of the year.Shares in IMV have more than doubled since hitting a low in March and are now trading 2.8% higher than at the beginning of the year. Overall, Wall Street analysts have a cautiously optimistic outlook on the stock with a Moderate Buy consensus. Despite the recent rally, the $6.21 average analyst price target implies a whopping 107% upside potential to current levels. (See IMV stock analysis on TipRanks)Related News: Abbott Labs, Edwards Lifesciences Settle Heart Device Patent Disputes Aldeyra Spikes 10% In Pre-Market On New Perceptive Stake Equillium Explodes 260% On Positive Covid-19 Results; India Approval More recent articles from Smarter Analyst: * Google In Talks To Buy $4B Stake In India’s Jio Platform – Report * Tesla Climbs 6% In Pre-Market, Boosted By ‘Accelerating’ China Projects * Biogen, Eisai Start New Phase 3 Trial For Pre-clinical Alzheimer’s Disease * AMC To Cut Debt By Up To $630M Lifting Shares By 7% In Pre-Market

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While not a mind-blowing move, it is good to see that the Cara Therapeutics, Inc. (NASDAQ:CARA) share price has gained…

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The San Francisco-based bank also cut its dividend for the third quarter to 10 cents per share from 51 cents previously to reflect the U.S. Federal Reserve’s recent curbs on bank dividends. Net interest income fell 18% from the prior period, as interest rates have fallen to near zero.

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The San Francisco-based bank also cut its dividend for the third quarter to 10 cents per share from 51 cents previously to reflect the U.S. Federal Reserve’s recent curbs on bank dividends. Net interest income fell 18% from the prior period, as interest rates have fallen to near zero.

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Tesla Inc (TSLA) has met with officials from a district in the city of Chongqing in southwestern China to discuss “accelerating projects”, the Liangjiang New Area said on Tuesday, as reported by Reuters.According to the report, officials held meetings with Tesla Vice-president Tao Lin, whose visit was reportedly welcomed by government official Duan Chenggang to “promote cooperation.”Reuters also reports unidentified sources cited by the China Securities Journal stating that cooperation could refer to sales and maintenance centers rather than factories. Last year Tesla opened its first plant outside the US in Shanghai.Shares in Tesla are climbing 6% in Tuesday’s pre-market trading, with the electric vehicle maker now up a whopping 265% year-to-date. The rally has continued unabated following strong second-quarter car deliveries, which exceeded analysts’ expectations. It delivered about 90,650 vehicles during the quarter, easily beating the estimated 74,130 figure.Piper Sandler analyst Alexander Potter has just boosted his price target on Tesla to $2,322 from $939 while reiterating his buy rating. According to Potter, Tesla is the “most consequential company in the mobility ecosystem, and this is unlikely to change in the next decade.” He recommends investors hold on to shares, noting the company’s significant software opportunity and faster-than-expected share gains.Looking ahead, five-star analyst Daniel Ives at Wedbush says that although investors will be focusing next on 2Q earnings on July 22, he continues to believe that Battery Day now to be held on Sept. 22 will be a major positive catalyst for the stock.“First on earnings around the corner, based on the 90k delivery number that Musk & Co. announced a few weeks ago it appears profitability is likely on the horizon and will be another major feat for Tesla in this very arduous COVID-19 backdrop,” Ives told investors.However, the analyst maintained a Hold rating on the stock with a $1,250 price target. Like Ives the majority of Wall Street analysts are sidelined on the stock with a Hold analyst consensus. In light of the share’s rally this year, the $905 average analyst price target now implies 39% downside potential to current levels. (See Tesla’s stock analysis on TipRanks).Related News: Google Faces Antitrust Investigation From Its Home State, California Apple Pledges $400M To Address California’s Housing Crisis Microsoft To Spin-Off Xiaoice, China’s Teenage Chatbot More recent articles from Smarter Analyst: * Biogen, Eisai Start New Phase 3 Trial For Pre-clinical Alzheimer’s Disease * AMC To Cut Debt By Up To $630M Lifting Shares By 7% In Pre-Market * Microsoft, Samsung To Develop Online Portal For Smart Building Management * Amazon’s Smart Cart Allows You To Skip The Line, And Will Launch This Year

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Biogen (BIIB), in collaboration with Eisai, and the Alzheimer’s Clinical Trials Consortium, has initiated a new global Phase 3 clinical study (AHEAD 3-45) with BAN2401, an anti-amyloid beta (Aβ) protofibril antibody.The study will evaluate the therapeutic effect of BAN2401 on the progression of Alzheimer’s disease in individuals in preclinical (asymptomatic) stages of the disease. These patients are clinically normal and have intermediate or elevated levels of amyloid in their brains.The AHEAD 3-45 program consists of two trials, A3 and A45, which aim to evaluate the potential of BAN2401 to reduce accumulation of harmful amyloid beta aggregates in the brain and prevent cognitive decline due to Alzheimer’s disease.A total of 1400 participants will be enrolled in the study, and will be conducted in the US, Canada, Japan, Australia, Singapore and Europe.The A3 trial will enroll participants with an intermediate amount of amyloid in the brain and high risk for further amyloid beta accumulation, and thus at risk for developing clinical symptoms of Alzheimer’s disease. The aim is to evaluate the potential of BAN2401 to stop or reduce aggregation of harmful amyloid beta in the brain before any clinical symptoms develop.The A45 trial will enroll participants with elevated levels of amyloid beta in the brain. The trial will measure the effect of BAN2401 in preventing cognitive decline and suppressing progression of Alzheimer’s disease pathology in the brain.“A successful outcome would provide opportunities to treat patients at a very early stage, or even preventing the disease, thereby substantially reducing patients’ suffering and providing substantial cost savings for society at large,” commented Gunilla Osswald, CEO, of Eisai’s business partner, BioArctic AB.Shares in Biogen are down 6% year-to-date, and analysts have a cautious Hold consensus on the stock. That’s with 8 recent buy ratings, vs 13 holds and 4 sells. Meanwhile the average analyst price target stands at $309 (12% upside potential). (See BIIB stock analysis on TipRanks)On July 8 Biogen announced that it had completed its biologics license application (BLA) regulatory submission for aducanumab, an investigational human monoclonal antibody for Alzheimer’s disease- and requested priority review. The US regulatory body, the FDA, now has 60 days to accept the filing, which will kick off a review of the application.JP Morgan’s Cory Kasimov anticipates that BIIB will receive Priority Review given the unmet medical need and expects the FDA to hold an Advisory Committee to get experts to weigh in on the package; this would likely occur in 2H20 under a priority review.“That said, this does not change our view on the candidate’s approval prospects, which we currently see as little better than a coin flip” the analyst wrote, adding that “with mounting pressures to the core franchises lowering BIIB’s perceived floor valuation, everything appears to be riding on this single, controversial asset.” As a result he reiterated a Hold rating on Biogen.Related News: Aldeyra Spikes 10% In Pre-Market On New Perceptive Stake Equillium Explodes 260% On Positive Covid-19 Results; India Approval Abbott Labs, Edwards Lifesciences Settle Heart Device Patent Disputes More recent articles from Smarter Analyst: * AMC To Cut Debt By Up To $630M Lifting Shares By 7% In Pre-Market * Microsoft, Samsung To Develop Online Portal For Smart Building Management * Amazon’s Smart Cart Allows You To Skip The Line, And Will Launch This Year * Google Seeks To Reassure EU For Fitbit Merger Approval- Report

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