SRPT

Emerging Gene Therapies: Recent patient deaths linked to Sarepta Therapeutics' gene therapy have increased interest in Solid Biosciences' SGT-003, which aims to reduce liver toxicity while maintaining efficacy in treating Duchenne muscular dystrophy (DMD).

Analyst Coverage and Ratings: Needham analyst Gil Blum initiated coverage of Solid Biosciences with a Buy rating and a price target of $16, highlighting the promising early results of SGT-003.

Regulatory Outlook: Regulatory updates expected in the first half of 2026 may accelerate the approval process for SGT-003, with Phase I studies anticipated to begin in late 2025.

Financial Position: Solid Biosciences reported a cash position of $268 million, which is projected to sustain operations into the first half of 2027, while shares have seen a notable increase.

Market Performance: Wall Street began December with a slight decline in major indices, as the S&P 500 and Nasdaq 100 fell by 0.1%, and the Dow dropped 0.4% after a strong rally in late November, with energy stocks gaining due to rising crude prices.

Bond Yields and Currency Movements: U.S. Treasury yields rose, with the 10-year yield reaching 4.08%, while Japanese government bond yields surged to their highest since 2008, prompting speculation about potential rate hikes by the Bank of Japan. The U.S. dollar index fell for the fifth consecutive session amid expectations of a Federal Reserve rate cut.

Silver and Cryptocurrency Trends: Silver prices soared past $58 per ounce, achieving record highs and a year-to-date gain of over 100%, while Bitcoin experienced a significant drop of over 6%, compounding its year-to-date losses to nearly 9%.

Corporate Earnings Adjustments: Strategy Inc. (MSTR), the largest corporate holder of Bitcoin, significantly downgraded its earnings forecast for 2025, leading to a 10% drop in its shares, as it anticipates a loss of up to $6.3 billion, contrasting sharply with previous profit expectations.

Market Performance: Stocks were mainly higher at midday, with the Nasdaq 100 leading gains at 1.1%, while the S&P 500 and Dow remained close to flat, buoyed by positive labor-market data and optimism ahead of the Thanksgiving holiday.

Sector Gains: All eleven S&P 500 sectors showed positive movement, particularly technology, materials, and consumer staples, as the CBOE Volatility Index continued to decline, indicating reduced market fear.

Earnings Highlights: Notable stock movements included Dell Technologies rising 6.7% due to strong AI server demand and Robinhood Markets surging 10% after announcing plans for a new futures and derivatives exchange.

Precious Metals and Crypto: Precious metals saw gains, with gold up 0.9% and silver nearly 3% higher, while Bitcoin showed signs of recovery, rising 3% to $89,000.