Manchester United Stock Higher After Dramatic Comeback
Oppenheimer had high praise for Five Below stock
The Dow is lower again today, heading toward its fourth straight loss. Among stocks making notable moves today, discount retailer Five Below Inc (NASDAQ:FIVE) and soccer franchise Manchester United PLC (NYSE:MANU) are climbing, while pharma company Aptinyx Inc (NASDAQ:APTX) is struggling. Here's a quick look at what's got the shares of FIVE, MANU, and APTX moving today.
Oppenheimer Bullish on Five Below
Five Below stock is up 2.2% to trade at $117.37, after Oppenheimer initiated coverage on the discount retailer with an "outperform" rating and $140 price target. The brokerage firm called FIVE "one of the few remaining retail growth stories," and hailed its "unique and defensible" small-store format. FIVE has shed 7.8% in the past month, but the selling appears to have been contained by its 160-day moving average.
An unwinding of short interest could keep the wind at the equity's back. Short interest fell by 15% in the last two reporting periods, yet the 3.24 million shares still sold short represents a healthy 6% of FIVE's total available float, and more than a week's worth of pent-up buying power, at its average pace of trading.
Champions League Comeback Has MANU In Form
Yesterday, Manchester United became the first soccer club to overturn a 2-0 deficit in the UEFA Champions League, beating Paris Saint-Germain on away goals in a last-minute 3-1 victory. United advances to the quarterfinals of the UCL. In reaction, MANU is up 2.4% to trade at $20.17, climbing above its year-over-year breakeven point. Since breaching $17 in early December, Manchester United stock has added nearly 20%.
An analyst at Gabelli weighed in on the club, calling it a "stunningly positive and it is only going to help sponsors." Overall, though, analysts are skewed on the iconic club. Half of the brokerages rate MANU a "strong buy," while the other half rate it a tepid "hold."
Failed Depression Drug Digs in to APTX
Aptinyx stock is down 10.5% to trade at $4.66, and earlier fell to a record low of $4.50. The stock's struggles today are linked to Allergan (AGN) and its experimental depression treatment that failed three-late stage studies. Aptinyx co-developed, and later sold the treatment the Allergan. After consolidating below $6 all year, APTX has now shed 73% from its June 21 opening price of $17.40.
A shift in analyst sentiment could be on the way. Of the five brokerages covering APTX, four rate it a "buy" or better, with zero "sells" on the books. Plus, the security's consensus 12-month price target of $19.33 is a 314% premium to its current perch.