Cancer Drug Maker 3D Medicines Inc. Trading Higher After Company Announces It Will Repurchase Up To 10% Of Outstanding Shares
Portfolio Pulse from Daniel Harrison
3D Medicines Inc. announced plans to repurchase up to 10% of its outstanding shares over the next 12 months, causing its stock to trade 7.2% higher. The company's management believes the current trading price does not reflect the intrinsic value and business prospects of the company. Despite strong sales and financial performance, the company's share price has dropped 87% year-to-date due to the broader Hong Kong market sell-off.
October 04, 2023 | 1:49 pm
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NEUTRAL IMPACT
BioNTech SE is a competitor of 3D Medicines Inc. but the news does not directly impact BioNTech.
BioNTech SE is mentioned as a competitor of 3D Medicines Inc. However, the news about 3D Medicines Inc.'s share buyback does not directly impact BioNTech SE.
CONFIDENCE 90
IMPORTANCE 10
RELEVANCE 10
NEUTRAL IMPACT
Evaxion Biotech AG is a competitor of 3D Medicines Inc. but the news does not directly impact Evaxion.
Evaxion Biotech AG is mentioned as a competitor of 3D Medicines Inc. However, the news about 3D Medicines Inc.'s share buyback does not directly impact Evaxion Biotech AG.
CONFIDENCE 90
IMPORTANCE 10
RELEVANCE 10
NEUTRAL IMPACT
Merck & Co., Inc. is a competitor of 3D Medicines Inc. but the news does not directly impact Merck.
Merck & Co., Inc. is mentioned as a competitor of 3D Medicines Inc. However, the news about 3D Medicines Inc.'s share buyback does not directly impact Merck & Co., Inc.
CONFIDENCE 90
IMPORTANCE 10
RELEVANCE 10
NEUTRAL IMPACT
Moderna, Inc. is a competitor of 3D Medicines Inc. but the news does not directly impact Moderna.
Moderna, Inc. is mentioned as a competitor of 3D Medicines Inc. However, the news about 3D Medicines Inc.'s share buyback does not directly impact Moderna, Inc.
CONFIDENCE 90
IMPORTANCE 10
RELEVANCE 10
NEUTRAL IMPACT
Novartis AG is a competitor of 3D Medicines Inc. but the news does not directly impact Novartis.
Novartis AG is mentioned as a competitor of 3D Medicines Inc. However, the news about 3D Medicines Inc.'s share buyback does not directly impact Novartis AG.
CONFIDENCE 90
IMPORTANCE 10
RELEVANCE 10
NEUTRAL IMPACT
Pfizer Inc. is a competitor of 3D Medicines Inc. but the news does not directly impact Pfizer.
Pfizer Inc. is mentioned as a competitor of 3D Medicines Inc. However, the news about 3D Medicines Inc.'s share buyback does not directly impact Pfizer Inc.
CONFIDENCE 90
IMPORTANCE 10
RELEVANCE 10
NEUTRAL IMPACT
Roche Holding AG is a competitor of 3D Medicines Inc. but the news does not directly impact Roche.
Roche Holding AG is mentioned as a competitor of 3D Medicines Inc. However, the news about 3D Medicines Inc.'s share buyback does not directly impact Roche Holding AG.
CONFIDENCE 90
IMPORTANCE 10
RELEVANCE 10