Nov 12
Microcap Short holds up to 4 names short at $1 or more a share, with no minimum company size. Selection takes the smallest of them by the model's expected-move score. Returns are those of a short position in the basket, so the figure rises when the basket falls.
Equal capital goes into every position. The book is rebuilt each morning from the names the model expects to fall, and the orders are placed as market orders, so shorts and covers fill at the opening price. Positions are held for 6 to 21 days: they are not rotated out before day 6 and are covered by day 21. Every position carries a 40% stop on both sides. A short is covered if the price runs 40% above its entry, and equally if it falls 40% below it, filling at the first open after the level is touched. Reported returns are those of a short position in the basket: the position gains when the basket falls and loses when it rises. They are measured from those opening prices and include every stop exit. A short position's loss is not capped, and borrowing costs and stock-loan fees are not included.
H.C. Wainwright lifted its Adicet Bio price target from $27 to $34 following updated prula-cel lupus data, reiterating a bullish stance. A sharply higher target versus the ~$3 share price can draw speculative attention and support near-term sentiment, though the wide gap also reflects high execution risk.
Yahoo Finance UKAt the Guggenheim Healthcare Innovation Conference, Adicet emphasized 50% complete renal response and 54% DORIS remission at 12 months, FDA alignment on the pivotal endpoint, and a plan to move directly to pivotal testing after stopping Phase 2 enrollment at 22 patients. Shares rose 1.67% to $3.04 on the day, indicating modest positive reception but lingering sector caution.
Investing.comAardvark's Q2 net loss narrowed and beat analyst expectations, with operating expenses falling due to paused ARD-101 trials and workforce reduction. Cash is expected to fund operations into late 2027, though the company remains in active FDA discussions to resolve the clinical hold.
StockopediaAdicet reported Q3 2026 net loss of $18.9 million ($1.76/share) with $100.9 million in cash, sufficient to fund operations into 2H 2027. It disclosed pivotal LN study startup, a planned 4Q 2026 FDA meeting on expanding into non-renal lupus, and 1Q 2027 regulatory/data update, plus FDA IND clearance and Fast Track for ADI-212 in mCRPC. The runway removes immediate financing overhang but the next major catalyst is months away.
Adicet Bio Press ReleaseFTCI reported Q3 2026 EPS of -$0.44, beating the -$0.59 consensus by $0.15, while revenue of $32.8M came in below the $33.19M estimate but up 25% q/q and 26% y/y. Non-GAAP gross margin of 8.4% exceeded the guidance range, and adjusted EBITDA loss of $5.2M was better than the guided range. The EPS beat and margin outperformance are a positive near-term signal, though the revenue miss tempers enthusiasm.
Investing.comManagement guided Q4 2026 revenue to $44M–$52M, implying ~46% sequential growth at the midpoint, but the range falls well short of the $62.83M analyst consensus. The company also targets Adjusted EBITDA profitability in Q1 2027 and full-year profitability in 2027. The below-consensus revenue guide is a likely near-term negative for sentiment even as the profitability trajectory is constructive.
Investing.comIn an 8-K filed November 4, FTCI disclosed it resumed its ATM offering program with H.C. Wainwright and executed sales of common stock that same day, reversing a prior 10-Q statement that it had no current plans to use the remaining capacity. Resumed ATM sales introduce near-term dilution overhang and could pressure the stock.
SEC Filing (8-K)Subsequent to quarter end, FTCI announced a series of awards including a 750MW North American project, a 175MW U.S. project from a new customer, a ~600MW Puerto Rico portfolio with Linxon/Energy Transition Capital, a Master Supply Agreement with AGR Renewables targeting 500MW in the UK through 2028, and 118MW (Tata Power Solar) and 121MW (Evren/Brookfield) projects in India. Contracted backlog stands at ~$640M. The breadth of wins supports the growth narrative and is a positive near-term catalyst.
FTC Solar Press ReleaseRaymond James downgraded Aardvark to Market Perform from Strong Buy, citing uncertainty over the company's FDA path following last month's equivocal data update. The removal from the recommended list and cautious near-term stance could weigh on sentiment and limit buying interest.
Investing.comOppenheimer downgraded AARD to Perform from Outperform and withdrew its $21 price target, while H.C. Wainwright lowered its PT to $2 from $4 maintaining Neutral. The cluster of negative analyst actions following the exploratory HERO/OLE data reinforces bearish near-term sentiment.
Investing.comEnlivex reported durable 12-month responses in patients aged 64+, with 79.2% responders on Allocetra vs 47.6% on placebo (p=0.027), consistent with 3- and 6-month results and a favorable safety profile. The data support the ongoing Phase 2b program and were presented at ACR Convergence on Nov 8, 2026, providing a positive fundamental catalyst though the stock still fell sharply post-announcement.
Enlivex Press Release (GlobeNewswire)Adicet granted an inducement stock option for 1,500 shares at a $3.42 exercise price, a routine compensation action with negligible fundamental impact. It is included only for completeness and is unlikely to move the stock.
StockTitanThe company announced 135 of a planned 182 patients have been randomized and dosed in the Phase 2b trial in age-related knee osteoarthritis, with topline six-month data expected by mid-2027. This is an execution milestone rather than a data readout, so its near-term price impact is limited, though it reinforces pipeline progress.
Enlivex Press Release (GlobeNewswire)Enlivex received a Nasdaq delisting determination on Oct 26, 2026 because its bid price stayed below $1.00 for 30 business days and it was ineligible for the 180-day cure period due to a prior reverse split. The company intends to request an oral hearing, which stays suspension pending the appeal, but failure to win the appeal would remove the shares from Nasdaq Capital Market and likely trigger forced selling and liquidity loss.
Enlivex Press Release (GlobeNewswire)The company effected a 1-for-16 reverse split of its ordinary shares effective Oct 27, 2026, intended to support the Nasdaq appeal and regain bid-price compliance. Reverse splits of micro-caps are frequently followed by continued selling pressure, and the reported ratio varied across listings, adding confusion that can weigh on the stock near term.
Enlivex Press Release (GlobeNewswire)Aardvark reported exploratory data from the prematurely terminated Phase 3 HERO trial and OLE, showing only a modest HQ-CT reduction versus placebo and rebound upon discontinuation. The inconclusive data prompted multiple downgrades and raise uncertainty over the Phase 3 path, pressuring shares.
Aardvark Therapeutics Press ReleaseThe FDA lifted the clinical hold on the ARD-101 IND for hyperphagia in Prader-Willi Syndrome after additional ECG and cardiac sodium channel studies showed no cardiac events at 200/400 mg BID. The removal of the hold is a positive regulatory step, though the company still needs an FDA meeting to align on a new Phase 3 design.
Investing.comEnlivex announced a cost reduction plan winding down non-clinical R&D, cutting workforce by approximately 60%, and reducing management and CEO salaries to extend cash runway for the Phase 2b trial. The move reduces burn but signals financial strain, a mixed signal for near-term sentiment.
Enlivex Press Release (GlobeNewswire)