New 52-Week Highs & Lows 9 New 52-Week Highs NECB: $29.26 FMAO: $37.60 HALO: $128.11 EXEL: $65.58 GMAB: $45.44 BPRN: $46.34 BSVN: $59.52 ATLO: $34.13 CZNC: $28.31 20 New 52-Week Lows GUTS: $1.02 ETRA: $8.26 MIST: $0.63 MDWD: $11.80 CTMX: $2.18 ARDX: $2.99 GANX: $1.14 CMPX: $0.74 CATX: $1.12 ALT: $2.02 NAGE: $2.38 KLRS: $1.78 KYTX: $5.18 BMEA: $0.55 KYNB: $4.36 ACET: $3.81 CUVL: $4.88 GNLX: $1.87 CABA: $1.32 CRBP: $3.87 The Takeaway Nine new highs against 20 new lows, but look at where the strength is coming from. Six of the nine new highs are banks: NECB, FMAO, BPRN, BSVN, ATLO and CZNC. The other three are HALO, EXEL and GMAB, established biotech and pharmaceutical businesses. Meanwhile, the downside is dominated by smaller biotech companies. CMPX has fallen to $0.74, BMEA to $0.55, CATX to $1.12 and CABA to $1.32. Even names with interesting clinical programs are getting caught in the selling. This is exactly why I follow both banking M&A and biotech M&A. The banks are providing strength while speculative biotech remains under pressure. There is another interesting distinction here. The biotech names making new highs are more established businesses, while many of the companies making new lows are still dependent on clinical development and access to capital. The market is rewarding financial strength and punishing uncertainty. For an M&A hunter, that creates two different opportunities. Banks with improving valuations and consolidation potential on one side, and beaten-down biotech assets that may eventually attract buyers on the other. A 52-week low doesn't automatically make something cheap, and a 52-week high doesn't automatically make it expensive. The underlying business and the acquisition thesis still matter most.

$ARCC Sometimes You Catch Both Ends of the Deal Ares Capital is acquiring MidCap Financial Investment in a cash-and-stock transaction valued at approximately $2.6 billion, including debt. The announced consideration of $10.88 per MFIC share represents a 30.1% premium to yesterday’s close. MFIC shareholders are expected to receive approximately $1.21 in cash and $9.67 in ARCC stock, subject to the deal’s adjustments. That gives the target’s shareholders an immediate premium while Ares adds scale and a lending portfolio at a discount to MFIC’s preliminary net asset value. Management expects the acquisition to modestly increase ARCC’s core earnings per share and support future dividends. One detail worth watching: MFIC’s planned special dividend reduces the stock consideration dollar-for-dollar. It does not simply get added on top of the $10.88. Closing is expected in the first half of 2027, subject to shareholder and regulatory approvals. This is why I hunt both ends of the M&A chain. The target gets the headline, but a disciplined buyer can keep creating value long after the announcement.

$IBRX your in trouble now Cramer just blessed it LOL