Intentions Seeker Stocks: Alibaba Group Holding Limited (NYSE:BABA), Versartis, Inc. (NASDAQ:VSAR), Linn Energy, LLC (NASDAQ:LINE)

April 25, 2023 4:32 pm0 commentsViews: 79

Alibaba Group Holding Limited (NYSE:BABA) dropped in previous session as it is in talks to rent more office space in the Seattle area, anywhere founder Jack Ma first came upon the Internet while visiting the city two decades before. The Hangzhou, China-based e-commerce firm is considering a sublease for approximately 20,000 square feet (1,860 square meters) in City Center Bellevue, a 27-story office tower east of Seattle, according to two people with knowledge of the discussions. The space could house about 100 employees. Alibaba last year began renting space in the landmark Decatur Building in downtown Seattle, where its lease expires soon. Candice Huang, an Alibaba spokeswoman, declined to comment on leasing matters. Monica Jones, a spokeswoman for City Center’s owner, American Assets Trust Inc., didn’t return a call for comment. Shares of Alibaba Group Holding Limited (NYSE:BABA) traded at $80.23 by plunging -2.24% with price volatility of 1.76% for a week and 1.75% for a month.

Versartis, Inc. (NASDAQ:VSAR) released that the US FDA has uninvolved the partial clinical hold on the firm’s Investigational New Drug Application for VRS-317. With this action, the firm will proceed by means of the Phase 3 registration examination, VELOCITY, of VRS-317 in children with GHD. Chief Executive Officer, Jay Shepard stated that their team has continued to work diligently with the FDA and they are excited to be moving forward with the Phase 3 clinical trial of VRS-317 in pediatric GHD patients. There is a significant need for these patients to have treatment options that are less burdensome than the daily injections that are the current standard of care. He added, “We continue to expect VRS-317 to be the first and longest-acting rhGH product candidate in development to reach the market and, with the removal of the partial clinical hold, we remain on track to achieve this goal.” Versartis, Inc. (NASDAQ:VSAR) stock hit highest price at $19.47, beginning with a price of $14.70 and reported a gain of 29.41% to close at $18.92 with a day range of $14.70-$19.47. The total market capitalization remained 553.71 Million, total volume of 1.68 Million shares held in the session was surprisingly higher than its average volume of 197.52 shares.

Linn Energy, LLC (NASDAQ:LINE) along with LinnCo, LLC (LNCO) released that LINN has signed definitive contract with private capital investor Quantum Energy Partners to fund selected future oil and natural gas purchases and the development of takeover assets. Quantum has agreed to initially commit up to $1 billion of equity capital to fund acquisitions and development of oil and natural gas assets. LINN will have the ability to participate in all acquisition opportunities with a direct working interest ranging from 15 percent to 50 percent. Mark Ellis, CEO of LINN Energy, said: “We anticipate a number of attractive assets may come to market in the current environment and we expect these agreements will position the company to take advantage of such opportunities.” Linn Energy, LLC (NASDAQ:LINE) stock has highest price of $9.330 in last session, beginning with a price of $9.060 and reported a decrease of -1.26% to close at $9.05 with a day range of $9.010-$9.330. The stock is going forward its 52-week low with 5.42% and moving down from its 52 week high price with -69.35%.


Leave a Reply

Show Buttons
Hide Buttons