Updates on 8 Positions as We Wait for the Fed

We have some positive action Wednesday, with breadth running about 63% positive, as we await the Federal Reserve’s interest-rate policy decision. The S&P 500 is flat, but small-caps (IWM) are up 0.67%, and the Magnificent Seven (MAGS) is down 1%. There is some jostling as investors position for whatever new Fed Chair Kevin Warsh may unleash.

As I’ve been discussing lately, I have been busy positioning myself with high cash levels and playing tighter defense to make sure my accounts stay near highs. I’m still finding things to buy and added several purchases this morning.

Position Updates

Here is an update on various positions and what I’m doing.

1. uniQure (QURE) and ClearPoint Neuro (CLPT). Both names are up strongly Wednesday morning on news that the FDA said the three-year analysis from the Phase I/II study would be acceptable as the primary basis of a biologics license application (BLA) for the accelerated approval of AMT-130 in Huntington’s disease. These stocks have been whipped around due to different leadership at the FDA.

I am being aggressive with CLPT which provides the equipment needed for QURE to deliver its gene therapy to the brain. CLPT will benefit immediately from phase 3 studies but the big issue for them is that they have more than 60 other pharma partnerships across various stages of development.

While QURE is the closest to the commercial finish line, CLPT is not a single-product company. This Huntington’s disease approval serves as the definitive commercial validation for their entire platform, which will make it much easier to monetize the rest of their pipeline as other neurological gene therapies advance toward regulatory submission.

2. NeoVolta (NEOV) is a low-priced stock I have been following for a while. They were a small player in residential backup batteries but are transforming into a utility-scale battery energy storage system player. This is a massive undertaking and there is substantial execution risk.

Needham initiated coverage Wednesday morning with a report:

“From Garage Wall to Grid Scale; Initiate Buy, $8 PT. We view NEOV as a higher-beta grid-scale storage call versus FLNC: smaller, earlier-stage, and more execution-dependent, but with greater potential upside if Pendergrass qualifies, books orders, and ramps. Our model takes revenue from ~$14MM in FY2026 (June 2026) to ~$657MM in FY2028 (June 2028), with adjusted EBITDA inflecting from a loss to ~$99MM over the same period. Our $8.00 PT implies >300% upside and only partially capitalizes the utility-scale BESS inflection.”

I’m long NEOV and have added shares today. I like the huge volume bar.

3. Harrow, Inc. (HROW) continues to rally into its 200-day simple moving average. I recently discussed the insider buying there and am looking ahead to a strong second quarter report. I would like to add as it bases around the 200-day simple moving average.

4. Ocular Therapeutix (OCUL) is moving higher on an FDA deal that allows it to bring a key drug to market faster but delays some of the testing to prove superiority. This removes some uncertainty that has kept the stock pinned down.

5. SSR Mining (SSRM). This gold miner has exploded higher after the Iran deal was announced. I’m looking for gold to continue to trend higher, and SSRM is my vehicle for that trade.

6. The Oncology Institute (TOI) has been a great performer after my entry, following first-quarter earnings. It has been hovering near highs but likely needs some consolidation before another leg higher.

7. Neurocrine Biosciences (NBIX) is a recent buy with support at the $155 area. Goldman Sachs initiated coverage on June 2 and set a price target of $213. The news flow here looks positive and I like the support that is developing.

While I am being more cautious lately, I see plenty of opportunities out there and will be flexible enough to pursue the best ones aggressively.

At the time of publication, Rev Shark was long CLPT, QURE, NEOV, OCUL, SSRM, TOI, NBIX and HROW.