Six quant strategies, 2,000+ stocks a day: what the screens flagged this week

Examples of insights from Momentum, Volatility-adjusted Momentum (Omega) and Mean Reversion. For further details, subscribe or log in.

Momentum

1. Moderna: its Phase 3 cancer vaccine hit its goal. Intismeran with Keytruda cut melanoma recurrence or death by 42% (presented at ESMO, accepted by the New England Journal of Medicine).
   • The stock is up about 545% this year.
   • The average analyst target is $107 against $208, and William Blair downgraded it on valuation.
2. SELLAS and Iovance are riding the same wave.
   • SELLAS is up over 300% this year on the cancer-vaccine spillover. Its REGAL leukaemia trial readout is a yes-or-no event: 78 of the 80 required events had occurred by May.
   • Iovance presented new data at ESMO and won fast-track status in sarcoma.

3. Kodiak: both of its wet AMD (age-related macular degeneration) drugs matched the standard treatment in their Phase 3 trial, with many patients dosed about every six months.

   • The stock went from $32 to $90 on Sep 28.
   • Regulatory filings are targeted for Q4 2026, and analyst targets run $96–145.

    

Volatility-adjusted momentum

• Dell: the AI server backlog has more than doubled, to $95B from $43B at the start of its financial year. Dell raised its full-year guide to $192B of revenue and $74B of AI servers (from $60B), and Q2 revenue was up 58%.
• Eton Pharmaceuticals: Q2 revenue was $37.6M against $27.1M expected, and EPS $0.43 against $0.19. Zacks upgraded it to Strong Buy on Oct 13, and analyst targets of $62–70 compare with a $51 price.
• Pulse Biosciences: 90% of patients were free of atrial fibrillation (an irregular heartbeat) one year after treatment in a 177-patient study (April). It reached its enrolment target in the US pivotal trial on Oct 7.
• Revolution Medicines: its score is down 44%, but catalysts are ahead. Phase 3 trials in pancreatic cancer are under way, and the average analyst target is $260 against $186.

Mean reversion

1. Five cybersecurity names are really one bet. Radware, Rapid7, Tenable, Netskope and Qualys are all flagged short after the “Black October” rally, when AI models found a wave of critical software flaws.
   • Tenable is up 112% this year.
   • Rapid7 is at $17.60 against a $12.09 average analyst target.
   • Fortinet’s sharp after-hours fall tonight could be an early read-across, but it may have its own causes, so treat that as a lead rather than proof.
2. The Range Resources short is a takeover. EQT agreed on Oct 26 to buy Range for 0.987 EQT shares each, a 21% premium. Range’s price now tracks EQT’s, so there’s no 20-day mean for it to revert to. I’d drop it from the list.

3. LKQ is oversold for a reason. On Oct 23 it reported preliminary Q3 revenue of $3.32B (down from $3.50B) and a net loss. It also withdrew 2026 guidance and replaced its CEO. Full results are out tomorrow, Oct 29, which is a real risk for a long position.