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$ENZ - Up 19% Pre-Market/ Current Price $1.64
Completes Sale of Clinical Laboratory to Labcorp
For a purchase price of $113.2m in cash
2.30 gonna dump here!
They sold all there biggest asset and left with nil. This will be another example of gnln and a ton of others that sell headquarters, buildings, a big development successful website what ever it is. Yes they got cash but does not have much else and will bleed and imo will do a r/s eventually.
Took a quick 8% gain $2.20s to
$2.40s. Sounds like they are cash rich temporarily. Kept only 10% for tomorrow exit.
My posts are limited but past technicals blew through most resistance levels after hours
Insiders started loading up in the $1.10s around 12pm says the money flow
https://www.barchart.com/stocks/quotes/ENZ/technical-chart?plot=CANDLE&volume=total&data=I:5&density=L&pricesOn=1&asPctChange=0&logscale=0&im=5&indicators=BBANDS(20,2);SMA(20);SMA(50);SMA(100);SMA(200);ACCUM;AROONOSC(25);ATR(14);CHKMF(20);STOFA(14,3);MFI(14,100);MACD(12,26,9);RSI(14,100);TRIX(3.3);ADXMOD(14);AROON(25)&sym=ENZ&grid=1&height=210&studyheight=100
Type Value
resist. 2.42
resist. 2.37
resist. 2.31
resist. 2.25
resist. 2.16
resist. 2.08
resist. 1.64
resist. 1.44
resist. 1.22
News out .On March 16, 2023, Enzo Biochem, Inc., a New York corporation (the “Company”), Enzo Clinical Labs, Inc., a New York corporation (the “Subsidiary” and, together with the Company, the “Seller”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Laboratory Corporation of America Holdings, a Delaware corporation (the “Buyer”). Pursuant to the Purchase Agreement, the Seller has agreed to sell certain assets and assign certain liabilities of its clinical labs business (the “Business”) to the Buyer in exchange for approximately $146,000,000 in cash (subject to certain adjustments), on and subject to the terms and conditions set forth therein (such transaction, the “Transaction”).
Anyone--ANYONE--who has watched this stock since 2000 KNOWS that ENZ has been a protected family enterprise set up to enrich management way beyond any reasonable compensation using shareholder return as a metric.
And this long overdue challenge to their egregious mismanagement and looting of the company is the ONLY way shareholders will see any reasonable return.
Got to a chart service that goes back 20 years and see what inept management does to a company.
Just the past year--when biotechs and medical stocks have done VERY well, here is the ENZ chart:
It is beyond me why ANY shareholder not related to the Rabanni family or not on the board would not support this activist investor.
* * $ENZ Video Chart 03-16-2021 * *
Link to Video - click here to watch the technical chart video
180 Degree Capital Corp. Issues Open Letter to the Board and Shareholders of Enzo Biochem, Inc.
9:00 AM ET, 02/04/2021 - GlobeNewswire
MONTCLAIR, N.J., Feb. 04, 2021 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. (NASDAQ:TURN) (“180” and the “Company”), today issued the following open letter to the board and shareholders of Enzo Biochem, Inc. (“ENZ”).
To the Board of Directors and fellow shareholders of ENZ,
180 is a publicly traded closed-end fund focused on investing in micro capitalization public companies with a constructive, collaborative and collegial activist approach. We currently own 1,147,969 shares, or 2.4%, of Enzo Biochem, Inc. (“ENZ”), and we believe the company is extremely undervalued.
I recently sent an email to the ENZ’s Board of Directors (the “Board”) to set up a time to speak about the results of ENZ’s recent proxy vote and overall corporate governance at the company. My email and request have unfortunately thus far gone unanswered. I can only assume that the Board is hard at work trying to create value for its shareholders rather than speaking to shareholders. To that point, we are deeply concerned that the current management team is completely incapable of generating a return for its shareholders judging from performance of ENZ’s stock during its tenure. As you can see from the following chart of total return1, there is little for the Board to applaud, as ENZ’s total return for shareholders, under the leadership of Mr. Rabbani, has woefully underperformed and is squarely in the bottom decile of performance among its peers.
TOTAL RETURN 1YR-2020 3YR 5YR
Enzo Biochem, Inc. 12.4% (61.7%) (40.5%)
Russell 2000 Index 30.2% 37.1% 114.4%
Russell 2000 Index Health Care 58.0% 73.4% 190.9%
Russell 2000 Index Biotechnology Subsector 70.1% 75.4% 241.4%
And yet, somehow, the Board overseeing this terrible performance has seen it fit to approve what we believe to be egregious compensation for Mr. Rabbini, as highlighted in the chart below.
Base pay Option Performance Stock Non-Equity Incentive All Other Total
Salary Awards Units Award Plan Compensation Compensation Compensation
2020 $611,000 $112,400 $69,740 $500,000 $194,661 $1,487,801
2019 $611,000 $135,296 $70,000 $500,000 $190,308 $1,506,604
2018 $611,000 $137,340 $44,200 $500,000 $184,132 $1,476,672
2017 $585,802 $180,150 $0 $575,000 $191,044 $1,531,996
2016 $555,478 $87,600 $0 $575,000 $189,427 $1,407,505
Total $2,974,280 $652,786 $183,940 $2,650,000 $949,572 $7,410,578
The Board’s apparent belief that $7.4 million in cash, stock options and other forms of compensation properly reflects Mr. Rabbini’s performance as CEO raises what we believe are troubling questions about ENZ’s overall corporate governance.
We believe the case for how abhorrent the oversight of ENZ has been throughout the history of this Board and the current management team is clear. ENZ’s management and Board have been the recipient of what we consider to be very sober and thoughtful public criticism from a significant portion of its shareholders. In our view, ENZ’s latest proxy contest ended exactly the way it should, with a clear mandate from shareholders to enact change in the corporate governance of the company. We note this mandate came at a significant cost to shareholders, through the wasteful spending of $4 million on legal fees, in an attempt to resist shareholders’ efforts to push for reform. ISS could not have been more explicit in their denunciation of ENZ’s “late-stage entrenchment maneuvers” that ENZ proposed early last year.
As noted in a press release issued by Roumell Asset Management, LLC on December 31, 2020, Glass Lewis was as direct as it could be in advance of the board meeting on January 4, 2021, noting that “hallmarks of the [B]oard's regressive methodologies remain, in our view, disconcertingly evident, from a muddled representation of refreshment to plainly questionable management of compensation programs to seemingly inflexible reverie for Elazar Rabbani, a chairman and CEO who still cannot be bothered to participate in calls with the Company's owners and investment community […]" (emphasis added).
"We would again emphasize our general view that [Roumell] has otherwise presented sufficient cause to suggest shareholders would benefit from the replacement of certain incumbent candidates, including Dr. Rabbani, in lieu of maintaining a status quo which continues to lean on, in our view, regressive governance protocols to deflect investor feedback fueled, in no small part, by Enzo's dismal returns profile" (emphases added).
At the referenced meeting of shareholders, votes were cast en masse to denounce the egregious and deplorable treatment of shareholders for the benefit of management by not electing Mr. Rabbini to another term as a director. Mr. Rabbani has submitted his resignation, and as of yet, the Board has still not accepted it. We are deeply concerned that the Board may choose to ignore not only the opinion of the two most respected corporate governance organizations in the country, but also the will of the majority of ENZ’s shareholders. This isn’t a game. ENZ’s shareholders voted in a clear and unambiguous manner and it is your responsibility as Board members to act immediately on their behalf.
To be clear, we do not hold the two new directors, Dr. Ian B. Walters and Dr. Maria Tagliaferri, responsible for the pathetic performance of prior board members or the current management team. We do, however, absolutely hold them and the rest of the current Board accountable for immediately doing what is necessary today, as a result of the recent vote.
Bill Parcells famously said, “You are what your record says you are.” The track record at Enzo is abysmal, and we believe it is about time that the Board takes action and shows accountability to its shareholders. In our view this is a settled issue at this point. We expect you to immediately accept the resignation of Mr. Rabbani. In addition, you should ensure the company has a proper Board that works for the shareholders, find the appropriate new leadership for the business, and determine the best path forward, including all potential strategic alternatives. This falls in your lap. Your shareholders, including 180, are watching. The watchdog governance organizations are watching. Despite your decision to not respond to our efforts to talk about the business with you, we will not remain silent and on the sidelines. We will be activists and take what steps we feel are appropriate to hold accountable those that have caused meaningful destruction of shareholder value and seek to reinstate proper corporate governance at ENZ.
We welcome the opportunity to have constructive conversations with the Board at its earliest convenience.
Regards,
Kevin RendinoChief Executive Officer, 180 Degree Capital Corp.
1Total returns based on closing prices as of January 29th, 2021
THAT'S A GOOD ONE!!!
Will definitely grab this to pair with my ENZC portfolio!
I find it interesting how this company's Ticker "mirrors" ENZC.
What I like best about Enzo Therapeutics ENZ is 1). they have a very LOW O/S & Float; 2), are highly diversified in their products, services, and customer base; 3). trades on the NYSE; 4). has a 61% institutional ownership; and 5). an insider holding of 7.65%. That's a "winning hand" if there ever was one!
A PPS of $10 is but only one post stop on its way to a much higher trading range $100+ IMO. This one hasn't even begun to make any of its major runs yet, but it will....multiple times moving forward!
Thanks for mentioning this one. I've had my eye on it for sometime and will likely initiate a position this week and continue adding throughout 2021 along with ENZC! A DOUBLE WINNER!!
O/S: 47.9M
Float: 35.17M
Current PPS: $2.03 (11/29/20)
52-Week Range
1.56 -4.85
3/18/20-3/9/20
ENZ Company Overview
Enzo Biochem, Inc. is a Bioscience company focusing on delivering and applying technology capabilities to produce products and services.
The Company's segments include Enzo Clinical Labs, Enzo Life Sciences and Enzo Therapeutics. Enzo Clinical Labs is a clinical reference laboratory providing a range of clinical services to physicians, medical centers, other clinical labs and pharmaceutical companies.
It offers a menu of molecular and other clinical laboratory tests or procedures. Enzo Life Sciences manufactures, develops and markets products and tools to clinical research, drug development, and Bioscience research customers.
Enzo Therapeutics is a Bio-Pharmaceutical venture that develops multiple approaches in the areas of gastrointestinal, infectious, ophthalmic and metabolic diseases. Its products in the development pipeline include a range of assays for detection of various women's health infectious agents, as well as for use in the identification of pathogens for other markets.
Headquarters
60 EXECUTIVE BLVD
Farmingdale, NY 11735
http://www.enzo.com/
*ENZ* $3.50 TARGET price today WOOHOOOOOOOOOOOOOO
* * $ENZ Video Chart 07-08-2020 * *
Link to Video - click here to watch the technical chart video
* * $ENZ Video Chart 03-11-2020 * *
Link to Video - click here to watch the technical chart video
* * $ENZ Video Chart 03-10-2020 * *
Link to Video - click here to watch the technical chart video
I bought 30k shares at .43c in CP*E. Once the hype on corona the markets will rebound a 100 fold. ENZ will do well also look at the other one AYT*U
Right on the money. 5.50 in PM today.
I wonder when it will be back to $12
ENZ 4.44 ah
they are running every squeeze they can
ENZ$ OPK$ INO$ WOOHOOOOOOOOOOOOOOO WOW
ENZ$$$$ $10 TARGET PRICE WOOHOOOOOO
Very quiet here... Very good news... Bought 1k shares at 3.15 wonder if this can hit 5+ next week
NYC mayor live on TV now waiting on results for 40 test. Such a small number for a city of 13 million they need to get this ramped-up
Coronavirus is bound to be mentioned during their earnings call.
I think it needs to get found will take a little time. Just popping up on Radars this morning
What are you thinking? I don't see this honestly flying out the gate. I hate to see a scam like NNV* actually doing well and the ones that are actually doing something like test kits and studies are doing shit
NEW YORK, NY / ACCESSWIRE / March 6, 2020 / Enzo Biochem, Inc. (ENZ) will be discussing their earnings results in their 2020 Second Quarter Earnings call to be held on March 6, 2020 at 8:30 AM Eastern Time.
To listen to the event live or access a replay of the call - visit
https://www.investornetwork.com/event/presentation/60493
To receive updates for this company you can register by emailing info@investornetwork.com or by clicking get investment info from the company's profile
Im in at 2.5 looking for 4 at max. They will put out an offering next week mid week
headed lower
2-12-20 closing price $2.19
It is an open secret that ENZ management has used the public company as their personal piggy bank for personal expenses (that are approved by the insiders) and overcompensation (especially when considering the lack of shareholder value enhancement or lack thereof).
Follow the money ...right into that family's pockets.
ENZO management I hope will be throw out at the January 6 stockholders meeting. I voted against them and I urge everybody to do the same. They use the company as a Piggy Bank, they pick up incredible benefits, huge salaries and bonuses and the company hardly manage to survive. Hopefully one of this firms which have so much at stake, will be came an active advocate to bring sense to the board. Mr. Rabani should be retired asp. I hope this will happen at this meeting.
Nice trend at ENZ for a change.
Acquisition, approval or break through? This volume is indicating something is going on.
7 "Cheap Stocks" to buy for Big Bucks
http://investorplace.com/2016/05/seven-cheap-stocks-to-buy/8/#.VzEE23bmpFo
$ENZ recent news/filings
bullish 4.82
bull flag breakout
## source: finance.yahoo.com
Sun, 13 Dec 2015 16:33:02 GMT ~ Enzo Biochem, Inc. (ENZ): Are Hedge Funds Right About This Stock?
read full: http://www.insidermonkey.com/blog/enzo-biochem-inc-enz-are-hedge-funds-right-about-this-stock-400078/
*********************************************************
Fri, 11 Dec 2015 18:04:39 GMT ~ ENZO BIOCHEM INC Financials
read full: http://finance.yahoo.com/q/is?s=enz
*********************************************************
Thu, 10 Dec 2015 22:18:53 GMT ~ ENZO BIOCHEM INC Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits
read full: http://biz.yahoo.com/e/151210/enz8-k.html
*********************************************************
Tue, 08 Dec 2015 12:33:53 GMT ~ ENZO BIOCHEM INC Files SEC form 10-Q, Quarterly Report
read full: http://biz.yahoo.com/e/151208/enz10-q.html
*********************************************************
Mon, 07 Dec 2015 22:24:38 GMT ~ ENZO BIOCHEM INC Files SEC form 8-K, Results of Operations and Financial Condition, Regulation FD Disclosure
read full: http://biz.yahoo.com/e/151207/enz8-k.html
*********************************************************
$ENZ charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$ENZ company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/ENZ/company-info
Ticker: $ENZ
OTC Market Place: Not Available
CIK code: 0000316253
Company name: Enzo Biochem, Inc.
Incorporated In: NY, USA
$ENZ share structure
## source: otcmarkets.com
Market Value: $220,209,820 a/o Dec 14, 2015
Shares Outstanding: 46,069,000 a/o Dec 02, 2015
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.01
$ENZ extra dd links
Company name: Enzo Biochem, Inc.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=ENZ+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=ENZ+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=ENZ+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/ENZ/news - http://finance.yahoo.com/q/h?s=ENZ+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/ENZ/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/ENZ/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=ENZ+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/ENZ
DTCC (dtcc.com): http://search2.dtcc.com/?q=Enzo+Biochem%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Enzo+Biochem%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Enzo+Biochem%2C+Inc.&x=0&y=0
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/ENZ
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000316253&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/ENZ/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/ENZ/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=ENZ&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=ENZ
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/ENZ/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=ENZ+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=ENZ+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=ENZ
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=ENZ
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=ENZ+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/ENZ/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=ENZ+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/ENZ.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=ENZ
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/ENZ/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/ENZ/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/ENZ
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/ENZ
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/ENZ:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=ENZ
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=ENZ
$ENZ DD Notes ~ http://www.ddnotesmaker.com/ENZ
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