- Galaxy Digital Holdings Ltd.(TSX:GLXY) (OTC:BRPHF) provided a preliminary quarter-to-date company update.
- Galaxy Digital has a liquidity position of ~C$1.6 billion, including C$800 million in cash and over C$800 million in net digital assets, with the majority of net digital assets in non-algorithmic stablecoins.
- Galaxy Digital said it maintains a healthy capital and liquidity position, putting it in a good position for long-term growth.
- It expects quarter-to-date net comprehensive income to be a loss of ~C$300 million, bringing Partners’ Capital to C$2.2 billion, a decline of 12% versus March 31, 2022.
- Overall, cryptocurrency market capitalization has dropped 40% since March 31, 2022.
- The company plans to continue to invest in long term growth strategy while considering the current macroeconomic backdrop.
- Galaxy Digital reconfirms the previously-stated commentary that Galaxy Digital Trading experienced no operational or execution-related disruptions.
- Price Action: GLXY shares are trading higher by 16.06% at C$8.96 on TSX, and BRPHF is higher by 16.07% at $6.88 on the last check Friday.
SVB Leerink Maintains Outperform on Intra-Cellular Therapies, Raises Price Target to $50
SVB Leerink analyst Marc Goodman maintains Intra-Cellular Therapies (NASDAQ:ITCI) with a Outperform and raises the price target from $45 to $50.
