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Boston Globe
2 days ago
- Business
- Boston Globe
Will Trump's policies kill Massachusetts' life sciences leadership?
Advertisement Although the industry is centered in eastern Massachusetts, there's a statewide benefit from all the tax dollars those businesses and workers pay. Get The Gavel A weekly SCOTUS explainer newsletter by columnist Kimberly Atkins Stohr. Enter Email Sign Up In all, Massachusetts organizations — including universities, research institutes, and hospitals — received $3.5 billion in funding from the National Institutes of Health. Massachusetts-headquartered companies raised $3.26 billion in venture capital funding. Among all drugs in the development pipeline in the United States, 15 percent were being made by companies headquartered in Massachusetts. But actions taken by President Trump and his administration — cutting funding for scientific research and universities, flirting with tariffs, fanning skepticism about vaccines — threaten to devastate the ecosystem. Today, the industry is at a precipice, and uncertainty abounds. Some companies are already feeling the pinch of terminated federal grants, while others are anxious about what might come. Taken together, Trump's policies could force some companies and scientists to take their money, talents, and products overseas. Advertisement Christopher Locher, CEO of Lowell-based Versatope Therapeutics, which develops a platform to deliver vaccines and therapeutics, said he worries the Greater Boston life sciences ecosystem is 'being flushed down the toilet.' For example, Trump is Trump's funding cuts are already having a large impact on some local companies. Part of the problem is the Trump administration isn't only cutting funding, but it's picking which technologies to fund — in some cases apparently based on politics more than science. Take flu vaccines. The Trump administration recently announced a $500 million campaign to fund the development of a universal flu vaccine, which doesn't require annual updates, using technology being worked on But simultaneously, he cut funding for other work on a universal flu vaccine. Versatope Therapeutics got $14 million in NIH funding and spent five years developing a universal flu vaccine. It had approval from the US Food and Drug Administration to begin clinical trials when Trump terminated the contract's remaining $8 million, with the reason given being 'convenience,' Locher said. Trump also Advertisement Company executives say decisions by Trump officials to disinvest in vaccine-related technology — and concerns about whether government will approve new technology — means it's nearly impossible to find private investment funding to replace lost federal dollars. 'We're faced with bankruptcy in the very near future,' Locher said. Ironically, given Trump's stated commitment to bringing businesses back to the United States, one potential option Locher is eyeing is opening a subsidiary abroad. Conducting clinical trials would be cheaper in another country, whether in Europe, Australia, or China, Locher said, and some countries are offering financial incentives to American companies to relocate. Companies also face a potential workforce brain drain. There have been MassBio officials said China has less rigorous — but faster — safety and research protocols than the US. Australia allows a faster timeline for clinical trials. If regulatory approval of medicines is held up because the FDA is understaffed, companies may seek European regulatory approval instead. The loss of talent to foreign countries will be compounded if the pipeline of local university graduates dries up. One draw for life sciences companies to Boston/Cambridge is the presence of elite schools like Harvard and MIT, with their potential for faculty collaboration and skilled graduates. Advertisement Trump is trying to Chip Clark, CEO at Vibrant Biomedicines in Cambridge, said cuts to university research funding both 'shrink the pipeline of great ideas' that form the basis for many biotech startups and translate to fewer available scientists. Clark said the administration's policies 'seem like a deliberate attempt to try to cede scientific leadership to Europe and Japan and Korea and China. ... They will be delighted to capitalize on our talent, technology, and investment capital to make their robust biotech sectors grow and ultimately compete successfully against the US industry,' he said. Don Ingber, founding director of the Wyss Institute for Biologically Inspired Engineering at Harvard University, said he has postdocs with US visas applying for jobs in Europe, and others who were accepted to work at Harvard but are going elsewhere. 'The fact that places like Harvard and MIT and American universities are magnets for the best and brightest from around the world is what's driven our technology economy and certainly the Boston/Cambridge ecosystem,' Ingber said. 'With this uncertainty, I fear we'll lose a generation.' Ingber, who was forced to stop work on two government-funded projects on drugs designed to prevent injury from radiation exposure, compared administration policies to 'eating seed corn' needed to grow crops. Advertisement Trump's vendetta will undermine one of the most vibrant state economies in the country and set back American science by years. And it's not just eastern Massachusetts that will pay a price; the entire country will. As Ingber noted, it might take years to see the impact of medicines or technologies that aren't developed because of these shortsighted cuts. Editorials represent the views of the Boston Globe Editorial Board. Follow us
Boston Globe
25-04-2025
- Business
- Boston Globe
Eastern Bank is acquiring HarborOne, expanding in Mass. and R.I.
Eastern Bank, the largest Massachusetts-headquartered bank with 109 locations across eastern Massachusetts, southern and coastal New Hampshire, Rhode Island, and Connecticut, will take over HarborOne's 30 banking centers in Massachusetts and Rhode Island. Eastern has about $25 billion in assets, while HarborOne has $5.7 billion. Advertisement After the merger, HarborOne CEO Joseph Casey and one other HarborOne director are expected to be join Eastern Bank's board of directors, according to the release. Maren Halpin can be reached at
Yahoo
30-03-2025
- Business
- Yahoo
Is Thermo Fisher Scientific (TMO) The Most Expensive Stock Insiders Are Dumping In March?
We recently published a list of . In this article, we are going to take a look at where Thermo Fisher Scientific Inc. (NYSE:TMO) stands against other most expensive stocks insiders are dumping in March. After being in the green for a few trading sessions, the broader market index slid 0.8% on Wednesday, and blue-chip companies declined 0.1%. The NASDAQ Composite was down 1.6% in the early afternoon. On Tuesday, Trump provided an update on tariffs, saying they will likely be more 'lenient than reciprocal,' suggesting a more relaxed approach, reports CNBC. As investors process daily market developments, uncertainty continues to impact the market. In these periods, insider trading often attracts attention, as purchases of company stock by executives may suggest confidence in the company's future. However, insider selling doesn't necessarily imply a lack of faith—it may be driven by personal financial needs or a desire for diversification. Executives frequently rely on pre-established plans, such as 10b5-1, to maintain transparency. While insider trading can provide useful insights, it should be evaluated in the context of a company's financial health, market trends, and industry changes. What are some of the most expensive stocks insiders have been selling this month so far? To find out, we used Insider Monkey's insider trading stock screener, focusing only on stocks where at least three insiders had sold shares in March. From there, we ranked the 20 stocks with the highest average price per share in times of sales. Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). With each stock, we note the average price per share of these sales and the stock's market capitalization. An engineer at a workbench surrounded by automotive parts, tools, and microchips. Market Capitalization: $194.04 billion Thermo Fisher Scientific Inc. (NYSE:TMO) provides a wide range of life sciences solutions, analytical instruments, diagnostics, laboratory products, and biopharma services globally. Its offerings include products for biological research, drug and vaccine production, clinical diagnostics, and laboratory research across various industries. The Waltham, Massachusetts-headquartered company operates under several brands such as Thermo Scientific, Invitrogen, and Applied Biosystems. For the full year 2024, Thermo Fisher (NYSE:TMO) disclosed revenue of $42.88 billion, flat compared to 2023. Full year GAAP diluted earnings per share (EPS) grew 7% to $16.53. In recent developments, Thermo Fisher (NYSE:TMO) launched the Thermo Scientific Vulcan Automated Lab, a system designed to improve productivity and yield, and reduce costs for semiconductor manufacturers. The solution aims to address the growing demand for advanced metrology data in semiconductor manufacturing as technologies become more complex. Marc N. Casper, CEO of Thermo Fisher, emphasized the company's expertise in electron microscopy and AI to help semiconductor manufacturers enhance efficiency. In March, three insiders, including the chairman and CEO, sold around $12.28 million worth of Thermo Fisher shares at an average price of $520.17 per share. The stock currently trades at $514.34 per share, having lost 1.13% year-to-date, and 9.58% over the past 12 months. Based on 18 Wall Street analysts' ratings, Thermo Fisher (NYSE:TMO) stock is a 'Strong Buy' with a price target of $662.00. According to TipRanks, the average price target represents a 28.71% upside from the latest price. Thermo Fisher (NYSE:TMO) is also one of the . Overall, TMO ranks 8th on our list of most expensive stocks insiders are dumping in March. While we acknowledge the potential of TMO our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TMO but that trades at less than 5 times its earnings, check out our report about the . READ NEXT: and . Disclosure: None. This article is originally published at . Sign in to access your portfolio
Yahoo
28-03-2025
- Business
- Yahoo
Is CPS Technologies Corporation (CPSH) the Cheapest Stock Insiders Are Buying In March?
We recently published a list of . In this article, we are going to take a look at where CPS Technologies Corporation (NASDAQ:CPSH) stands against other cheapest stocks insiders are buying in March. After solid gains Monday, the broader market index and blue chip companies traded flat Tuesday, while the NASDAQ Composite rose 0.2%. Monday's enthusiasm came from hopes of looser U.S. tariffs. Investors mostly ignored the March consumer confidence data released on Tuesday, which showed a sharp decline in U.S. consumers' short-term outlook on income, business, and job conditions, reports CNBC. 'Sentiment continues to wane among investors, consumers and businesses as economic concerns and economic policy uncertainty takes its toll,' said Bret Kenwell, U.S. investment analyst at eToro. 'Until there's more certainty on the tariff and macro front, sentiment and confidence remain vulnerable.' As investors navigate daily market changes, uncertainty remains a persistent factor. Insider trading tends to attract attention during these periods, as purchases of company stock by executives may suggest optimism about the company's future. However, insider selling doesn't necessarily signal a lack of confidence—it could simply be for personal financial reasons or to diversify holdings. Many executives use pre-established plans, such as 10b5-1, to maintain transparency. While insider trading can provide useful insights, it's important to evaluate it alongside a company's financial stability, broader market trends, and industry dynamics. What are some of the cheapest stocks insiders have been buying this month so far? To find out, we used Insider Monkey's insider trading stock screener, focusing only on stocks where at least two insiders had purchased shares in March. From there, we ranked the 10 stocks with the lowest average price per share. Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). With each stock, we note the average price per share of these purchases and the stock's market capitalization. A close-up of a technician's hands soldering hybrid circuits into hermetic packages. Market Capitalization: $24.84 million CPS Technologies Corporation provides advanced material solutions for industries like transportation, automotive, aerospace, and defense. The Norton, Massachusetts-headquartered company specializes in metal matrix composites, which are used in various applications such as electric vehicles, radar, and military armor. CPS Technologies sells its products to microelectronics systems companies and operates globally in the U.S., Europe, and Asia. For the fourth quarter of 2024, CPS Technologies reported revenue of $5.9 million versus $6.7 million in the prior-year period. The company noted that the revenue drop reflects the previously announced fulfillment of its HybridTech Armor contract with Kinetic Protection for the U.S. Navy. Net loss was $1.0 million or $0.07 loss per diluted share, which compares to net income of $200,000 or $0.01 per diluted share in the same period of 2023. In March, two insiders acquired approximately $42,030 worth of CPS Technologies shares at an average price of $1.56 per share. Currently, the stock trades at $1.71 per share, having gained 5.93% year-to-date. Over the past 12 months, CPS Technologies Corporation shares dropped 7.82%. Analyst coverage for CPS Technologies stock is currently limited. Overall, CPSH ranks 14th on our list of cheapest stocks insiders are buying in March. While we acknowledge the potential of CPSH our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CPSH but that trades at less than 5 times its earnings, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
