Why Seelos Therapeutics Shares Are Trading Lower By 31%? Here Are Other Stocks Moving In Thursday's Mid-Day Session
Portfolio Pulse from Lisa Levin
The article reports on the stock movements in Thursday's mid-day session. Notable gainers include MSP Recovery, Near Intelligence, Murphy Canyon Acquisition, TradeUP Acquisition, Neptune Wellness, Inspire Veterinary Partners, Splunk, Solowin Holdings, AgriFORCE Growing Systems, Movella Holdings, Safe & Green Holdings, The Dixie Group, Calliditas Therapeutics, Applied Molecular Transport, Ainos, and Exscientia. Notable losers include Travere Therapeutics, Seelos Therapeutics, QuantaSing Group, Cazoo Group, Cheche Group, Comera Life Sciences, Mondee Holdings, TKO Group Holdings, Opendoor Technologies, TransCode Therapeutics, LanzaTech Global, WM Technology, CF Acquisition, WW International, ZipRecruiter, 36Kr Holdings, Evotec, Avinger, fuboTV, Affirm Holdings, Charles River Laboratories, Elutia, and Broadcom.
September 21, 2023 | 5:16 pm
News sentiment analysis
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NEGATIVE IMPACT
Seelos Therapeutics shares fell by 31.2% after the company announced a $4.5 million registered direct offering of common stock and warrants to purchase common stock. Guggenheim downgraded Seelos Therapeutics from Buy to Neutral.
The announcement of a registered direct offering often leads to a decrease in share price as it dilutes the value of existing shares. Additionally, the downgrade from Guggenheim likely contributed to the negative sentiment around the stock.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Travere Therapeutics shares dipped by 41.4% after the company announced topline two-year confirmatory secondary endpoint results from its head-to-head Phase 3 PROTECT Study of Filspari in IgA nephropathy versus Sanofi's Avapro.
The negative reaction to the company's announcement of topline results from its Phase 3 PROTECT Study suggests that the results did not meet investor expectations.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Splunk shares jumped by 20.8% after Cisco Systems agreed to acquire the company for $157 per share in cash, representing approximately $28 billion in equity value.
The acquisition announcement by Cisco Systems has led to a positive sentiment around Splunk's stock, as the acquisition price represents a premium on the current share price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100