PagerDuty, John Wiley & Sons, Ventyx Biosciences And Other Big Stocks Moving Lower On Tuesday
Portfolio Pulse from Lisa Levin
Several US stocks recorded losses on Tuesday despite the overall market trading higher. Akero Therapeutics shares dipped 63.9% after reporting a 36-week analysis of its Phase 2b SYMMETRY study. 89bio tumbled 37.7%. Ventyx Biosciences fell 22.1% after announcing results from the Phase 2 trial of VTX002. John Wiley & Sons shares dipped 10.4% after reporting the departure of its CEO. Groupon declined 9%. Uranium Royalty Corp fell 7.1%. WK Kellogg Co fell 6.6%. Neumora Therapeutics declined 6% after reporting the appointment of a new executive VP. SunCar Technology Group fell 5.7%. Genelux Corporation fell 5.7%. PagerDuty shares fell 3.7% after announcing a proposed private placement of $350 million of convertible senior notes.
October 10, 2023 | 3:37 pm
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NEGATIVE IMPACT
Akero Therapeutics shares dipped 63.9% after reporting a 36-week analysis of its Phase 2b SYMMETRY study.
The significant drop in Akero Therapeutics' share price is likely due to the results of its Phase 2b SYMMETRY study. Negative results or results that did not meet expectations could have led to a loss of investor confidence, resulting in the stock price drop.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
PagerDuty shares fell 3.7% after announcing a proposed private placement of $350 million of convertible senior notes.
The drop in PagerDuty's share price is likely due to the announcement of a proposed private placement of $350 million of convertible senior notes. This could dilute existing shareholders' equity, leading to a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ventyx Biosciences fell 22.1% after announcing results from the Phase 2 trial of VTX002.
The drop in Ventyx Biosciences' share price is likely due to the results of its Phase 2 trial of VTX002. Negative results or results that did not meet expectations could have led to a loss of investor confidence, resulting in the stock price drop.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
John Wiley & Sons shares dipped 10.4% after reporting the departure of its CEO.
The drop in John Wiley & Sons' share price is likely due to the departure of its CEO. Such changes in key leadership positions can create uncertainty among investors, leading to a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100