Why Adial Pharmaceuticals Shares Are Trading Lower By Around 20%? Here Are Other Stocks Moving In Friday's Mid-Day Session
Portfolio Pulse from Lisa Levin
The article lists the stocks that gained and lost the most in Friday's mid-day session. Among the gainers were XORTX Therapeutics, Lipella Pharmaceuticals, and Catalyst Biosciences, while the losers included WEBUY GLOBAL, SolarEdge Technologies, and Processa Pharmaceuticals. Factors influencing these movements include FDA clearances, strategic appointments, acquisitions, and financial results.
October 20, 2023 | 5:45 pm
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NEGATIVE IMPACT
SolarEdge Technologies shares fell 28.3% to $81.68 after the company issued preliminary third-quarter revenue results below estimates and lowered its non-GAAP gross margin forecast.
SolarEdge Technologies' share price fell after the company issued a weak Q3 outlook, which likely disappointed investors and led to a sell-off.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
WEBUY GLOBAL shares tumbled 33.7% to $3.5407 after pricing $15.2 million initial public offering of 3.8 million ordinary shares at $4 per share.
The drop in WEBUY GLOBAL's share price could be due to the pricing of its initial public offering, which may have been viewed as overvalued by the market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Lipella Pharmaceuticals climbed 58.7% to $2.46 after announcing FDA clearance of IND for LP-310 for oral lichen planus.
The FDA clearance for Lipella Pharmaceuticals' IND for LP-310 for oral lichen planus likely boosted investor confidence, leading to a rise in the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
XORTX Therapeutics shares jumped 60.2% to $0.5101.
The company's shares jumped significantly, indicating a positive market sentiment towards the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100