Market-Moving News for December 11th
Portfolio Pulse from ryanfaloona@benzinga.com
Poseida Therapeutics (PSTX) presented positive early results from its Phase 1 trial of P-BCMA-ALLO1 for multiple myeloma at the ASH Meeting, causing a 73% surge in its stock. Cigna (CI) shares rose 14% after it reportedly dropped plans to acquire Humana and announced a $10 billion buyback. Snap (SNAP) shares increased by 6% following an upgrade by Wells Fargo from Equal-Weight to Overweight and a price target raise from $8 to $22.
December 11, 2023 | 1:56 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Cigna's stock rose 14% after news broke that it is no longer pursuing the acquisition of Humana and announced a substantial increase in its share buyback program.
Cigna's decision to abandon the Humana acquisition removes potential regulatory and financial risks, and the buyback announcement signals confidence in the company's financial health, both of which are positive for the stock.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Poseida Therapeutics' stock surged 73% after presenting positive Phase 1 trial results for its multiple myeloma treatment at the ASH Meeting.
The significant rise in PSTX stock is directly attributed to the positive results from its Phase 1 trial, which are critical for the company's future prospects and investor confidence in its pipeline.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Snap's stock increased by 6% following an upgrade by Wells Fargo from Equal-Weight to Overweight and a new price target of $22.
The upgrade by Wells Fargo likely reflects a positive outlook on Snap's future performance and market position, which can instill investor confidence and drive short-term stock price appreciation.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80