Why Ovid Therapeutics Shares Are Trading Lower By 19%? Here Are Other Stocks Moving In Monday's Mid-Day Session
Portfolio Pulse from Avi Kapoor
Ovid Therapeutics shares dropped 65.7% after Takeda's Skyline study in Dravet syndrome missed its primary endpoint. Other notable stock movements include Interactive Strength, Mustang Bio, Allego, and Scinai Immunotherapeutics among gainers, and Aerovate Therapeutics, Kaival Brands Innovations, and Workhorse Group among losers.
June 17, 2024 | 5:21 pm
News sentiment analysis
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NEGATIVE IMPACT
Aerovate Therapeutics shares dipped 90.8% to $2.26 after reporting 24-week topline results from its Phase 2b study.
The disappointing topline results from Aerovate Therapeutics' Phase 2b study have led to a significant drop in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Kaival Brands Innovations shares dipped 33% to $3.9950 after a significant jump on Friday.
The sharp decline in Kaival Brands Innovations' stock follows a significant jump, indicating potential volatility and profit-taking by investors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Ovid Therapeutics shares dropped 65.7% to $1.1285 after Takeda’s Skyline study in Dravet syndrome missed its primary endpoint.
The failure of Takeda’s Skyline study in Dravet syndrome is a significant setback for Ovid Therapeutics, leading to a sharp decline in its stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Takeda Pharmaceutical announced topline data from its SKYLINE and SKYWAY Phase 3 studies of Soticlestat for Dravet syndrome and Lennox-Gastaut syndrome.
The announcement of the Skyline study missing its primary endpoint could negatively impact Takeda's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
NEGATIVE IMPACT
Workhorse Group shares declined 26% to $2.22 after announcing a 1-for-20 reverse stock split.
The announcement of a reverse stock split has negatively impacted Workhorse Group's stock, reflecting investor concerns.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Allego shares gained 126.4% to $1.6750 after Meridiam announced a tender offer for all outstanding shares.
The tender offer by Meridiam for Allego shares has significantly boosted investor confidence, leading to a sharp rise in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Mustang Bio shares jumped 145% to $0.32 after announcing positive safety and efficacy data from its Phase 1/2 clinical trial.
Positive clinical trial results significantly boosted Mustang Bio's stock, indicating strong market confidence in its potential.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Scinai Immunotherapeutics shares gained 92.6% to $6.74 after receiving a non-binding Letter of Intent from the European Investment Bank.
The non-binding Letter of Intent from the European Investment Bank has positively impacted Scinai Immunotherapeutics' stock, reflecting investor optimism.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Interactive Strength shares climbed 148% to $7.07 after dipping 19% on Friday.
The significant rebound in Interactive Strength shares suggests strong investor interest following a previous dip.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60