iTeos Therapeutics, Upstart Holdings And Other Big Stocks Moving Lower In Monday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Several US-listed stocks experienced significant declines in Monday's pre-market session. iTeos Therapeutics fell 13.7% after announcing interim data from a study. Upstart Holdings dropped 8.5% following a proposed convertible notes offering. Other notable decliners include Vizsla Silver, Murano Global Investments, Guardant Health, Hyliion Holdings, Instil Bio, Canaan, Solid Biosciences, Nova Ltd., and MicroStrategy.
September 16, 2024 | 12:44 pm
News sentiment analysis
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NEGATIVE IMPACT
Canaan shares fell 5.6% in pre-market trading after a 15% jump on Friday.
The decline may be a correction following the previous session's significant gain.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 100
NEGATIVE IMPACT
Guardant Health shares dipped 8.2% in pre-market trading after a 5% gain on Friday.
The decline could be a market correction after the previous gain.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 100
NEGATIVE IMPACT
Hyliion Holdings shares fell 6.7% in pre-market trading after gaining 8% on Friday.
The decline may be a market correction following the previous session's gain.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 100
NEGATIVE IMPACT
iTeos Therapeutics shares fell 13.7% in pre-market trading after announcing follow-up interim data from the GALAXIES Lung-201 study.
The significant drop in iTeos Therapeutics' stock price is directly linked to the announcement of interim data, which likely did not meet investor expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Murano Global Investments shares tumbled 11.1% in pre-market trading after a 36% jump on Friday.
The sharp decline may be a correction following the previous session's significant gain.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 100
NEGATIVE IMPACT
MicroStrategy shares slipped 2.4% in pre-market trading amid a drop in Bitcoin prices.
MicroStrategy's stock is sensitive to Bitcoin price movements due to its significant Bitcoin holdings.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Nova Ltd. shares fell 3% in pre-market trading.
The decline is part of a broader trend of stock price decreases in the pre-market session.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 100
NEGATIVE IMPACT
Solid Biosciences shares slipped 3% in pre-market trading after a 3% gain on Friday.
The decline could be a market correction after the previous gain.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 100
NEGATIVE IMPACT
Instil Bio shares declined 6.1% in pre-market trading after announcing a global strategy for a bispecific antibody.
The stock decline may be due to investor uncertainty regarding the announced strategy.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Upstart Holdings shares fell 8.5% in pre-market trading after announcing a proposed private offering of $300 million in convertible senior notes.
The decline in Upstart's stock is likely due to investor concerns over dilution from the proposed convertible notes offering.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Vizsla Silver shares fell 11.4% in pre-market trading after announcing a $65 million bought deal financing.
The stock decline is likely due to concerns about dilution from the new financing deal.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100