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Assets

KRYS

Krystal Biotech (NASDAQ:KRYS) has sold its Rare Pediatric Disease Priority Review Voucher (PRV) for $100 million. The PRV was awarded following the FDA's accelerated approval of Vyjuvek, a treatment for dystrophic epidermolysis bullosa (DEB). The company estimates about 3,000 total DEB patients in the U.S. KRYS shares are trading higher by 0.15% to $119.58.

Portfolio Pulse from Nabaparna Bhattacharya

August 21, 2023 | 2:39 pm

MPW

Medical Properties Trust Inc (MPW) has outlined a new capital allocation strategy aimed at enhancing its balance sheet, reducing its cost of capital, and increasing long-term shareholder value. The company plans to cut discretionary operating expenses and other costs, continue refinancing, sales, and joint-venture opportunities, and reduce its asset base. It has also declared a quarterly dividend of 15 cents per share. Over the past 18 months, MPW has closed several deals to lower its adjusted funds from operations (AFFO), and has more deals expected to close in H2 2023.

Portfolio Pulse from Lekha Gupta

August 21, 2023 | 2:33 pm

PWR

Quanta Services's (NYSE:PWR) short percent of float has fallen 4.88% since its last report, with 3.99 million shares sold short, which is 3.12% of all regular shares available for trading. It would take traders 5.84 days to cover their short positions on average. The company has less short interest than most of its peers, with an average of 4.07%.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 2:30 pm

LLY

A significant bearish stance has been taken on Eli Lilly (LLY) by a large investor, as observed in the options history. The overall sentiment of big-money traders is split between 46% bullish and 53% bearish. Whales have been targeting a price range from $250 to $600 for Eli Lilly over the last 3 months. The price of LLY is up 1.02% at $552.0. Jefferies, Wells Fargo, Truist Securities, and Barclays have a positive outlook on LLY, while Goldman Sachs maintains a neutral rating.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 2:16 pm

SNOW

A significant bearish stance has been taken on Snowflake (NYSE:SNOW) as evidenced by unusual options activity. The sentiment among big-money traders is split between 41% bullish and 58% bearish. Whales have been targeting a price range from $125.0 to $200.0 for Snowflake over the last 3 months. Barclays, Citigroup, and Mizuho maintain a Buy rating on Snowflake with price targets of $190, $191, and $180 respectively, while Guggenheim downgraded its action to Sell with a price target of $105.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 2:16 pm

MNOV

Zacks Small-Cap Research has set a $26 price valuation for MediciNova, a biopharmaceutical company. The valuation is highly dependent on the continued clinical success of the company's assets and will be adjusted based on future clinical results.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 2:12 pm

APO

ODFL

YELL

Old Dominion Freight Line Inc (ODFL) has offered $1.5 billion to acquire Yellow Corp’s (YELL) 169 terminals out of bankruptcy, exceeding a previous offer from Estes Express Lines of $1.3 billion. The properties will still undergo a marketing and sale process in which higher offers may be accepted. Yellow’s largest shareholder, MFN Partners LP, and Citadel Credit Master Fund offered to provide $142.5 million to fund Yellow’s liquidation. Citadel recently bought Yellow’s term loan from Apollo Global Management (APO).

Portfolio Pulse from Vandana Singh

August 21, 2023 | 2:09 pm

MU

A significant amount of unusual options activity has been detected for Micron Technology (NASDAQ:MU), with a bearish stance being taken by a 'whale' investor. Of the 17 strange trades detected, 47% were bullish and 52% were bearish. The majority of these trades were puts, totaling $990,392, with calls totaling $299,200. The price target range for Micron Technology over the last 3 months has been between $63.0 and $85.0.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 2:01 pm

BKNG

A significant amount of unusual options activity has been observed for Booking Holdings (NASDAQ:BKNG), with a majority of investors taking a bearish stance. Whales have been targeting a price range from $2400.0 to $4200.0 for Booking Holdings over the last 3 months. The company's stock is currently up 0.34% at $3068.71, with RSI indicators suggesting it may be approaching overbought. Several financial institutions have maintained positive ratings on Booking Holdings, with price targets ranging from $3325 to $3855.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 2:01 pm

JNJ

KVUE

Kenvue has an option alert for Sep 15 $25 calls at the ask price of $0.25 for 1000 units, compared to an open interest of 153363. The reference price is $23.24.

Portfolio Pulse from Charles Gross

August 21, 2023 | 1:57 pm