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SELB

Selecta Biosciences Inc (NASDAQ:SELB) has announced a strategic initiative to maximize stockholder value by focusing on its gout treatment candidate, SEL-212. The company plans to suspend further investment in other pipeline assets to focus on potential licensing and corporate development activities. This is expected to extend its cash runway into 2027. Selecta will continue to develop SEL-212 in partnership with Sobi, with a BLA submission expected in the first half of 2024. The company will also continue the development of IdeXork under a licensing agreement with Astellas Gene Therapies.

Portfolio Pulse from Vandana Singh

August 17, 2023 | 5:04 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) has announced an agreement to sell its Hershey Drive facility in Smiths Falls, Ontario to Hershey Canada, Inc. for approximately C$53 million in cash. This move is part of the company's transformation to an asset-light operating model. The company recently reported its first-quarter financial results with quarterly sales of C$109.00 million, beating the consensus estimate of C$67.98 million.

Portfolio Pulse from Erica Kollmann

August 17, 2023 | 5:02 pm

HES

Over the past 5 years, Hess (NYSE:HES) has outperformed the market by 10.76% on an annualized basis, producing an average annual return of 19.73%. If an investor had bought $1000 of HES stock 5 years ago, it would be worth $2,477.20 today.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 5:01 pm

ATVI

Activision Blizzard (NASDAQ:ATVI) has outperformed the market over the past 10 years, producing an average annual return of 18.52%. If an investor had bought $1000 of ATVI stock 10 years ago, it would be worth $5,414.03 today.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 5:01 pm

SPKY

UVXY

Stock market volatility increased on Thursday due to major stock indices breaking down through the 50-day moving average. The Convexity Daily 1.5x SPIKES Futures ETF (SPKY) rose slightly in response to the bearish movement across stocks. SPKY is a 1.5x leveraged fund that follows the SPIKES Futures Short-Term Index, similar to the ProShares Ultra VIX Short Term Futures ETF (UVXY). The Federal Reserve’s monthly minutes revealed further monetary tightening could be on the horizon, which could add further downside pressure to the stock market.

Portfolio Pulse from Melanie Schaffer

August 17, 2023 | 4:56 pm

BGS

SBRA

Jenny Harrington, live on CNBC, announced that she has increased her investments in Sabra Health Care REIT and B&G Foods.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 4:51 pm

JD

A significant bullish stance has been taken on JD.com (NASDAQ:JD) as evidenced by unusual options activity. The overall sentiment of these big-money traders is split between 64% bullish and 35% bearish. The whales have been targeting a price range from $27.5 to $50.0 for JD.com over the last 3 months. B of A Securities, Mizuho, and Citigroup have all maintained their Buy rating on JD.com with price targets of $51, $60, and $64 respectively.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 4:46 pm

BKNG

A significant bearish stance has been taken on Booking Holdings (NASDAQ:BKNG) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is split between 21% bullish and 78% bearish. The whales have been targeting a price range from $2740.0 to $3800.0 for Booking Holdings over the last 3 months. The price of BKNG is currently down -1.38% at $3151.17. Several financial institutions have maintained their positive ratings on Booking Holdings with price targets ranging from $2800 to $3740.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 4:45 pm

C

A significant investor has taken a bearish stance on Citigroup (NYSE:C), with 69% of recent trades indicating bearish expectations. The trades include 3 puts totaling $502,605 and 10 calls totaling $401,857. The targeted price range for Citigroup over the last 3 months has been $32.5 to $65.0. The current price of Citigroup is $42.51, down 0.3%, and the RSI indicators suggest the stock may be oversold.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 4:33 pm

SHW

Sherwin-Williams (NYSE:SHW) has outperformed the market over the past 10 years by 6.57% on an annualized basis, producing an average annual return of 16.89%. If an investor had bought $1000 of SHW stock 10 years ago, it would be worth $4,738.12 today.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 4:31 pm