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AZN

EWTX

GSK

TARS

ZLAB

As of May 9, 2024, five health care stocks are identified as overbought based on their RSI values, indicating potential short-term performance issues. Zai Lab, Tarsus Pharmaceuticals, Edgewise Therapeutics, GSK, and AstraZeneca have all shown significant gains in their stock prices recently, but their high RSI values suggest they might be at risk for a pullback. Each company has had positive developments, such as strong quarterly results or strategic board appointments, which contributed to their stock gains.

Portfolio Pulse from Avi Kapoor

May 09, 2024 | 12:44 pm

SLRN

Shao-Lee Lin, founder of ACELYRIN, has stepped down as CEO, with Mina Kim taking over the role and joining the board. SLRN, the company's stock symbol, may see market reactions.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:32 pm

ATNF

180 Life Sciences announced the resignation of James N. Woody as CEO and board member, and Dr. Jonathan Rothbard as Chief Scientific Officer, both on May 7, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:09 pm

PHAT

Phathom Pharmaceuticals announced it has enough capital to fund its operations until the end of 2026, indicating financial stability and potentially reducing immediate fundraising concerns.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:03 pm

DHR

Danaher Corporation has initiated a collaboration with Johns Hopkins University through the Danaher Beacon for Brain Injury Diagnostics project, focusing on the early and precise identification of mild Traumatic Brain Injury (TBI) using new blood-based biomarkers and Beckman Coulter Diagnostics' sensitive technology. This method may also be applicable to diagnosing other neurological conditions.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:00 pm

CRON

Cronos Group has reiterated its financial guidance, projecting its FY24 operating expenses to be between $5 million and $10 million. This reaffirmation of guidance indicates the company's confidence in its financial planning and operational efficiency.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 11:50 am

LI

NIO

XPEV

Nio, Inc. (NASDAQ:NIO) stock surged in premarket trading despite weak U.S. index futures, attributed to the announcement of its new subsidiary brand ONVO and its first model L60, aimed at the low-end market. The L60 is set to compete with Tesla's Model Y. Additionally, Nio celebrated the production of its 500,000th mass-market vehicle. Positive momentum was also supported by China's better-than-expected April trade data. Nio's domestic counterparts, XPeng, Inc. (NYSE:XPEV) and Li Auto, Inc. (NASDAQ:LI), also experienced premarket gains.

Portfolio Pulse from Shanthi Rexaline

May 09, 2024 | 11:48 am

BCRX

BioCryst Pharmaceuticals presented new real-world evidence demonstrating significant reductions in healthcare resource utilization among patients with Hereditary Angioedema (HAE) following the initiation of Orladeyo (Berotralstat). This suggests that Orladeyo is effective in managing HAE, potentially leading to lower healthcare costs and improved patient outcomes.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 11:41 am

NSC

Activist investor Ancora is reportedly set to win some board seats at Norfolk Southern, according to sources cited by Reuters. This development could signal a shift in the company's strategic direction or operational focus, influenced by the activist investor's agenda.

Portfolio Pulse from Charles Gross

May 09, 2024 | 11:39 am

VRNA

Verona Pharma has secured a strategic financing deal worth $650 million with Oaktree and OMERS, significantly extending its cash runway beyond 2026. This financial injection is aimed at supporting the company's ongoing and future projects, ensuring stability and potential for growth in the coming years.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 11:18 am