Streetbeat News

Earnings

MTEM

Molecular Templates, Inc (NASDAQ:MTEM) shares experienced volatility after presenting positive interim data from its MT-6402 Phase I study in patients with PD-L1+ solid tumors. The data showed MT-6402's unique action and good tolerance, with no severe adverse events. CEO Eric Poma highlighted the drug's potential in treating checkpoint-experienced head and neck cancer patients. The stock saw heavy trading, with over 1.47 million shares traded, significantly above its 100-day average.

Portfolio Pulse from Erica Kollmann

April 09, 2024 | 4:37 pm

VVOS

Vivos Therapeutics, Inc. (NASDAQ:VVOS) shares dropped after filing a prospectus for the resale of up to 1.73 million shares by selling shareholders. The company could receive $8.4 million if all warrants are exercised. Vivos also announced Medicare reimbursement approval for its CARE oral medical devices and reported Q4 losses of $3.05 per share, missing estimates by 59.69%, with sales of $3.248 million also missing estimates.

Portfolio Pulse from Erica Kollmann

April 09, 2024 | 4:36 pm

CRON

Cronos Group Inc (NASDAQ:CRON) shares fell by 2.78% to $2.63, influenced by Tilray's worse-than-expected Q3 results. Tilray reported a 16.8% increase in net revenue, with significant growth in beverage-alcohol and global cannabis net revenue. Despite Tilray's growth, the cannabis sector, including Cronos, experienced a downturn. Cronos does not pay dividends but may engage in buyback programs as a form of shareholder value return. The upcoming Benzinga Cannabis Capital Conference in Florida could be a significant event for cannabis industry stakeholders.

Portfolio Pulse from Henry Khederian

April 09, 2024 | 4:34 pm

ACRV

IVP

TLRY

VINC

In Tuesday's intraday session, several healthcare stocks experienced significant movements. Acrivon Therapeutics led the gainers with a 72% increase, while Vincerx Pharma saw the largest drop among the losers, declining by 74.6%. Notable mentions include Inspire Veterinary and Tilray Brands, which released their Q4 and Q3 earnings reports, respectively.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 4:31 pm

SNAP

A significant option trade was made on Snap Inc. (SNAP) involving a sweep of 413 calls for January 17 at $17, priced at $1.24 each, with the trade occurring near the ask price. This activity comes ahead of Snap's earnings report scheduled for April 25, after the market closes. The stock's reference price at the time of the trade was $11.25.

Portfolio Pulse from Charles Gross

April 09, 2024 | 4:30 pm

BA

Boeing's stock price has declined following the announcement of its Q1 deliveries. The report indicates a potential concern among investors regarding the company's performance and future prospects.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 4:25 pm

PFE

Pfizer Inc (NYSE:PFE) released Phase 3 MONeT trial data for Abrysvo, showing potential as the first RSV vaccine for adults 18-59. The trial met its immunogenicity and safety endpoints, demonstrating non-inferior neutralizing responses compared to a previous study in older adults. Pfizer plans to seek regulatory approval to expand Abrysvo's use to adults 18 years and older. Shares of Pfizer are up 0.6% following the announcement.

Portfolio Pulse from Vandana Singh

April 09, 2024 | 4:20 pm

ALLY

NUMV

RDIV

BofA Securities analyst Brandon Berman upgraded Ally Financial Inc. (ALLY) to Buy from Neutral and increased the price target to $46 from $42, citing reduced future earnings volatility due to recent balance sheet initiatives. Berman expects limited risk to net interest income and a muted impact from potential rate cuts in FY24. The forecast includes a peak in losses in Q2 FY24, with EPS estimates for FY24 at $2.99, FY25 at $6.18, and FY26 at $6.49. Ally Financial's stock can also be accessed through RDIV and NUMV ETFs.

Portfolio Pulse from Lekha Gupta

April 09, 2024 | 4:18 pm

ENPH

Enphase Energy (NASDAQ:ENPH) has seen significant options trading activity, indicating a split sentiment among big-money investors, with 54% bullish and 45% bearish. The trading volume and open interest suggest a target price range of $111.0 to $145.0. Recent analyst ratings present a mixed outlook, with a consensus target price of $124.67. The company's stock is currently up 2.16%, trading at $117.73, with an earnings announcement expected in 14 days.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 4:16 pm

NVO

Financial giants have shown a bearish sentiment towards Novo Nordisk (NVO) through unusual options trading activity, with a mix of bullish and bearish trades. The options target a price range of $100 to $160. Novo Nordisk, a leader in diabetes care, has seen its stock price decrease by 2.2% to $124.65. Analysts have set an average price target of $160, despite a downgrade by Cantor Fitzgerald to Overweight. The company's earnings announcement is expected in 23 days.

Portfolio Pulse from Benzinga Insights

April 09, 2024 | 4:15 pm