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Equity Actions

LCID

Lucid Group Inc (NASDAQ:LCID) shares are trading lower after the announcement that the company will be removed from the Nasdaq-100 Index. The annual reconstitution of the index will take effect before the market opens on Dec. 18. Lucid, along with other companies, was selected for removal. Last week, Stifel initiated coverage on Lucid with a Hold rating and a price target of $5. The average 12-month price target among analysts is $7.03. Lucid's stock is down about 30% year-to-date but has risen nearly 20% in the last month. On Monday morning, shares were down 5.07% at $4.49.

Portfolio Pulse from Adam Eckert

December 11, 2023 | 2:44 pm

CCRN

FWBI

NUWE

PBLA

VYGR

The article discusses notable value stocks in the healthcare sector, highlighting their low price-to-earnings (P/E) multiples, which suggest they may be undervalued. The stocks mentioned are Cross Country Healthcare (CCRN), Nuwellis (NUWE), First Wave BioPharma (FWBI), Voyager Therapeutics (VYGR), and Panbela Therapeutics (PBLA). The article also provides recent earnings per share data for these companies, indicating their financial performance.

Portfolio Pulse from Benzinga Insights

December 11, 2023 | 2:43 pm

CCEP

CDW

DASH

MDB

ROP

SPLK

CDW Corp, Coca-Cola Europacific Partners, DoorDash, MongoDB, Roper Technologies, and Splunk have been added to the Nasdaq-100 Index. This inclusion could potentially increase investor interest and trading volumes in these stocks due to the index's popularity and the funds that track it.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 2:42 pm

JD.com Inc (NASDAQ:JD) stock is declining after the announcement that it will be removed from the Nasdaq-100 Index. The annual reconstitution of the Nasdaq-100 Index, effective December 18, 2023, excludes JD.com along with several other companies. Despite the index removal, analysts have predominantly positive ratings on JD.com, with an average 12-month price target of $58.24. At the time of the report, JD.com's shares had fallen by 3.97% to $25.40.

Portfolio Pulse from Adam Eckert

December 11, 2023 | 2:28 pm

PRLD

Prelude Therapeutics has agreed to sell pre-funded warrants to institutional investors, allowing the purchase of up to 7,936,759 shares of common stock at $3.1499 per warrant. The warrants are immediately exercisable at $0.0001 per share and will not expire. The exercise of warrants is limited to prevent ownership exceeding 4.99% of outstanding shares, unless a higher percentage is set by the holder. The net proceeds of approximately $24.9 million will fund the SMARCA2 portfolio, working capital, and general corporate purposes. The offering is expected to close on December 13, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 2:24 pm

LUCD

PAVM

PAVmed Inc. (NASDAQ:PAVM) has provided additional details regarding the distribution of approximately 3.3 million shares of Lucid Diagnostics Inc. (NASDAQ:LUCD) common stock to its shareholders. Shareholders on record as of January 15, 2024, will receive about 41 shares of LUCD for every 100 shares of PAVM they own. The distribution is expected to occur within 30 days of the record date. PAVmed recently underwent a reverse stock split and has about 8.1 million shares outstanding.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 2:18 pm

REGN

Regeneron Pharmaceuticals (NYSE:REGN) has seen a 6.99% increase in short interest since its last report, with 1.40 million shares sold short, representing 1.53% of its float. The average time to cover these short positions is 2.32 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Compared to its peers, REGN has a lower short interest as a percentage of float, with the peer group average at 5.43%.

Portfolio Pulse from Benzinga Insights

December 11, 2023 | 2:15 pm

MCD

McDonald's (NYSE:MCD) has seen a 5.38% increase in short interest since its last report, with 7.06 million shares sold short, representing 0.98% of available shares. The short interest is below the peer group average of 9.44%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

December 11, 2023 | 2:15 pm

INAB

IN8bio, Inc. has entered into a purchase agreement with certain investors for a private placement to raise up to $46.9 million. The company plans to use the proceeds to advance its clinical programs, including trials for its drug candidates in patients with leukemia and solid tumors.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 2:05 pm

BlackBerry shares dropped following the announcement of its decision to separate its IoT and Cybersecurity units and to cancel the planned subsidiary IPO of its IoT business.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 2:04 pm