Streetbeat News

Equity Actions

JPM

A large bearish position on JPMorgan Chase (NYSE:JPM) has been noticed, with 26 uncommon options trades spotted. The sentiment of these big-money traders is split between 42% bullish and 57% bearish. Whales have been targeting a price range from $130.0 to $165.0 for JPMorgan Chase over the last 3 months. Citigroup and Morgan Stanley have downgraded their actions to Buy and Overweight respectively, with price targets of $165 and $160.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 4:01 pm

META

A significant bullish stance has been taken on Meta Platforms (NASDAQ:META) with 46 uncommon options trades spotted, split between 54% bullish and 45% bearish. The whales have been targeting a price range from $115.0 to $400.0 for Meta Platforms over the last 3 months. The price of META is up 2.47% at $288.47. Wells Fargo downgraded its action to Equal-Weight with a price target of $276, while Oppenheimer, UBS, JMP Securities, and Citigroup maintain positive ratings with price targets ranging from $300 to $360.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 3:31 pm

SHOP

A significant bullish stance has been taken on Shopify (NYSE:SHOP) by a large investor, as indicated by unusual options trading activity. The sentiment among these big-money traders is 70% bullish and 30% bearish. The whales have been targeting a price range from $58.0 to $80.0 for Shopify over the last 3 months. Jefferies has maintained their Hold rating on Shopify with a price target of $65, while JMP Securities downgraded its action to Market Outperform with a price target of $70.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 3:31 pm

CTMX

CytomX Therapeutics, Inc (NASDAQ:CTMX) has entered into a private placement agreement with BVF Partners L.P., which will result in initial gross proceeds of approximately $30 million. The company is selling pre-funded warrants to buy up to 14.42 million shares of common stock and has the potential to receive up to an additional $60 million if all warrants are fully exercised for cash. The proceeds are expected to extend the company's cash runway into the second half of 2025.

Portfolio Pulse from Nabaparna Bhattacharya

June 30, 2023 | 3:26 pm

INTS

Intensity Therapeutics, Inc. has priced its Initial Public Offering (IPO) at $5 per share, with a total of 3.9 million shares. The IPO is indicating a price of $596 per share.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 3:14 pm

INTS

Intensity Therapeutics, Inc. has priced its Initial Public Offering (IPO) at $5 per share, with 3.9 million shares being offered. The IPO is currently indicating a price of $5.75 per share.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 3:03 pm

CGC

Canopy Growth's shares are trading lower following the company's announcement of the equitization of C$12.5 million of notes.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 3:00 pm

INTS

Intensity Therapeutics, a clinical-stage biotechnology company, has announced the pricing of its upsized initial public offering (IPO) of 3.9 million shares at $5.00 per share. The company has also granted the underwriters a 45-day option to purchase an additional 585,000 shares at the IPO price, less the underwriting discounts and commissions. The company's common stock is expected to begin trading on The Nasdaq Capital Market on June 30, 2023, under the ticker symbol 'INTS'. The net proceeds from the offering are expected to be approximately $16.2 million.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 2:53 pm

WEST

Westrock Coffee Company (NASDAQ:WEST) has received a $75 million equity investment from HF Capital LLC and the Herbert Hunt family. The investment will be made through the purchase of 7.5 million shares at $10 per share, a 10.3% discount to the company's closing price on June 29. The transactions are expected to close in August 2023. Westrock has also amended its $400 million credit agreement to increase its total net leverage financial covenant and raise the minimum interest coverage ratio. However, the company has cut its FY23 adjusted EBITDA outlook due to product launch delays and equipment delays.

Portfolio Pulse from Shivani Kumaresan

June 30, 2023 | 2:34 pm

DSS

DSS Inc. has announced an updated shareholder of record date for the spinoff of Impact BioMedical Inc. to July 10, 2023, pending SEC clearance. Shareholders of DSS Inc. on record as of July 10, 2023, will receive four shares of Impact Biomedical Inc. for every one share of DSS, Inc. on a future distribution date. The distribution is subject to the already filed S-1 being declared effective for registering the distribution.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 2:22 pm