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Equity Actions

CRVS

Corvus Pharmaceuticals, Inc. (CRVS) announced a registered direct offering to raise approximately $30.6 million through the sale of common stock and pre-funded warrants, with participation from notable health-care investors. The offering includes over 13 million shares of common stock and warrants, with an exercise price for common warrants at $3.50, expiring on June 30, 2025. The offering, expected to close by May 6, 2024, involves no underwriting discounts or placement agent fees.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:40 pm

PALI

Palisade Bio has announced a $4M private placement priced at-the-market under Nasdaq rules. This move is aimed at raising capital, potentially for operational expenses or growth initiatives. The pricing at-the-market suggests a strategy to minimize dilution or market disruption.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:31 pm

CNTX

Context Therapeutics announced a $100M private placement, which, combined with existing cash and equivalents, is expected to extend its cash runway into 2028. This financial move is significant for the company's long-term operations and stability.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:28 pm

VERB

Verb Technology Company, Inc. (NASDAQ:VERB) has been granted a 6-month extension by Nasdaq to meet the minimum bid price requirement of $1.00. This extension, valid until October 28, 2024, comes after VERB demonstrated compliance with all other Nasdaq Capital Market listing requirements, except for the bid price. The company has significantly improved its financial position, with a notable increase in shareholder value and cash equivalents, and a reduction in notes payable. VERB's management has successfully recapitalized and restructured the company, positioning it for future success.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:25 pm

QDEL

QuidelOrtho announced the appointment of Brian Blaser as President and CEO, effective May 6, 2024. Blaser will also join the Board on May 15, 2024, when it expands to eleven members. The company plans to report its Q1 2024 financial results on May 8, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:19 pm

SILC

Silicom's Board of Directors has authorized a new one-year share buyback plan, allowing the company to invest up to $15 million to repurchase its ordinary shares. This plan will commence following the completion of the current $15 million buyback plan. The repurchase timing and volume will depend on market conditions and share price, with the plan offering flexibility in execution methods. The buyback will be funded from available working capital, without obligating Silicom to repurchase a specific number of shares.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:17 pm

PDSB

PDS Biotech has announced the appointment of Stephan Toutain as its new Chief Operating Officer. This strategic move aims to strengthen the company's operational leadership as it advances its pipeline of immunotherapies.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:06 pm

MPC

Marathon Petroleum (NYSE:MPC) received mixed ratings from 12 analysts, with an updated average 12-month price target of $205.92, reflecting a 14.61% increase from the previous target. The company's financial performance shows a negative revenue trend with a -8.94% growth rate, a net margin of 4.0%, and a high debt-to-equity ratio of 1.17, despite strong ROE and ROA figures. Marathon Petroleum operates 13 refineries and has significant midstream assets through MPLX.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 12:01 pm

PCOR

Analyst ratings for Procore Technologies (NYSE:PCOR) have shown a positive trend over the past three months with 11 analysts offering ratings ranging from bullish to bearish. The average 12-month price target has been raised to $86.91, indicating a 12.07% increase from the previous target. Analyst actions include both upgrades and downgrades, reflecting changing market dynamics and company performance. Procore Technologies, a cloud-based construction management software company, has shown impressive revenue growth of 28.7% as of December 31, 2023, but struggles with profitability and efficiency metrics such as net margin, ROE, and ROA.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 12:01 pm

AXTA

Analysts have recently updated their ratings and price targets for Axalta Coating Systems (NYSE:AXTA), showing a mix of bullish and somewhat bullish sentiments. Over the past three months, the sentiment has shifted positively, with the latest average price target set at $39.00, marking a 5.41% increase from the previous $37.00. The company's financial performance is strong, with notable revenue growth, net margin, ROE, and ROA, although its debt-to-equity ratio is higher than the industry average.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 12:00 pm