Streetbeat News

Equity Actions

DIS

Significant activity in Walt Disney (NYSE:DIS) options has been observed, indicating a bullish sentiment among large investors. Benzinga's options scanner revealed 34 unusual trades, with a sentiment split of 58% bullish and 41% bearish. The trades suggest a targeted price range for DIS between $80.0 and $125.0. Current trading volume and price trends, along with analyst ratings from Morgan Stanley and Tigress Financial, suggest a positive outlook for DIS, despite a slight price drop and potential overbought status.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 7:01 pm

ARKK

COIN

NVDA

SARK

SPY

TARK

TSLA

Cathie Wood's ARK Innovation ETF (ARKK) has experienced a significant outflow, losing over 3% in value and 2% of its net assets in a week. This contrasts sharply with the broader market's performance, exemplified by the SPDR S&P 500 ETF Trust (SPY) which is up 8.5% in the same period. Investors are concerned about Wood's decision to divest from Nvidia (NVDA), which has seen substantial growth. Wood's current focus is on Coinbase (COIN), which has surged over 50% YTD, and Tesla (TSLA), despite its recent struggles. For those betting against ARKK, the AXS Short Innovation Daily ETF (SARK) and for supporters, the AXS 2X Innovation ETF (TARK) are available.

Portfolio Pulse from Johnny Rice

March 20, 2024 | 7:00 pm

MDAI

Spectral AI has secured access to $12.5 million of new equity capital, which could significantly enhance its financial flexibility and support its growth strategies.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:51 pm

CMPS

CYBN

MNMD

PSIL

Cybin Inc. received FDA Breakthrough Therapy designation for its psilocybin therapy for Major Depressive Disorder, alongside positive clinical data and a $150M private placement. MindMed also received the designation for its LSD-derived treatment for Generalized Anxiety Disorder, with expected proceeds of $175M from share offerings. Gilgamesh Pharmaceuticals was awarded a $14M grant for ibogaine analog research. Psyence Biomedical, Red Light Holland, and Clearmind Medicine were mentioned for their developments in psychedelics. The article also covered stock performances of several psychedelics companies.

Portfolio Pulse from Lara Goldstein

March 20, 2024 | 6:49 pm

ETAO

LFCR

OTRK

SMR

XTLB

Lifecore Biomedical's shares plummeted by 31.7% after announcing the conclusion of its strategic evaluation process, management changes, and board reshuffling. Other stocks experienced significant movements, with gainers like ETAO International and XTL Biopharmaceuticals seeing sharp increases due to a reverse stock split and acquisition news, respectively. Losers included NuScale Power Corporation, which dropped 28% following a downgrade by Wells Fargo, and Ontrak, Inc., which fell 26% after a previous day's surge.

Portfolio Pulse from Avi Kapoor

March 20, 2024 | 6:03 pm

NLSP

NLS Pharmaceutics has announced a registered direct offering of 7 million shares at a price of $0.25 per share, raising a total of $1.75 million. This move is aimed at increasing the company's capital.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 5:49 pm

JANX

Cantor Fitzgerald initiated coverage on Janux Therapeutics Inc (NASDAQ:JANX), highlighting its TRACTr/TRACir platform's potential in targeting various tumor antigens and cancer types. The firm is optimistic about JANX's lead product, JANX007, for metastatic castration-resistant prostate cancer, projecting it could reach peak US sales of $1.3 billion by 2031. Despite early but compelling clinical data, JANX007 faces intense competition. Janux's strong financial position, with a cash balance of $344 million in 2023 and a recent capital raise of $296.5 million, supports the advancement of JANX007 and other programs. Cantor sets a price target of $100 for JANX, currently trading up 4.31% at $40.30.

Portfolio Pulse from Vandana Singh

March 20, 2024 | 5:44 pm

KMX

Needham analyst Chris Pierce upgraded CarMax Inc (NYSE:KMX) from Hold to Buy with a price target of $99, citing signs of recovery, easy comps into tax refund season, and benefits from prior omni-channel investments. The analyst highlights the potential for a multi-year recovery driven by interest rate relief and rising used vehicle supply. Despite higher advertising and technology expenses, the upgrade reflects confidence in CarMax's growth trajectory.

Portfolio Pulse from Shivani Kumaresan

March 20, 2024 | 5:42 pm

BAX

BIIB

CVS

DHR

HCA

IBRX

LLY

NVO

TMO

VKTX

Today's session highlighted significant options activity in the Health Care sector, with notable trades on stocks like BAX, VKTX, CVS, LLY, IBRX, NVO, BIIB, DHR, HCA, and TMO. The activity ranged from bearish to bullish sentiments, involving both put and call options with varying expiration dates and strike prices. This options activity could indicate traders' expectations for these stocks' future movements.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 5:35 pm

AMZN

CZR

GES

PDD

PLNT

RIVN

TSLA

YUMC

Today's session highlighted significant options activity in the Consumer Discretionary sector, with notable movements in stocks like RIVN, CZR, TSLA, PDD, PLNT, AMZN, GES, F, YUMC, and HD. The activity ranged from bullish to bearish sentiments, involving both call and put options across various expiration dates and strike prices. This could indicate potential trading opportunities based on the whales' movements.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 5:35 pm