Streetbeat News

Equity Actions

BIAF

BioAffinity Technologies, Inc. (NASDAQ:BIAF) shares plummeted by 50.7% to $1.48 after announcing a securities purchase agreement with institutional investors for the sale of 1.6 million shares and equal number of warrants. The offering, priced at $1.5625 per share with warrants exercisable at $1.64, aims to raise approximately $2.5 million before expenses, with WallachBeth Capital as the placement agent. The stock's decline is also contextualized by its 12.72% decrease over the past year and current overbought status indicated by an RSI of 87.72.

Portfolio Pulse from Henry Khederian

March 06, 2024 | 3:57 pm

BIAF

bioAffinity Technologies' stock is trading lower following the announcement of a $2.5 million registered direct offering and a concurrent private placement.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 3:56 pm

PHGE

BiomX Inc. (AMEX:PHGE) shares surged after announcing a merger with Adaptive Phage Therapeutics and a $50 million funding through a private placement. The funds will support Phase 2b and Phase 2 trials of their lead product candidates, BX004 and BX211, respectively. BiomX's stock is currently trading above its 200-day moving average, indicating a bullish signal for investors.

Portfolio Pulse from Erica Kollmann

March 06, 2024 | 3:12 pm

ABSI

In the past three months, Absci (NASDAQ:ABSI) received varied analyst ratings, with a notable shift towards bullish perspectives in the last 30 days. The average 12-month price target for ABSI has significantly increased to $7.25 from $4.00, indicating a positive outlook from analysts. Absci, an AI-powered synthetic biology company, faces challenges with a -68.59% revenue decline and a net margin of -2956.18%, yet it maintains a strong financial performance with exceptional ROE and ROA figures.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 3:01 pm

BROS

Dutch Bros (NYSE:BROS) has seen a decrease in short interest, now at 11.56% of its float, down 5.71% from the last report. With 7.62 million shares sold short, it would take about 6.23 days to cover all short positions. This change in short interest could indicate a shift in market sentiment towards the stock. Compared to its peers, Dutch Bros has a higher short interest percentage, with the average being 8.62%. This information suggests that while short interest has decreased, the stock still has a relatively high level of bearish sentiment compared to its peers.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 3:00 pm

PSTG

In the last three months, 13 analysts have reviewed Pure Storage (NYSE:PSTG), showing a mix of bullish to bearish sentiments. Recent evaluations indicate an upward trend in price targets, with an average of $49.23, up 14.94% from the previous $42.83. Analysts from firms like Needham, Keybanc, and Morgan Stanley have raised their price targets, reflecting optimism about Pure Storage's market performance. The company's financials show strong revenue growth, net margin, ROE, and ROA, outperforming industry standards, despite a below-average market capitalization and debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 3:00 pm

BIAF

bioAffinity Technologies, Inc. (NASDAQ:BIAF) has announced a $2.5M registered direct offering and concurrent private placement of 1,600,000 shares at $1.5625 each, with warrants exercisable at $1.64. The offering, facilitated by WallachBeth Capital, is expected to close on March 8, 2024, subject to customary conditions.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 2:46 pm

CSSE

Chicken Soup for the Soul Entertainment Inc (NASDAQ:CSSE) is exploring financial options to address its cash crisis, including issuing preferred equity, raising new debt, and selling assets. The company, which expanded from publishing to various entertainment sectors, faces financial instability with $4.1 million in cash and $360 million in debt from its merger with Redbox. Despite efforts to reduce costs and renegotiate contracts, its stock has lost over 95% of its value in the past year.

Portfolio Pulse from Anusuya Lahiri

March 06, 2024 | 2:21 pm

SOFI

SoFi Technologies Inc (NASDAQ:SOFI) experienced a significant stock price drop of over 15% on Tuesday following the announcement of a convertible senior notes offering. The offering, priced at 1.25% due 2029, totals $750 million with an option for initial purchasers to buy an additional $112.5 million. The proceeds, estimated at $735 million, will fund capped call transactions, redeem Series 1 Preferred Stock, and cover general corporate purposes. Despite the drop, SOFI shares began to recover on Wednesday, increasing by 2.06%.

Portfolio Pulse from Adam Eckert

March 06, 2024 | 2:16 pm

SOFI

SoFi Technologies Inc (NASDAQ:SOFI) stock dropped 15.27% on March 5 due to a $750 million convertible senior notes offering. Despite this, the stock is showing signs of recovery in pre-market trading. Discussions on Reddit, particularly in the r/stocks subreddit, reveal a range of opinions from investors considering buying the dip. These opinions vary from positive outlooks and long-term holding strategies to concerns over volatility and the implications of the convertible note offering.

Portfolio Pulse from Surbhi Jain

March 06, 2024 | 2:05 pm