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VKTX

Viking Therapeutics Inc (NASDAQ:VKTX) shares dropped 10.9% to $63.95 without specific company news. The decline follows a recent public offering of 6.471 million shares at $85 each and volatility after positive Phase 2 VENTURE trial results. The company does not pay dividends but engages in other value-returning activities. VKTX's 52-week range is $8.28 to $99.41.

Portfolio Pulse from Henry Khederian

March 11, 2024 | 4:40 pm

COIN

Coinbase Global, Inc. (NASDAQ:COIN) shares are trading higher as Bitcoin reaches all-time highs, influenced by a crypto rally and an upgrade from Goldman Sachs. Analyst Will Nance upgraded COIN from Sell to Neutral and raised the price target from $170 to $282, citing the Bitcoin halving event, BTC ETF launches, and increased political and geopolitical uncertainty as drivers. Additionally, Coinbase's daily volumes have surged to levels not seen since 2021, causing platform crashes due to high traffic. A long-term forecast suggests COIN could trade at $208.21 in 2030 based on past performance.

Portfolio Pulse from Erica Kollmann

March 11, 2024 | 4:38 pm

VOLVF

WPRT

Westport Fuel Systems Inc. (NASDAQ:WPRT) shares surged after announcing an investment agreement to form a joint venture with Volvo AB (OTC:VOLVF) for the commercialization of its HPDI fuel system technology. The technology aims to replace greenhouse gas-emitting fuels with carbon-neutral alternatives in long-haul and off-road applications. Volvo Group will acquire a 45% interest in the JV for about $28 million, with an additional $45 million earn-out based on performance. The JV is expected to become operational in Q2 2024.

Portfolio Pulse from Lekha Gupta

March 11, 2024 | 4:36 pm

SLRN

Acelyrin's stock price increased following the announcement of positive top-line results from its Phase 2b/3 clinical trial of izokibep in psoriatic arthritis, meeting the primary endpoint of ACR50 at week 16. Additionally, the company shared promising 32-week data from the Phase 2b trial of Izokibep in hidradenitis suppurativa.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 4:31 pm

BIDU

Recent options trading activity indicates a bullish stance on Baidu (NASDAQ:BIDU) by large investors, with a notable volume of trades suggesting a target price range of $85.0 to $120.0. The trading volume and open interest analysis for the last 30 days reveal significant activity, with a mix of bullish and bearish sentiments among the trades. Baidu, a leading internet search engine in China, is currently trading at $100.28, with an RSI indicating a neutral position. An analyst from Barclays maintains an Overweight rating on Baidu with a target price of $133.

Portfolio Pulse from Benzinga Insights

March 11, 2024 | 4:15 pm

CZR

Caesars Sportsbook, operated by Caesars Entertainment, Inc. (NASDAQ:CZR), has expanded its mobile sports wagering to statewide in North Carolina, building on its initial offering on Eastern Band of Cherokee Indians Tribal Lands and at Harrah's Cherokee Casino Resort and Harrah's Cherokee Valley River Casino & Hotel. The expansion allows sports fans 21 and older across the state to place mobile sports wagers via the Caesars Sportsbook app or desktop. The launch is part of Caesars' ongoing partnership with the Eastern Band of Cherokee Indians and integrates with Caesars Rewards, offering users rewards for their wagering activity. The app features a wide range of betting options, including live betting and streaming of NFL games. Caesars is also emphasizing Responsible Gaming education with its 21+ policy as it expands into more jurisdictions.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 4:12 pm

MGM

BetMGM, a leading sports betting and iGaming operator, has launched mobile sports betting in North Carolina, offering a wide range of betting options and real-world rewards. The launch includes a partnership with Charlotte Motor Speedway to enhance race day experiences and an extended partnership with Richard Childress Racing. BetMGM's platform features advanced technology for pre-game and in-game betting, a loyalty program with MGM Resorts, and a focus on responsible gambling with resources like GameSense.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 4:08 pm

MSTR

MicroStrategy Inc (NASDAQ:MSTR) has invested over $800 million in Bitcoin, bringing its total holdings to approximately 205,000 BTC. The company's bullish stance is driven by the recent approval of spot Bitcoin ETFs, the upcoming halving event, and the belief that Bitcoin is a superior investment. Michael Saylor, Executive Chair, argues that MicroStrategy offers a better investment vehicle than ETFs due to its intelligent leverage strategy.

Portfolio Pulse from Adam Eckert

March 11, 2024 | 4:07 pm

VTYX

Ventyx Biosciences' stock price declined following the release of clinical data for its NLRP3 inhibitor portfolio and updates on its pipeline.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 4:04 pm

MRK

MRNA

Moderna and Merck are initiating a trial for a skin cancer treatment using a vaccine combination, signaling confidence in their broad program. This is their third late-stage study, targeting cutaneous squamous cell carcinoma (CSCC), the second-most common form of skin cancer in the U.S. The combination includes Merck's Keytruda and Moderna's mRNA-based vaccine, also under evaluation for melanoma and non-small cell lung cancer. Despite this development, Moderna's stock has declined 18.3% over the past year.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 3:59 pm