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CMPS

COMPASS Pathways (NASDAQ:CMPS) has shared positive results from an open-label Phase 2 trial assessing its synthetic psilocybin COMP360 alongside SSRIs for Treatment-Resistant Depression (TRD). The findings show a positive correlation in terms of safety and efficacy. The company is also conducting a large randomized, controlled, double-blind Phase 3 trial of COMP360 therapy for TRD, with first topline results expected in summer 2024.

Portfolio Pulse from Lara Goldstein

July 18, 2023 | 7:54 pm

IFNNY

NXPI

ON

QCOM

STLA

Stellantis NV is implementing a strategy to secure the long-term supply of microchips, including a semiconductor database for transparency and risk assessment to remove legacy parts. The company is engaging with semiconductor providers like Infineon Technologies AG, NXP Semiconductors N.V., ON Semiconductor Corp, and QUALCOMM Incorporated to improve its platforms and technologies. Stellantis has entered into direct agreements for semiconductors with a purchasing value of more than €10 billion through 2030.

Portfolio Pulse from Shivani Kumaresan

July 18, 2023 | 7:00 pm

CARR

EMR

WHR

The global air conditioning market is expected to grow at a compound annual growth rate of 6.2% from 2022 to 2028, reaching a value of $172.48 billion by 2028, driven by rising temperatures and worsening air quality. The Asia Pacific region, followed by North America and Europe, will be the main contributors to this growth. Several US-based air conditioner stocks have seen price increases over the past month, including Carrier Global Corp (NYSE:CARR), Whirlpool Corporation (NYSE:WHR), and Emerson Electric Co (NYSE:EMR).

Portfolio Pulse from Natan Ponieman

July 18, 2023 | 6:57 pm

ARGX

IMVT

Immunovant Inc's (NASDAQ:IMVT) FcRn strategy gains momentum as analysts view the ADHERE study as a de-risking factor for CIDP clinical development. The study was conducted by Argenx SE (NASDAQ:ARGX). Stifel has increased the price target for Immunovant from $28 to $34, and HC Wainwright has revised its price target from $27 to $29. The positive ADHERE data supports the autoantibody hypothesis in CIDP, suggesting that most CIDP patients could benefit from an FcRn inhibitor.

Portfolio Pulse from Vandana Singh

July 18, 2023 | 6:39 pm

RBLX

Truist Securities analyst Matthew Thornton has reiterated a Hold rating on Roblox Corporation (RBLX), raising the price target to $45 from $42. Thornton believes AI will have a significant impact on RBLX's content creation and cost structure, particularly in Trust & Safety costs. He also expects RBLX to expand to other platforms, with Xbox accounting for at least 2% of RBLX bookings in 2022. Thornton estimates daily user growth of 23%/18%/15% in 2023/2024/2025 and views the forward consensus AEBITDA as too low in the short term.

Portfolio Pulse from Nabaparna Bhattacharya

July 18, 2023 | 6:39 pm

CABA

Guggenheim Securities has initiated coverage of Cabaletta Bio Inc (CABA) with a Buy rating and a price target of $34. The positive outlook is based on the development of its CD19 CAR-T cell therapy CABA-201, currently in development for lupus and myositis. The company has successfully pivoted to treating a new disease using a well-established approach. CABA shares are up 11.90% at $13.99.

Portfolio Pulse from Vandana Singh

July 18, 2023 | 6:28 pm

MSFT

Microsoft Corporation (NASDAQ:MSFT) shares rose after the company announced a new AI service, Copilot, for Microsoft 365. The service will provide enterprise customers with a generative AI assistant across their Microsoft 365 programs for an additional $30 per month. The company also updated Bing Chat, its AI chatbot. Microsoft's recent $10 billion investment in OpenAI could significantly increase its revenues and potential dividends for investors. To earn $500 per month from Microsoft dividends, an investment of about $759,493.67, or about 2,078 shares, would be needed.

Portfolio Pulse from AJ Fabino

July 18, 2023 | 6:27 pm

AMGN

SFTBY

Neumora Therapeutics, backed by Softbank Group Corp and Amgen Inc, has announced plans for three Phase 3 studies for its major depressive disorder (MDD) candidate Navacaprant. The studies will evaluate the once-daily navacaprant oral monotherapy for MDD, with the first trial expected to start in 3Q23. The announcement follows the successful completion of a Phase 2 study with navacaprant, which showed promising results in reducing symptoms of depression.

Portfolio Pulse from Vandana Singh

July 18, 2023 | 6:24 pm

VUZI

Vuzix has tweeted about a study published in The American Journal of Emergency Medicine, which compares video streaming via smart glasses and telephone instructions. The study could potentially highlight the effectiveness of Vuzix's smart glasses in emergency situations.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 6:17 pm

DNA

Ginkgo Bioworks has been granted U.S. Patent #11702665 for a Paenibacillus-based endospore display platform, products, and methods. This new patent could potentially enhance the company's product offerings and competitive edge in the biotech industry.

Portfolio Pulse from Charles Gross

July 18, 2023 | 6:02 pm