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The FDA approved Johnson & Johnson's Carvykti for a wider population of multiple myeloma patients, marking it as the first BCMA-targeted therapy for early relapse treatment. This approval is based on the Phase 3 CARTITUDE-4 study results. Johnson & Johnson has increased Carvykti's production and plans further expansion. The company, in collaboration with Legend Biotech Corporation and Novartis AG, aims to double manufacturing by 2024. Despite Carvykti's current market lead, challenges from newer BCMA-targeted therapies could impact its dominance.

Portfolio Pulse from Vandana Singh

April 08, 2024 | 6:19 pm

WAVE

Eco Wave Power Global AB (NASDAQ:WAVE) stock surged over 150% after announcing it was selected to conduct wave energy feasibility studies along the U.S. coastline. The three-month study will assess 77 sites for wave energy commercialization potential over the next 5-10 years. CEO Inna Braverman highlighted the technology's scalability and its role in combating climate change.

Portfolio Pulse from Henry Khederian

April 08, 2024 | 6:18 pm

PATH

UiPath's (NYSE:PATH) short interest has increased by 3.02% since the last report, with 17.57 million shares sold short, representing 4.43% of its float. This places UiPath above its peer group average of 4.22% in short interest as a percentage of float. The rise in short interest signals a more bearish market sentiment towards UiPath, though it doesn't necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 6:15 pm

NEM

Newmont's (NYSE:NEM) short interest has increased by 14.35% since the last report, with 22.31 million shares sold short, representing 2.47% of its float. This indicates a bearish market sentiment, although it's lower than its peer group average of 3.79%. The coverage time for these short positions is approximately 1.1 days.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 6:15 pm

ICU

SeaStar Medical Holding's (NYSE:ICU) short interest has decreased by 21.05% since the last report, with 3.24 million shares sold short, representing 5.89% of its float. This decline in short interest could indicate a more bullish sentiment towards ICU. Compared to its peers, ICU has a higher short interest percentage of float, suggesting more bearish sentiment among investors relative to its peer group.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 6:15 pm

AS

Amer Sports' stock trades lower following a downgrade by Bernstein from Outperform to Market Perform, with a reduced price target from $18.5 to $16.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 6:14 pm

PARA

Paramount shares are trading lower due to ongoing deal talks with Skydance.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 6:12 pm

SMFL

Smart for Life, Inc. (NASDAQ:SMFL) shares surged after announcing the acquisition of Purely Optimal Nutrition, an eCommerce nutraceuticals company. The deal, expected to close in eight weeks, aligns with Smart for Life's 'Buy-and-Build' strategy to become a major player in the Health & Wellness sector. Purely Optimal's product line is anticipated to enhance Smart for Life's offerings, with the acquired company generating over $8 million in revenue and $1 million of Adjusted EBITDA in the trailing twelve months. The acquisition led to a significant increase in trading volume for SMFL shares.

Portfolio Pulse from Erica Kollmann

April 08, 2024 | 6:10 pm

DIN

KSS

WEN

Wall Street's most accurate analysts recommend holding three consumer discretionary stocks with high dividend yields: Kohl's Corporation (KSS), The Wendy's Company (WEN), and Dine Brands Global, Inc. (DIN). These recommendations come amidst market turbulence, with each company showing significant dividend yields and recent financial performance updates.

Portfolio Pulse from Avi Kapoor

April 08, 2024 | 6:07 pm

BMY

Bristol Myers Squibb & Co (NYSE:BMY) released data from the KRYSTAL-1 study on Krazati (adagrasib) combined with cetuximab for KRASG12C-mutated colorectal cancer, showing promising results. The FDA accepted a supplemental new drug application for this combination, with a review goal date set for June 21, 2024. Additionally, BMY announced positive results from the KRYSTAL-12 study on Krazati as a monotherapy for non-small cell lung cancer. BMY shares slightly declined by 0.27% to $51.18.

Portfolio Pulse from Vandana Singh

April 08, 2024 | 6:00 pm