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ALPN

RBC Capital Markets has initiated coverage on Alpine Immune Sciences Inc (NASDAQ:ALPN) with an Outperform rating and a price target of $19. The analysts perceive ALPN's lead candidate, povetacicept, as having a robust foundation for advancement in autoimmune indications. The IgAN treatment market, the primary focus of the RUBY-3 trial, is estimated to be worth over $6 billion by 2032. ALPN shares are up 5.73% at $12.37.

Portfolio Pulse from Vandana Singh

October 05, 2023 | 6:45 pm

NBIX

Neurocrine Biosciences Inc (NBIX) released positive topline data from the Phase 3 CAHtalyst Pediatric Study of crinecerfont in children and adolescents with classic congenital adrenal hyperplasia (CAH). The study met its primary endpoint, demonstrating a significant decrease in serum androstenedione from baseline at Week 4 versus placebo. Approximately 30% of participants receiving crinecerfont achieved a reduction to a physiologic GC dose while maintaining androgen control compared to 0% of participants receiving a placebo. NBIX shares are up 3.74% at $114.83.

Portfolio Pulse from Vandana Singh

October 05, 2023 | 6:38 pm

MXCT

MaxCyte Inc (NASDAQ:MXCT) shares dropped after the company reported a 25-27% Y/Y decrease in preliminary Q3 revenue, attributed to reduced customer activity. The company also lowered its FY23 sales and core revenue forecasts. Analysts from William Blair noted that the company's underperformance in Processing Assembly sales had a cascading effect on Q3's Cell Therapy and Drug Discovery results. Despite the decline, lease revenue remained steady.

Portfolio Pulse from Vandana Singh

October 05, 2023 | 6:35 pm

AMZN

NIO

RIVN

Electric vehicle (EV) manufacturers are spending heavily to compete in the booming EV market. Chinese EV maker NIO Inc (NYSE:NIO) reportedly lost about $35,000 per car last quarter, selling about 8,000 cars each month. The company is investing in differentiating features like augmented reality glasses and a high-end smartphone that communicates with its vehicles. US-based Rivian Automotive Inc (NASDAQ:RIVN), backed by Amazon.com, Inc. (NASDAQ:AMZN), is also focusing on demand, maintaining its pricing structure despite a pricing war among other EV makers. Rivian lost $32,594 per vehicle in Q2, but this figure is improving.

Portfolio Pulse from Adam Eckert

October 05, 2023 | 6:35 pm

GM

General Motors Company (NYSE:GM) shares are trading lower following a report suggesting the company has at least 20 million vehicles with potentially explosive airbag parts. The National Highway Traffic Safety Administration (NHTSA) is considering a recall. This news, along with the ongoing United Auto Workers strike, has put pressure on General Motors stock, which is down 23.19% over the past three months.

Portfolio Pulse from Ryan Gustafson

October 05, 2023 | 6:33 pm

ONON

Wedbush analyst Tom Nikic has reiterated an Outperform rating on On Holding AG (NYSE:ONON) with a price target of $36. The company plans to double revenues by FY26 and increase margins by over 300 basis points. Despite low brand awareness in the U.S. and Germany, the company is expected to drive growth globally as brand visibility increases. The company, which had eight stores globally two years ago, plans to expand to over 30 stores by the end of 2023.

Portfolio Pulse from Shivani Kumaresan

October 05, 2023 | 6:33 pm

CAG

CMBM

LW

MXCT

ORTX

RIVN

SP

U.S. stocks traded slightly lower with the Dow Jones index falling around 40 points. ConAgra Brands Inc (CAG) reported better-than-expected earnings for its first quarter. Orchard Therapeutics (ORTX) shares shot up 98% after agreeing to be acquired by Japan's Kyowa Kirin. Lamb Weston Holdings (LW) and SP Plus Corporation (SP) also saw significant increases in share prices. Cambium Networks Corporation (CMBM), Rivian Automotive (RIVN), and MaxCyte (MXCT) shares dropped significantly due to disappointing financial results and outlooks.

Portfolio Pulse from Lisa Levin

October 05, 2023 | 6:31 pm

IR

Ingersoll Rand's (NYSE:IR) short percent of float has fallen 10.32% since its last report, with 4.26 million shares sold short, which is 1.39% of all regular shares available for trading. This decrease in short interest could indicate a more bullish market sentiment towards the stock. Compared to its peers, Ingersoll Rand has less short interest as a percentage of float, with an average of 3.60%.

Portfolio Pulse from Benzinga Insights

October 05, 2023 | 6:30 pm

QQQ

TQQQ

ProShares UltraPro QQQ (TQQQ) shares are trading lower due to recent strength in Treasury yields. Rising Treasury yields can lead to higher borrowing costs for corporations, negatively impacting their profitability and leading to lower stock prices. TQQQ, which tracks the NASDAQ-100 Index, is heavily weighted toward the technology sector, which is sensitive to changes in interest rates.

Portfolio Pulse from Henry Khederian

October 05, 2023 | 6:30 pm

GS

Goldman Sachs Gr's (NYSE:GS) short percent of float has risen 16.16% since its last report, with 3.77 million shares sold short, which is 1.15% of all regular shares available for trading. It would take traders 1.88 days to cover their short positions on average. The company has less short interest than most of its peers, with an average of 3.68%.

Portfolio Pulse from Benzinga Insights

October 05, 2023 | 6:30 pm