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IPHA

The FDA has placed a clinical hold on Innate Pharma SA's (NASDAQ:IPHA) lacutamab Investigational New Drug (IND), leading to a pause in new patient enrollment in ongoing lacutamab trials. The hold follows a fatal case of a rare blood disorder. However, patients already on the study treatment may continue after being reconsented. Despite the hold, Innate Pharma does not anticipate any delay for the Phase 2 TELLOMAK study as all patients have been recruited. IPHA shares are down 9.72% in premarket trading.

Portfolio Pulse from Vandana Singh

October 05, 2023 | 12:19 pm

CMBM

ORTX

Orchard Therapeutics shares rose by 95.5% in pre-market trading after the company announced a deal to be acquired by Kyowa Kirin Co., Ltd. for a total value of about $477.6 million. Other pre-market gainers include Meiwu Technology, Molekule Group, Femasys, NKGen Biotech, Grom Social Enterprises, Better Choice Company, Momentus, China SXT Pharmaceuticals, and Tenaya Therapeutics. Pre-market losers include Cambium Networks, SIGNA Sports United, MaxCyte, Neoleukin Therapeutics, Safety Shot, Benson Hill, Inspirato, Accolade, and SeaStar Medical Holding Corporation.

Portfolio Pulse from Lisa Levin

October 05, 2023 | 12:15 pm

ABCM

DHR

Abcam plc (NASDAQ:ABCM) has filed and mailed a scheme circular seeking approval for its acquisition by Danaher Corporation (NYSE:DHR) for $24.00 per share. The transaction represents a 39% premium to Abcam's undisturbed closing share price on May 16, 2023. The acquisition is the result of a competitive sale process, with Danaher's offer being the highest received. Post-acquisition, Abcam will continue as a standalone operating company and brand within Danaher's Life Sciences segment.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:12 pm

SPY

A survey reveals that while Federal Reserve officials assign a zero probability for a recession over the next 12 months, about 84% of CEOs predict a looming recession. The median GDP forecast for 2023 is 2.1%, with a slowdown to 1.5% in 2024 and a pickup to 1.8% in 2025 and 2026. The SPDR S&P 500 ETF Trust (NYSE:SPY) traded up 0.08% at $425 in premarket trading on Thursday.

Portfolio Pulse from Shanthi Rexaline

October 05, 2023 | 12:09 pm

AMK

HASI

WD

WMC

The article lists four financial stocks that are currently oversold, presenting a potential buying opportunity. These include Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI), AssetMark Financial Holdings, Inc. (AMK), Western Asset Mortgage Capital Corporation (WMC), and Walker & Dunlop, Inc. (WD). The stocks have been identified as oversold based on their Relative Strength Index (RSI) values, which are all below 30.

Portfolio Pulse from Lisa Levin

October 05, 2023 | 12:08 pm

ALXO

ALX Oncology has priced its underwritten public offering of common stock and pre-funded warrants. The company is selling 7.37 million shares at $6.38 per share and pre-funded warrants to purchase 1.25 million shares at $6.379 per pre-funded warrant, with gross proceeds of $55 million.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:07 pm

SP

SP Plus Corporation is set to be acquired by Metropolis Technologies for $1.5 billion. Stockholders will receive $54.00 per share in cash, a 52% premium to the closing stock price on October 4. The transaction is expected to close in 2024.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:07 pm

LCTX

Lineage Cell Therapeutics has reported rapid improvement in outer retinal structure in patients with geographic atrophy secondary to age-related macular degeneration, based on Phase 1/2a results of its RG6501 (OpRegen) trial.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:02 pm

PAY

Over the past 3 months, 10 analysts have published their opinion on Paymentus Holdings (NYSE:PAY) stock. The average price target for the stock has increased by 16.9% from the previous average price target of $11.89 to $13.9. The ratings are mixed with 1 bullish, 3 somewhat bullish, 5 indifferent, and 1 bearish.

Portfolio Pulse from Benzinga Insights

October 05, 2023 | 12:00 pm

PNW

Pinnacle West Capital (NYSE:PNW) has received mixed analyst ratings in the last quarter, with 2 bullish, 2 somewhat bullish, 5 indifferent, and 1 somewhat bearish. The average 12-month price target for the company, according to 10 analysts, is $78.1, an increase of 3.73% from the previous average of $75.29.

Portfolio Pulse from Benzinga Insights

October 05, 2023 | 12:00 pm