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SXTP

60 Degrees Pharmaceuticals Inc's subsidiary, 60P Australia Pty Ltd, has withdrawn its investigational new drug application for ACLR8-LR, a Phase 2B study of the use of tafenoquine in treating COVID-19, in response to FDA comments. The company plans to submit a new application in Q4, pending a feasibility assessment of revising the trial design. Meanwhile, 60P has paused further start-up activities for its Phase 2B trial, improving its short-term cash position. The company's shares are down 28.1% in premarket trading.

Portfolio Pulse from Vandana Singh

September 19, 2023 | 1:04 pm

CRWD

CrowdStrike (NASDAQ:CRWD) has announced its intention to acquire Bionic, a pioneer in Application Security Posture Management (ASPM). The acquisition will extend CrowdStrike's Cloud Native Application Protection Platform with ASPM, providing comprehensive risk visibility and protection across the entire cloud estate. The deal was announced following CrowdStrike's Q2 FY24 financial results, which showed a record quarter for its fast-growing cloud security business. The acquisition is expected to close during CrowdStrike's fiscal third quarter.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 1:02 pm

APOG

Apogee Enterprises, Inc. (NASDAQ:APOG) reported a Q2 FY24 sales decline of 5% Y/Y to $353.675 million, missing the consensus of $372.01 million. However, adjusted EPS rose 28% Y/Y to $1.36, above the consensus of $1.12. The company also raised its FY24 adjusted EPS outlook to $4.35-$4.65 from $4.15-$4.45. APOG shares are trading higher by 4.26% to $51.41 premarket.

Portfolio Pulse from Nabaparna Bhattacharya

September 19, 2023 | 1:02 pm

CAMT

Camtek (NASDAQ:CAMT) has received a mix of bullish and indifferent ratings from 11 analysts over the past quarter. The average price target is $54.0, which is lower than the current price of $56.73. This average price target has increased by 21.73% from the previous average of $44.36.

Portfolio Pulse from Benzinga Insights

September 19, 2023 | 1:01 pm

SFIX

Analysts have given Stitch Fix (NASDAQ:SFIX) indifferent ratings over the last quarter, with an average price target of $3.64, implying an upside from the current price of $3.05. This average has decreased by 17.65% from the previous average price target of $4.42.

Portfolio Pulse from Benzinga Insights

September 19, 2023 | 1:01 pm

KMX

Over the past 3 months, 8 analysts have published their opinion on CarMax (NYSE:KMX) stock. The average price target is $85.38, implying an upside from the current price of $82.41. The current average has increased by 16.69% from the previous average price target of $73.17.

Portfolio Pulse from Benzinga Insights

September 19, 2023 | 1:01 pm

DOOR

Masonite International (NYSE:DOOR) has received a mix of bullish and indifferent analyst ratings in the last quarter. The company has an average 12-month price target of $123.5, which has increased by 12.96% over the past month.

Portfolio Pulse from Benzinga Insights

September 19, 2023 | 1:01 pm

ARM

Arm shares are experiencing post-IPO volatility and are trading lower. Redburn Atlantic has initiated coverage on the stock with a Neutral rating and a $50 price target.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2023 | 1:00 pm

ARM

Arm Holdings plc (NASDAQ:ARM) shares closed lower on Monday amid post-IPO volatility. The company was the 45th busiest single stock option with puts outpacing calls by 2 to 1. There were buyers of more than 11,000 of the October 50-puts at an average price of $1.33 per contract. Bernstein initiated coverage on ARM Holdings with an Underperform rating and a price target of $46.

Portfolio Pulse from Priya Nigam

September 19, 2023 | 12:54 pm

CING

OPTT

SBIG

VANI

Insiders at four penny stocks, SpringBig Holdings (OTC:SBIG), Ocean Power Technologies (NYSE:OPTT), Cingulate Inc. (NASDAQ:CING), and Vivani Medical (NASDAQ:VANI), have recently made notable purchases. This could indicate their confidence in the companies' prospects despite recent downbeat quarterly results and wider losses.

Portfolio Pulse from Lisa Levin

September 19, 2023 | 12:49 pm