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REPL

Replimune Group Inc (NASDAQ:REPL) reported that its CERPASS trial of RP1 with cemiplimab for cutaneous squamous cell carcinoma did not meet primary endpoints. While RP1 increased the complete response rate, it fell short of statistical significance. The company also presented initial data from the IGNYTE Cohort for anti-PD1 failed melanoma, showing consistent activity. A BLA submission is planned for 2H 2024, and a Type C meeting with the FDA has been conducted. Replimune's cash reserves are expected to last until early 2026. REPL shares dropped 45.20% in premarket trading.

Portfolio Pulse from Vandana Singh

December 05, 2023 | 1:49 pm

AYRO

AYRO, Inc. has received a 40-unit fleet order from a Fortune 100 retailer for its newly released AYRO Vanish low-speed electric vehicles (LSEVs). The order, facilitated by dealer Garage Carts/Golf Cars of Northwest Arkansas, marks a significant milestone for AYRO following the production launch of the Vanish. The vehicles will be used for operations, landscaping, maintenance, and material handling on the retailer's corporate campus. AYRO has also announced partnerships with other dealers and channel partners to expand its reach in North America.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:47 pm

CRGY

Raymond James analyst John Freeman has initiated coverage on Crescent Energy (NYSE:CRGY) with a Strong Buy rating and set a price target of $16.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:43 pm

BABA

BIDU

BTC

GLD

GTLB

PDD

SJM

TLT

TME

TTWO

Stock futures are down in premarket trading amid a risk-off sentiment triggered by Moody's downgrade of China's credit outlook. The iShares 20+ Year Treasury Bond ETF (TLT) is up, while Bitcoin (BTC) and SPDR Gold Trust (GLD) see minor losses. US-listed Chinese stocks, including PDD, BIDU, TME, JD, and BABA, are down. GitLab (GTLB) and The J.M. Smucker Company (SJM) are up on positive earnings and raised guidance, respectively. Take-Two Interactive (TTWO) is down due to a game trailer leak.

Portfolio Pulse from Piero Cingari

December 05, 2023 | 1:39 pm

XP Inc. shares are experiencing an uptick following an upgrade by JP Morgan from Neutral to Overweight, accompanied by a price target increase from $27 to $30.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:39 pm

SHOT

Safety Shot, Inc. (NASDAQ:SHOT) is engaged in litigation against Capybara Research and Benzinga for publishing and republishing content deemed harmful to the company and its investors. SHOT's CEO, Brian S John, is determined to pursue legal action against those involved in 'short and distort' campaigns. The company has enlisted The Basile Law Firm P.C., known for combating dilution funding, to assist in these legal efforts. The firm has a history of success in similar cases and is actively involved in RICO actions against dilution funders.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:39 pm

BTC-USD

DOGE-USD

A cryptocurrency analyst, Captain Faibik, predicts Dogecoin (DOGE) will experience a massive rally, increasing by over 700% to reach $0.70 by July 2024. Another analyst, Crypto Tony, also expressed optimism about DOGE's future. Dogecoin has recently seen a 16.3% increase over the past week, aligning with a broader rise in altcoins and meme coins as Bitcoin (BTC) surpassed $42,000 for the first time in 2023.

Portfolio Pulse from Mehab Qureshi

December 05, 2023 | 1:33 pm

CVS

CVS Health Corp (NYSE:CVS) introduced CVS 'CostVantage', a new drug pricing model aimed at transparency by using a clear formula for drug costs and reimbursements. This initiative will start in the first half of 2024, initially aiding cash-paying consumers and later expanding to employer plans and potentially government coverage. CVS also launched 'CVS Healthspire' for its Health Services segment and reaffirmed its FY23 guidance with adjusted EPS of $8.50-$8.70. For FY24, CVS projects revenues of at least $366 billion and adjusted EPS of at least $8.50, with an adjusted operating income of at least $17.2 billion and cash flow from operations of at least $12.5 billion. CVS shares rose 1.34% in premarket trading.

Portfolio Pulse from Vandana Singh

December 05, 2023 | 1:32 pm

PPG

PPG Industries (NYSE:PPG) has seen a 5.97% increase in short interest since the last report, with 1.66 million shares sold short, representing 0.71% of available shares. The average time to cover these short positions is 1.13 days. While an increase in short interest can indicate bearish sentiment, PPG's short interest is below its peer group average of 4.03%. This information suggests investor caution but does not necessarily predict a price drop.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 1:30 pm

Deere & Company's (NYSE:DE) short interest has increased by 6.93% since the last report, with 3.11 million shares sold short, representing 1.08% of available shares. It would take about 2.32 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Deere's short interest is below its peer group average of 2.77%.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 1:30 pm