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REGN

A significant bearish stance has been taken on Regeneron Pharmaceuticals (NASDAQ:REGN) by a large investor or institution, as indicated by unusual options trading activity. The sentiment among these big-money traders is 23% bullish and 76% bearish. The whales have been targeting a price range from $760.0 to $930.0 for REGN over the last 3 months. The current price of REGN is down -2.52% at $698.04. Several financial institutions have downgraded their ratings on REGN.

Portfolio Pulse from Benzinga Insights

June 28, 2023 | 1:51 pm

LRCX

A significant amount of unusual options activity has been observed for Lam Research (NASDAQ:LRCX), with a majority of investors taking a bearish stance. The price range targeted by these investors over the last 3 months is from $620.0 to $1020.0. The company's stock price is currently down by 1.7% at $638.13. Analysts from Mizuho, UBS, and Wells Fargo have given price targets of $520, $725, and $620 respectively.

Portfolio Pulse from Benzinga Insights

June 28, 2023 | 1:51 pm

SQSP

B. Riley Securities has initiated coverage on Squarespace with a Buy rating and a price target of $40. This has led to an increase in the trading of Squarespace shares.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 1:47 pm

NFLX

Netflix shares are trading higher after Oppenheimer maintained an Outperform rating on the stock and raised its price target from $450 to $500.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 1:45 pm

TOVX

Theriva Biologics Inc's shares are trading higher after the FDA granted orphan drug designation to VCN-01, the company's systemic, selective, stroma-degrading oncolytic adenovirus for the treatment of pancreatic cancer. The drug is being evaluated in combination with standard-of-care chemotherapy as a first line therapy for patients with pancreatic ductal adenocarcinoma. The FDA had previously granted orphan drug designation to VCN-01 for the treatment of retinoblastoma.

Portfolio Pulse from Adam Eckert

June 28, 2023 | 1:43 pm

NVDA

SOXL

Shares of Direxion Daily Semiconductor Bull 3X Shares (SOXL) are trading lower due to reports of the U.S. planning to revise its export controls on AI chips to limit China's access to advanced technologies. The Biden administration is considering new restrictions on AI chip exports to China, which may require a license for chip shipments made by companies like NVIDIA Corp (NVDA). This could disrupt the supply chain for AI chips, leading to decreased revenue and earnings for these companies and negatively affecting the overall performance of the semiconductor sector.

Portfolio Pulse from Henry Khederian

June 28, 2023 | 1:42 pm

SONN

Sonnet BioTherapeutics Holdings, Inc. (SONN) announced a $2.25 million registered direct offering of 5 million shares at 45 cents per share, causing its stock to drop by 26.18%. The company will also issue warrants for the investor to purchase up to 5 million additional shares at 67.49 cents per share. The proceeds will be used for R&D, clinical trials, working capital, and general corporate purposes.

Portfolio Pulse from Henry Khederian

June 28, 2023 | 1:41 pm

VGK

European Central Bank's (ECB) President Christine Lagarde has indicated that if the current economic baseline stands, the ECB is likely to hike interest rates in July. This could impact the Vanguard FTSE Europe ETF (VGK), which tracks the performance of the European stock market.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 1:40 pm

SPY

VGK

President Biden has stated that it is difficult to determine whether Russian President Putin has been weakened by recent events. The impact of these events on the US and European markets, represented by SPY and VGK respectively, is uncertain.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 1:37 pm

AMZN

Samsung Electronics Co. Ltd’s fourth-generation foldable smartphone, the Galaxy Z Fold 4, is now available at a discounted price of $1,350 for the 256GB variant on Amazon.com Inc. (NASDAQ:AMZN). The deal comes a month before the Galaxy Z Fold 5 launch. Amazon also has the 512GB variant on sale at $1,470. Verizon is offering up to $1,200 off via rebate and a gift voucher, bundling a 43-inch Samsung 4K TV to make the deal more attractive.

Portfolio Pulse from Rounak Jain

June 28, 2023 | 1:33 pm