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Diabetes and glucose monitoring stocks are trading lower due to the FDA's announcement of a Digital Health Advisory Committee and early signs of efficacy in Novo Nordisk's Ozempic kidney trial. The sector has been under pressure this year due to the popularity of weight loss drugs.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 7:38 pm

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PL

Benchmark analyst Josh Sullivan reiterated a Buy rating on Planet Labs (PL) with a price target of $5. Sullivan believes PL's unique real-time and historical global mapping data is under-appreciated. He notes that PL is indexing the Earth for searchable items, similar to how Google indexed webpages. Sullivan is optimistic about PL's FY25 targets, including adjusted EBITDA profitability and 20%+ annual revenue growth. PL shares are currently trading lower by 4.8%.

Portfolio Pulse from Nabaparna Bhattacharya

October 11, 2023 | 7:38 pm

AKRO

Akero Therapeutics Inc (NASDAQ:AKRO) reported a 36-week analysis of SYMMETRY, a 96-week Phase 2b study of efruxifermin (EFX) in patients with compensated cirrhosis due to nonalcoholic steatohepatitis (NASH). The drug was not statistically significant in improving liver scarring without worsening of NASH, causing shares to tumble. HC Wainwright has lowered the price target from $64 to $40, with a Buy rating.

Portfolio Pulse from Vandana Singh

October 11, 2023 | 7:35 pm

BDX

Becton Dickinson's stock is trading lower possibly due to the establishment of a Digital Health Advisory Committee by the FDA.

Portfolio Pulse from Bill Haddad

October 11, 2023 | 7:32 pm

DXCM

DexCom's stock is trading lower possibly due to the establishment of a Digital Health Advisory Committee by the FDA.

Portfolio Pulse from Bill Haddad

October 11, 2023 | 7:31 pm

ZS

Zscaler's (NYSE:ZS) short percent of float has fallen 8.58% since its last report, with 5.34 million shares sold short, which is 5.97% of all regular shares available for trading. It would take traders 2.05 days to cover their short positions on average. The decrease in short interest can signal that investors have become more bullish. Zscaler's peer group average for short interest as a percentage of float is 5.03%, which means the company has more short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

October 11, 2023 | 7:30 pm

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Investor Anthony Pompliano warns that housing affordability in the U.S. has become a national crisis, with Goldman Sachs' home affordability index at its lowest in 26 years. Mortgage rates have risen to 8%, the highest in 20 years, leading to higher monthly payments. The real estate and housing industry have been negatively impacted, with Zillow Group, Opendoor Technologies, and Rocket Companies seeing significant stock declines. The iShares US Real Estate ETF is also down 7% YTD.

Portfolio Pulse from Aaron Bry

October 11, 2023 | 7:30 pm

TAK

Takeda Pharmaceutical's (NYSE:TAK) short percent of float has risen 52.38% since its last report, with 9.93 million shares sold short, which is 0.32% of all regular shares available for trading. It would take traders 5.32 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Takeda Pharmaceutical's peer group average for short interest as a percentage of float is 3.06%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

October 11, 2023 | 7:30 pm

INFY

Infosys's (NYSE:INFY) short percent of float has fallen 29.36% since its last report, with 31.81 million shares sold short, which is 0.77% of all regular shares available for trading. It would take traders 4.99 days to cover their short positions on average. The company has less short interest than most of its peers, with the peer group average for short interest as a percentage of float being 2.32%.

Portfolio Pulse from Benzinga Insights

October 11, 2023 | 7:30 pm

CMG

Chipotle Mexican Grill Inc. (CMG) plans to increase its prices after pausing hikes this year, according to CNBC. The decision comes as the company faces rising costs.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 7:24 pm