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HSCS

Heart Test Laboratories has initiated a 1-for-100 reverse stock split, which began trading on a split-adjusted basis on May 17, 2024, on the Nasdaq Capital Market.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 4:48 pm

BNTX

MRNA

PFE

Moderna Inc. (NASDAQ:MRNA) has won a significant legal victory at the European Patent Office (EPO) in its patent dispute with Pfizer Inc. (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) over the COVID-19 vaccine. The EPO upheld the validity of Moderna's EP949 patent, which is crucial for its claims against Pfizer and BioNTech. Although Pfizer has nine months to appeal, this decision boosts Moderna's efforts to reclaim pandemic profits. Legal proceedings continue in multiple jurisdictions, and the financial stakes are high, with all three companies having generated significant revenue from COVID-19 vaccines in 2022.

Portfolio Pulse from Vandana Singh

May 17, 2024 | 4:46 pm

MRVL

Deep-pocketed investors have shown a bearish sentiment towards Marvell Tech (NASDAQ:MRVL) through significant options activity. Benzinga's options scanner highlighted 20 extraordinary options trades, with 45% being bearish. The stock is currently priced at $73.5, up 0.57%, but RSI indicators suggest it may be overbought. Analysts have set an average price target of $85.0.

Portfolio Pulse from Benzinga Insights

May 17, 2024 | 4:46 pm

CFLT

DAT

SPRX

Oppenheimer analyst Ittai Kidron initiated coverage on Confluent Inc (NASDAQ:CFLT) with an Outperform rating and a price target of $37, citing its unique event streaming technology and significant market potential. Confluent's total addressable market is projected to grow from $51.6 billion in 2022 to $98.4 billion by 2027. The analyst expects Confluent to benefit from the rising importance of real-time data and projects revenue growth of 23% and 25% in 2024 and 2025, respectively. Confluent stock has gained over 18% in the last 12 months. Investors can also gain exposure through ProShares Big Data Refiners ETF (NYSE:DAT) and Spear Alpha ETF (NASDAQ:SPRX).

Portfolio Pulse from Anusuya Lahiri

May 17, 2024 | 4:43 pm

COIN

BofA Securities analyst Mark McLaughlin upgraded Coinbase Global, Inc (NASDAQ:COIN) to Neutral from Underperform, raising the price forecast to $217 from $110. The upgrade is driven by retail reengagement in crypto, operating leverage from expense cuts, and a more robust market environment. Risks include regulatory overhang and dependence on transaction revenue.

Portfolio Pulse from Nabaparna Bhattacharya

May 17, 2024 | 4:38 pm

HOOD

Robinhood Markets Inc (NASDAQ:HOOD) shares surged after B&A Securities analyst Craig Siegenthaler upgraded the stock from Underperform to Buy and raised its price target from $14 to $24. The analyst cited favorable macroeconomic conditions, increased retail engagement, and Robinhood's profitability as key factors. HOOD reported a record 40% adjusted EBITDA margin for the quarter and aims for 50% over time.

Portfolio Pulse from Anusuya Lahiri

May 17, 2024 | 4:38 pm

CTNT

EJH

FFIE

GME

TUP

The article highlights significant intraday movements in consumer discretionary stocks. Faraday Future (FFIE) saw a remarkable 118.8% increase, while Tupperware Brands (TUP) rose by 38.6%. On the losing side, E-Home Household Service (EJH) declined by 31.7%, and GameStop (GME) fell by 24.01%.

Portfolio Pulse from Benzinga Insights

May 17, 2024 | 4:31 pm

ABIO

AKAN

BBLG

CDIO

DOCS

KTTA

LSDI

NBY

ONCO

RNAZ

SINT

SNOA

The article highlights significant intraday movements in health care stocks on Friday. Akanda, NovaBay Pharmaceuticals, Pasithea Therapeutics, TransCode Therapeutics, Onconetix, and Doximity saw notable gains, while Lucy Scientific Discovery, SINTX Techs, Bone Biologics, ARCA biopharma, Cardio Diagnostics Holdings, and Sonoma Pharmaceuticals experienced declines.

Portfolio Pulse from Benzinga Insights

May 17, 2024 | 4:31 pm

NFLX

Recent unusual options activity for Netflix (NASDAQ:NFLX) indicates a bullish stance from big-money investors, with 39 call options and 10 put options traded. The overall sentiment is mixed, with 22% bullish and 18% bearish. Analysts have varied price targets, ranging from $540 to $725.

Portfolio Pulse from Benzinga Insights

May 17, 2024 | 4:31 pm

CMG

Recent options activity for Chipotle Mexican Grill (NYSE:CMG) shows a mixed sentiment among investors, with a slight bearish tilt. Significant trades include both calls and puts, with a predicted price range of $2300 to $3450. Analysts maintain mostly positive ratings with high target prices.

Portfolio Pulse from Benzinga Insights

May 17, 2024 | 4:31 pm