Gapping down
In reaction to earnings/guidance:
- APHA -9.5%
Select Biotech/Pharma related names showing early weakness following AACR presentations:
- GLSI -10.4%, JNCE -2.9%, MEIP -2.3%, OCX -2.2%, PHIO -2.2%, BDTX -2.1%, GLYC -1.7%, MRSN -1.6%
Other news:
- IRTC -29% (provides statement on Medicare Administrative Contractor Novitas's updated rate publication; plan to discontinue serving this Medicare segment with Zio XT)
- INMB -6.1% (files for 1.693 mln share common stock offering by selling shareholder)
- AVTR -3.6% (to acquire privately held Ritter GmbH, a manufacturer of robotic and liquid handling consumables, in an all-cash transaction with an upfront equity purchase price of ~EUR 890 million)
- FSM -1.1% (Q1 production)
Analyst comments:
- EURN -4.3% (downgraded to Hold from Buy at ING Group)
- JKS -3.4% (downgraded to Neutral from Buy at ROTH Capital)
- MAXN -2.1% (downgraded to Neutral from Buy at ROTH Capital)
- PLUG -2% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
- PAC -1% (downgraded to Neutral from Buy at Goldman)
- KNX -0.9% (downgraded to Neutral from Positive at Susquehanna)
- QCOM -0.8% (downgraded to In-line from Outperform at Evercore ISI)