Pre-Open Stock Movers 01/06: (MGTA) (SLGC) (BBBY) Higher; (BLI) (STRO) (WU) Lower (more...)

Pre-Open Stock Movers:

Berkeley Lights, Inc., (Nasdaq: BLI) 30% LOWER; Eric D. Hobbs, Ph.D., the company’s CEO and Board Member, will transition from his role to the president of the Antibody Therapeutics, to focus on growing the company’s largest business line. Provides outlook.

Sutro Biopharma, Inc. (NASDAQ: STRO) 18.5% LOWER; provided a clinical update from the Company's ongoing, fully enrolled, dose-expansion Phase 1 study of STRO-002, a folate receptor alpha (FolR)-targeting antibody-drug conjugate (ADC), for patients with advanced ovarian cancer. Discussion of these data will be held at a STRO-002 Virtual Event at 2 pm PT/5 pm ET today.

Magenta Therapeutics, Inc. (NASDAQ: MGTA) 15.3% HIGHER; upgraded to Buy at Goldman Sachs

SomaLogic (NASDAQ: SLGC) 11% HIGHER; announced a worldwide strategic collaboration with Illumina, a global next-generation sequencing technology leader. The multi-year partnership agreement will bring together genomics and proteomics technology platforms in a major commercial partnership to better enable and empower proteomics and multi-omics research worldwide.

Bed Bath & Beyond (NASDAQ: BBBY) 9.8% HIGHER; reported Q3 EPS of ($0.25), $0.25 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $1.88 billion versus the consensus estimate of $1.96 billion. Bed Bath & Beyond sees Q4 2021 EPS of $0.00-$0.15, versus the consensus of $0.72. Bed Bath & Beyond sees Q4 2021 revenue of $2.1 billion, versus the consensus of $2.27 billion.

Dynavax Technologies (NASDAQ: DVAX) 5% HIGHER; Goldman Sachs reinstates coverage with a Buy rating and a price target of $38.00.

Western Union Co. (NYSE: WU) 4.5% LOWER; BofA Securities downgraded from Buy to Underperform with a price target of $20.00.

Turtle Beach Corporation (Nasdaq: HEAR) 3.5% LOWER; expects to report full year 2021 revenue of approximately $365 million, in line with previously provided guidance of $365 to $380 million. Full year Adjusted EBITDA for 2021 is expected to be within, although at the lower end, of the previously provided guidance range of $36 to $44 million reflecting expected revenue. (*Consensus sees FY21 revenue of $374.8 million).

Akamai Technologies (NASDAQ: AKAM) 2.9% LOWER; Piper Sandler downgraded from Overweight to Neutral with a price target of $127.00 ahead of tough comps after updating the CDN tracker, revealed evidence of slowdowns in certain key sub sectors.

Datadog (NASDAQ: DDOG) 2.8% HIGHER; announced it entered into a partnership with Amazon’s (NASDAQ: AMZN) AWS for “Observability and Security.”

Walgreens Boots Alliance (NASDAQ: WBA) 2.7% HIGHER; reported Q1 EPS of $1.68, $0.35 better than the analyst estimate of $1.33. Revenue for the quarter came in at $33.9 billion versus the consensus estimate of $32.74 billion.

GitLab Inc (NASDAQ: GTLB) 1.6% HIGHER; Piper Sandler upgraded from Neutral to Overweight with a price target of $100.00 on the belief that the company's strong position in DevOps will lead into a platform opportunity in 2022.

BioNTech SE (NASDAQ: BNTX) 1.6% HIGHER; CDC Advisers Recommend BioNTech/Pfizer (NYSE: PFE) Booster Shot For Kids Ages 12-17 - Bloomberg

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