Pre-Open Stock Movers 01/13: (BTCS) (ADGI) (PBYI) Higher; (DNLI) (SPCE) (ESTC) Lower (more...)

January 13, 2022 9:27 AM EST

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Pre-Open Stock Movers:

Denali Therapeutics Inc. (NASDAQ: DNLI) 22.2% LOWER; announced that after the close of business (Eastern Time) on Wednesday, January 12, 2022, the company was informed via e-mail communication from the U.S. Food and Drug Administration (FDA) that the DNL919 (ATV:TREM2) Investigational New Drug (IND) application has been placed on clinical hold. The FDA indicated they will provide an official clinical hold letter to Denali in approximately 30 days. Denali plans to provide additional updates pending discussion with the FDA.

BTCS Inc. (Nasdaq: BTCS) 20% HIGHER; announces it has added Algorand (“ALGO”) to its infrastructure staking operations. Algorand’s blockchain features asset development, atomic swaps and smart contract execution. BTCS earns revenue by being rewarded with additional tokens. The Company has also deployed a proprietary script to compound its rewards daily.

Adagio Therapeutics (NASDAQ: ADGI) 16.5% HIGHER; summarized recent findings reported in three separate publications that show ADG20, its lead monoclonal antibody (mAb), has neutralization activity against the Omicron (B.1.1.529) variant of SARS-CoV-2, and outlined initiatives to address current and future SARS-CoV-2 variants of concern.

Virgin Galactic Holdings, Inc. (NYSE: SPCE) 10.2% LOWER; announced its intention to offer, subject to market and other conditions, $425 million aggregate principal amount of convertible senior notes due 2027 (the notes) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act). Virgin Galactic also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date when the notes are first issued, up to an additional $75 million principal amount of notes.

Puma Biotechnology, Inc. (Nasdaq: PBYI) 10% HIGHER; announced that the National Comprehensive Cancer Network (NCCN) Clinical Practice Guidelines in Oncology (NCCN Guidelines) for the treatment of breast cancer have been updated for 2022 and include two important changes involving neratinib (NERLYNX®).

KB Home (NYSE: KBH) 9.9% HIGHER; reported Q4 EPS of $1.91, $0.15 better than the analyst estimate of $1.76. Revenue for the quarter came in at $1.68 billion versus the consensus estimate of $1.71 billion.

VYNE Therapeutics Inc. (Nasdaq: VYNE) 8% HIGHER; announced that it has sold its Molecule Stabilizing Technology (MST) franchise, including AMZEEQ® (minocycline) topical foam, 4%, and ZILXI® (minocycline) topical foam, 1.5%, to Journey Medical Corporation (Nasdaq: DERM) (Journey).

Elastic (NYSE: ESTC) 6.4% LOWER; announced the promotion of Ashutosh (Ash) Kulkarni to CEO and his nomination to the Board of Directors. Kulkarni will succeed Founder and CEO Shay Banon, who reassumes the role of Chief Technology Officer, and will continue to serve on the Board of Directors.

HCI Group, Inc. (NYSE: HCI) 4.4% LOWER; IPO for TypTap Insurance unit delayed.

SolarEdge Technologies (NASDAQ: SEDG) 3.4% HIGHER; Guggenheim upgraded from Neutral to Buy with a price target of $329.00.

Marqeta Inc. (NASDAQ: MQ) 2.9% HIGHER; Mizuho Securities upgraded from Neutral to Buy with a price target of $20.00 (from $27.00).

Delta Air Lines (NYSE: DAL) 2.5% HIGHER; reported Q4 EPS of $0.22, $0.08 better than the analyst estimate of $0.14. Revenue for the quarter came in at $9.47 billion versus the consensus estimate of $9.21 billion.

ResMed Inc. (NYSE: RMD) 2.4% HIGHER; upgraded at Baird and CLSA

Spirit AeroSystems Holdings, Inc. (NYSE: SPR) 2.4% HIGHER; gains on Boeing China news.

Ares Capital Corporation (Nasdaq: ARCC) 2.3% LOWER; announced that it plans to make a public offering of 10,000,000 shares of its common stock.

Boeing's (NYSE: BA) 2.3% HIGHER; 737 Max is poised to resume commercial flights in China as soon as this month, according to Bloomberg, citing people familiar with the matter.

Charles Schwab (NYSE: SCHW) 1.7% LOWER; Block Trade Is Said To Offer 7M Shares Via Goldman Sachs

VMware (NYSE: VMW) 1.5% HIGHER; Monness, Crespi, Hardt upgraded from Neutral to Buy

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