Pre-Open Stock Movers 03/03: (KMPH) (OVID) (UWMC) Higher; (SSYS) (RKT) (ARNA) Lower (more...)

March 3, 2021 9:28 AM EST

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Today's Pre-Open Movers

KemPharm, Inc. (NASDAQ: KMPH) 74.6% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has approved the New Drug Application for (NDA) AZSTARYS (formerly referred to as KP415), a once-daily product for the treatment of attention deficit hyperactivity disorder (ADHD) in patients age six years and older. AZSTARYS consists of serdexmethylphenidate (SDX), KemPharms prodrug of d-methylphenidate (d-MPH), co-formulated with immediate-release d-MPH.

Ovid Therapeutics Inc. (NASDAQ: OVID) 63.9% HIGHER; Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (Takeda) and Ovid Therapeutics Inc. (NASDAQ: OVID) (Ovid), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare neurological diseases, today announced that Takeda has entered into an exclusive agreement under which Takeda will secure global rights at closing from Ovid to develop and commercialize the investigational medicine soticlestat (TAK-935/OV935) for the treatment of developmental and epileptic encephalopathies, including Dravet syndrome (DS) and Lennox-Gastaut syndrome (LGS).

UWM Holdings (NYSE: UWMC) 32.4% HIGHER; gains with RKT

Ocugen, Inc. (NASDAQ: OCGN) 25.1% HIGHER; announced that its co-development partner, Bharat Biotech, announced the results of the first interim analysis of its Phase 3 study of COVAXIN, a whole virion inactivated COVID-19 vaccine candidate. COVAXIN demonstrated a vaccine efficacy of 81%.

Asensus Surgical, Inc. (NYSE: TRXC) 24.1% HIGHER; announced the Company has received an additional FDA clearance for the Senhance Surgical System which allows for indication expansion in general surgery in the United States.

Heat Biologics (NASDAQ: HTBX) 23.3% HIGHER; Cantor Fitzgerald initiates coverage with an Overweight rating and a price target of $22.00.

Maravai LifeSciences (NASDAQ: MRVI) 20.5% HIGHER; reported Q4 EPS of $0.13, $0.02 better than the analyst estimate of $0.11. Revenue for the quarter came in at $98.4 million versus the consensus estimate of $89.02 million. Maravai LifeSciences sees FY2021 EPS of $0.80-$0.90, versus the consensus of $0.61. Maravai LifeSciences sees FY2021 revenue of $580-630 million, versus the consensus of $429.55 million.

Horizon Acquisition Corporation II (NYSE: HZON) 18.5% HIGHER; Swiss gambling data company Sportrader AG is in talks to go public through Todd Boehly's SPAC, Horizon Acquisition Corporation II (NYSE: HZON), according to Bloomberg, citing people with knowledge of the matter. A transaction value couldn't immediately be learned.

Stratasys Ltd. (NASDAQ: SSYS) 15% LOWER; announced that it has priced an underwritten public offering of 6,896,552 of its ordinary shares at a price to the public of $29.00 per ordinary share.

Riot Blockchain, Inc. (NASDAQ: RIOT) 10.7% HIGHER; gains with Bitcoin

Rocket Companies, Inc. (NYSE: RKT) 10.5% LOWER; downgraded at RBC after 71% surge yesterday.

Ambarella (NASDAQ: AMBA) 8.9% HIGHER; reported Q4 EPS of $0.14, $0.06 better than the analyst estimate of $0.08. Revenue for the quarter came in at $62.1 million versus the consensus estimate of $58.14 million. Ambarella sees Q1 2022 revenue of $67-70 million, versus the consensus of $56.4 million.

Marathon Digital Holdings, Inc. (NASDAQ: MARA) 7.9% HIGHER; gains with Bitcoin

Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) 7.6% LOWER; announced topline results from the randomized, double-blind, placebo-controlled Phase 2b CAPTIVATE clinical trial evaluating three doses of olorinab, a novel, oral, peripherally acting, highly selective, full agonist of the cannabinoid receptor 2 (CB2), in participants with abdominal pain due to Irritable Bowel Syndrome (IBS). The CAPTIVATE trial randomized a total of 273 participants and was conducted in study sites across the United States. The results show that, although olorinab was well tolerated, it did not meet the primary efficacy endpoint of statistically significant improvement in the overall AAPS from baseline to week 12.

Bit Digital, Inc. (NASDAQ: BTBT) 6.9% HIGHER; gains with Bitcoin

B&G Foods (NYSE: BGS) 6.7% LOWER; reported Q4 EPS of $0.35, $0.10 worse than the analyst estimate of $0.45. Revenue for the quarter came in at $510.2 million versus the consensus estimate of $531.12 million. B&G Foods sees FY2021 revenue of $2.05-2.1 billion, versus the consensus of $2.03 billion.

Magnolia Oil & Gas Corporation (NYSE: MGY) 6% LOWER; announced that it has commenced an underwritten public offering of an aggregate 17,000,000 shares of the Company’s Class A common stock by certain affiliates of EnerVest, Ltd.. The Selling Stockholders expect to grant the underwriters a 30-day option to purchase up to an aggregate additional 2,550,000 shares of Class A Common Stock. Magnolia will not sell any shares of its Class A Common Stock in the Offering or receive any proceeds from the Offering.

Sorrento Therapeutics, Inc. (Nasdaq: SRNE) 5.9% HIGHER; announced today that it has received clearance from the FDA for its Investigational New Drug application (IND) for its Phase 1 study of the safety and pharmacokinetics of intranasal (IN) STI-2099 (COVIDROPS) in both healthy volunteers and patients with mild COVID-19.

MicroStrategy Incorporated (NASDAQ: MSTR) 5.4% HIGHER; gains with Bitcoin

Lyft (NASDAQ: LYFT) 4.8% HIGHER; Announces Positive Update; Average Daily Rideshare Ride Volume in February rose 5.4%, Sees Improved EBITDA Loss in Q1.

Capitol Investment Corp. V (NYSE: CAP) 4.8% HIGHER; Doma, formerly known as States Title, a leading force for disruptive change in the real estate industry, has entered into a definitive business combination agreement with SPAC Capitol Investment Corp. V (NYSE: CAP).

Ross Stores (NASDAQ: ROST) 4.2% LOWER; reported Q4 EPS of $0.67, $0.33 worse than the analyst estimate of $1.00. Revenue for the quarter came in at $4.25 billion versus the consensus estimate of $4.27 billion. Ross Stores sees Q1 2021 EPS of $0.74-$0.86, versus the consensus of $0.89.

Big 5 Sporting Goods (NASDAQ: BGFV) 3.8% HIGHER; reported Q4 EPS of $0.95, $0.05 better than the analyst estimate of $0.90. Revenue for the quarter came in at $290.6 million versus the consensus estimate of $290.5 million. Big 5 Sporting Goods sees Q1 2021 EPS of $0.47-$0.53, versus the consensus of $0.23.

Fiverr International Ltd. (NYSE: FVRR) 3.8% LOWER; announced today the commencement of an underwritten public offering of $700,000,000 of its ordinary shares.

PLx Pharma Inc. (NASDAQ: PLXP) 3.7% LOWER; intends to offer shares of its common stock for sale in an underwritten public offering. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering at the public offering price, less underwriting discounts and commissions.



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