Pre-Open Stock Movers 07/12: (STFC) (CLDX) (SPI) Higher; (TBLT) (DIDI) (RKT) Lower (more...)

July 12, 2021 9:28 AM EDT

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Pre-Open Stock Movers

State Auto Financial Corporation (NASDAQ: STFC) 189% HIGHER; Liberty Mutual Holding Company Inc., State Automobile Mutual Insurance Company, and State Auto Financial Corporation (NASDAQ: STFC) announced today that they have signed a definitive agreement pursuant to which Liberty Mutual would acquire State Auto Group, a super-regional insurance holding company headquartered in Columbus, Ohio. Under the terms of the agreement, State Auto mutual members will become mutual members of Liberty Mutual and Liberty Mutual will acquire all of the publicly held shares of common stock of State Auto Financial for $52 per share in cash.

Celldex Therapeutics, Inc. (NASDAQ: CLDX) 32% HIGHER; announced updated data from the Companys ongoing, open label Phase 1b clinical trial of CDX-0159 in patients with antihistamine refractory cold urticaria and symptomatic dermographism, the two most common forms of chronic inducible urticaria. These diseases, which are often severe and debilitating, can significantly impact patients lives. CDX-0159 is a humanized monoclonal antibody that specifically binds the receptor tyrosine kinase KIT with high specificity and potently inhibits its activity.All 19/19 (100%) patients who received a single full dose of CDX-0159 experienced a clinical response to provocation testing. 18/19 (95%) experienced a complete response and 1/19 (5%) experienced a marked partial response.

ToughBuilt Industries, Inc. (NASDAQ: TBLT) 28.9% LOWER; entered into securities purchase agreements with certain institutional investors for the issuance and sale of 46,029,920 shares of common stock and warrants to purchase up to 23,014,960 shares of common stock, at a purchase price of $0.869 per share and accompanying warrant in a registered direct offering priced at-the-market under Nasdaq rules. The warrants will be immediately exercisable at an exercise price of $0.81 per share of common stock and will expire five years from the date of issuance. The closing of the offering is expected to occur on or about July 14, 2021, subject to the satisfaction of customary closing conditions.

SPI Energy Co., Ltd. (NASDAQ: SPI) 24.8% HIGHER; announced its wholly owned EdisonFuture, Inc. ("EdisonFuture") and Phoenix Motor Inc. subsidiary launch its next-generation electric pickup truck, EF1-T.

AST Spacemobile (NASDAQ: ASTS) 8.6% HIGHER; Barclays initiates coverage with an Overweight rating and a price target of $29.00.

Prothena Corporation plc (NASDAQ: PRTA) 6.4% HIGHER; Prothena and Novo Nordisk A/S (Nasdaq Copenhagen: NOVO B) today announced that the companies have entered into a definitive purchase agreement under which Novo Nordisk has acquired Prothenas clinical stage antibody PRX004 and broader ATTR amyloidosis programme.

Drive Shack Inc. (NYSE: DS) 4.1% HIGHER; announced today it has signed a definitive agreement with global golf superstar Rory McIlroy and his team. Their investment partnership, Symphony Ventures, will make a strategic investment in Puttery, Drive Shack Inc.s newest competitive socializing and entertainment golf experience.

Virgin Galactic (NYSE: SPCE) 4% HIGHER; successfully completed the fourth spaceflight test carrying founder Richard Branson.

DiDi Global Inc. (NYSE: DIDI) 3.2% LOWER; announced that: According to the announcement posted by the Cyberspace Administration of China on July 9, 2021, the CAC stated that it was confirmed that 25 apps operated by the Company in China, including the apps used by users and drivers, had the problem of collecting personal information in serious violation of relevant PRC laws and regulations. Pursuant to the PRC's Cybersecurity Law, the CAC notified app stores to take down these apps and cease to provide viewing and downloading service in China, and required the Company to strictly comply with relevant laws and regulations, follow the relevant standards set by the PRC government authorities, and rectify the problem to ensure the security of users' personal information. The Company expects that the app takedown may have an adverse impact on its revenue in China.

Upstart Holdings Inc (NASDAQ: UPST) 3.2% HIGHER; Goldman Sachsinitiates coverage with a Buy rating and a price target of $147.00.

Enochian BioSciences, Inc (NASDAQ: ENOB) 2% HIGHER; announced that the FDA has accepted a Pre-IND (Investigational New Drug) request for a potential cure of hepatitis B virus (HBV) infection. Written comments are expected this Fall.

Rocket Cos Inc. (NYSE: RKT) 1.7% LOWER; Jefferies downgraded from Buy to Hold with a price target of $18.00 (from $26.00).

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