Pre-Open Stock Movers 09/10: (ISEE) (AFRM) (SANW) Higher; (APLS) (COOK) (SUMO) Lower (more...)

September 10, 2021 9:30 AM EDT

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Pre-Open Stock Movers:

IVERIC bio (NASDAQ: ISEE) 56% HIGHER; gains following data from Apellis

Apellis Pharmaceuticals, Inc. (Nasdaq: APLS) 30.8% LOWER; reported top-line results from the Phase 3 DERBY and OAKS studies evaluating intravitreal pegcetacoplan, an investigational targeted C3 therapy, in 1,258 adults with geographic atrophy (GA) secondary to age-related macular degeneration (AMD). OAKS met the primary endpoint for both monthly and every-other-month treatment with pegcetacoplan, demonstrating a significant reduction in GA lesion growth of 22% (p=0.0003) and 16% (p=0.0052), respectively, compared to pooled sham at 12 months. DERBY did not meet the primary endpoint of GA lesion growth, showing a reduction of 12% (p=0.0528) and 11% (p=0.0750) with monthly and every-other-month treatment, respectively, compared to pooled sham at 12 months.

Affirm Holdings, Inc. (NASDAQ: AFRM) 21% HIGHER; reported Q4 EPS of ($0.48), $0.19 worse than the analyst estimate of ($0.29). Revenue for the quarter came in at $261.8 million versus the consensus estimate of $225.29 million. Affirm Holdings, Inc. sees Q1 2022 revenue of $240-250 million, versus the consensus of $233.9 million. Affirm Holdings, Inc. sees FY2022 revenue of $1.16-1.19 billion, versus the consensus of $1.17 billion.

S&W Seed Company (Nasdaq: SANW) 20.6% HIGHER; Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage manufacturing industry, and S&W Seed Company (Nasdaq: SANW), a global integrated agricultural seed technology company, today announced the companies have entered into an exclusive U.S. stevia pilot production supply agreement. Under the terms of the agreement, S&W will leverage its proprietary stevia plant portfolio and production techniques to supply Ingredion and its PureCircle by Ingredion group of companies, with high-quality, U.S.-sourced stevia plants.

Sumo Logic Inc. (NASDAQ: SUMO) 14% LOWER; reported Q2 EPS of ($0.11), $0.03 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $58.8 million versus the consensus estimate of $56.69 million. Sumo Logic Inc. sees Q3 2022 EPS of ($0.14), versus the consensus of ($0.15). Sumo Logic Inc. sees Q3 2022 revenue of $60.3-61.3 million, versus the consensus of $60.05 million. Sumo Logic Inc. sees FY2022 EPS of ($0.52)-($0.51), versus the consensus of ($0.56). Sumo Logic Inc. sees FY2022 revenue of $236.8-238.8 million, versus the consensus of $235.02 million

Katapult Holdings, Inc. (NASDAQ: KPLT) 10.5% HIGHER; gains on AFRM results.

Traeger, Inc. (NYSE: COOK) 9% LOWER; reported Q2 EPS of ($0.05), versus $0.17 reported last year. Revenue for the quarter came in at $213 million, versus $153.2 million reported last year. Traeger, Inc. sees FY2021 revenue of $760-770 million. Adjusted EBITDA is expected to be between $103 million and $108 million

Cedar Realty Trust (NYSE: CDR) 8.5% HIGHER; announced that its Board of Directors has initiated a dual-track process to review the Company's strategic alternatives in order to maximize shareholder value. As part of this process, Cedar is exploring, among other alternatives, a potential sale or merger involving the entire Company, and alternatively the potential sale of its core grocery-anchored shopping center portfolio and its mixed-use redevelopment projects.

American Outdoor Brands (NASDAQ: AOUT) 5% HIGHER; reported Q1 EPS of $0.48, $0.08 better than the analyst estimate of $0.40. Revenue for the quarter came in at $60.8 million versus the consensus estimate of $57.35 million. American Outdoor Brands sees FY2022 EPS of $2.02-$2.26, versus the consensus of $2.21. American Outdoor Brands sees FY2022 revenue of $280-295 million, versus the consensus of $291 million.

Cano Health (NYSE: CANO) 4% HIGHER; Cowen initiates coverage with an Outperform rating and a price target of $18.00.

Zumiez, Inc. (NASDAQ: ZUMZ) 3.5% LOWER; reported Q2 EPS of $0.94, $0.16 better than the analyst estimate of $0.78. Revenue for the quarter came in at $268.7 million versus the consensus estimate of $279.79 million.

Clover Health (NASDAQ: CLOV) 2.7% LOWER; Cowen analyst Gary Taylor initiates coverage with an Underperform rating and a price target of $7.00.

Editas Medicine (NASDAQ: EDIT) 2.5% HIGHER; Oppenheimer upgraded from Perform to Outperform with a price target of $80.00 (from $42.00).

Take-Two Interactive Software, Inc. (NASDAQ: TTWO) 2.4% LOWER; reiterated its outlook for its fiscal year 2022, ending March 31, 2022, which was originally provided on May 18, 2021 and reiterated on August 2, 2021. The Company’s wholly-owned label, Rockstar Games, has announced that the expanded and enhanced versions of Grand Theft Auto V and Grand Theft Auto Online for PlayStation 5 and Xbox Series X|S, which had been planned for release on November 11, 2021, are now planned to launch in March 2022 to allow additional time to further polish the final products.

Zscaler (NASDAQ: ZS) 2.2% HIGHER; reported Q4 EPS of $0.14, $0.05 better than the analyst estimate of $0.09. Revenue for the quarter came in at $197.1 million versus the consensus estimate of $186.82 million. Zscaler sees Q1 2022 EPS of $0.12, versus the consensus of $0.12. Zscaler sees Q1 2022 revenue of $210-212 million, versus the consensus of $199.7 million. Zscaler sees FY2022 EPS of $0.52-$0.56, versus the consensus of $0.56. Zscaler sees FY2022 revenue of $940-950 million, versus the consensus of $905.8 million.



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