After-Hours Stock Movers:

Agrify Corporation (Nasdaq: AGFY) 14.5% HIGHER; announced it has acquired Precision Extraction Solutions and Cascade Sciences, two of the leading brands that provide equipment and solutions for extraction, post-processing, and testing for the cannabis and hemp industry, from Sinclair Scientific.

Comtech Telecom (NASDAQ: CMTL) 11.4% LOWER; reported Q4 EPS of $0.23, $0.01 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $145.8 million versus the consensus estimate of $149.66 million. Comtech Telecom sees FY2022 revenue of $580-600 million, versus the consensus of $585 million.

Prometheus Biosciences Inc (NASDAQ: RXDX) 7% HIGHER; Oppenheimer initiates coverage with an Outperform rating and a price target of $35.00.

Rayonier Advanced Materials Inc. (NYSE: RYAM) 4.4% HIGHER; announced today that, effective immediately, it will increase prices for all its Cellulose Specialties products by a minimum 15 to 30 percent depending on product grade, as contracts allow. The purpose of this increase is to help the Company offset the accelerating impacts of cost inflation throughout its global supply chain.

The Duckhorn Portfolio, Inc. (NYSE: NAPA) 4.1% HIGHER; reported Q4 EPS of $0.08, $0.07 better than the analyst estimate of $0.01. Revenue for the quarter came in at $70.9 million. The Duckhorn Portfolio, Inc. sees FY2022 EPS of $0.54-$0.57.

Cybin Inc. (NYSE: CYBN) 3.8% HIGHER; Oppenheimer initiates coverage with an Outperform rating and a price target of $7.00.

Xenon Pharmaceuticals Inc. (Nasdaq: XENE) 1.8% HIGHER; adds to 102% intr-day gain on positive trial data. After the close, the company commenced an underwritten public offering of $250 million of its common shares pursuant to its existing shelf registration statement.

Lululemon Athletica Inc. (NASDAQ: LULU) 0.6% HIGHER; disclosed that its board of directors approved a $500 million increase in the authorization of the company's current stock repurchase program to $641.2 million from $141.2 million.