Why Is Verastem (VSTM) Stock Down 62% Today?

Sensei Biotherapeutics stock is falling on Friday after it failed to impress investors with its latest Phase 1/2 clinical trial data for SNS-101.

SNS-101 is a human monoclonal antibody targeting the immune checkpoint VISTA. The company notes this has it being developed to treat solid cancer tumors.

The bad news for Sensei Biotherapeutics comes from its results in this trial. The company notes that only a few patients of the 34 treated showed signs of improvement. That doesn’t seem to be sitting well with SNSE stockholders today.

Dr. Shiraj Sen, a principal investigator in the SNS-101 study, said the following about the results:

SNSE Stock Market Movement on Friday

SNSE stock is seeing a decent amount of trading on Friday morning. This has more than 160,000 shares changing hands as of this writing. That’s closing in on its daily average trading volume of about 208,000 shares.

SNSE stock is down 39.8% as of Friday morning. However, shares were up 83.5% year-to-date (YTD) when markets closed yesterday.

Investors looking for more of the most recent stock market stories are in luck!

We have all of the hottest stock market news traders need to know about on Friday! That includes what’s going on with shares of Tharimmune stock, Netcapital stock and Akanda stock today. All of this info is good to go at the links below!

More Stock Market News for Friday

• Why Is Tharimmune (THAR) Stock Moving Today?
• Why Is Netcapital (NCPL) Stock Up 73% Today?
• Why Is Akanda (AKAN) Stock Up 133% Today?

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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Tharimmune stock is on the move Friday as investors prepare for the company’s shares to undergo a reverse split when markets close today.

Tharimmune is enacting a 1-for-15 reverse stock split for THAR shares. The shares will still trade under the THAR ticker but will switch to the new CUSIP number 432705309.

Tharimmune notes that this split will see it consolidate every 15 shares of its stock into a single share. The company says that this will leave it with 785,978 shares of THAR stock after the reverse split is complete.

What’s Behind the THAR Reverse Stock Split?

Tharimmune is moving forward with this reverse stock split to boost the price of its shares. The company wants to boost its share price to reach the $1 minimum bid required to remain on the Nasdaq. The stock was trading for about 33 cents per share when markets closed yesterday.

Tharimmune wants to remain listed as it’s still only a clinical-stage biotechnology company. That means it doesn’t have a product to sell just yet. Remaining publicly listed is its goal leading up to a potential drug candidate release.

THAR stock is up 3.7% as of Friday morning ahead of the reverse split. However, the company’s shares were down 34.5% year-to-date (YTD) when markets closed on Thursday.

Investors will find more of the most recent stock market stories below!

We have all of the hottest stock market news traders need to know about on Friday! A few examples include what’s happening with shares of Netcapital and Akanda stock as well as the biggest pre-market stock movers this morning. All of this news is ready at the links below!

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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• Another “Gutenberg Moment” Is Here… and You Won’t Want to Miss It
• Tesla Stock Warning: Don’t Bother Trying to Fix This Flat Tire
• How Quantum Computing Is Already Changing the World

We’re diving into the biggest pre-market stock movers that traders need to know about on Friday morning!

Moving stocks this morning are earnings reports, shutdown plans, clinical trial data and more.

Let’s get into that news below!

Biggest Pre-Market Stock Movers: 10 Top Gainers

• Akanda stock is rocketing more than 94 % with heavy trading after a reverse split.
• Netcapital shares are soaring over 71% alongside strong pre-market trading.
• Cue Health stock is surging more than 42% despite shutdown plans.
• Verastem shares are rising over 35% on positive pancreatic cancer drug data.
• Yoshitsu stock is gaining more than 31% with heavy pre-market trading today.
• Windtree Therapeutics shares are climbing over 24% despite a lack of news today.
• Blue Star Foods stock is increasing more than 23% with strong trading on Friday.
• Innovative Eyewear shares are heading over 18% higher with heavy trading today.
• Merus stock is jumping 18% after reporting plans for its annual shareholder meeting.
• OneMedNet shares are up 17% as it continues to rally today.

10 Top Losers

• Tharimmune stock is crashing more than 93% ahead of a reverse stock split.
• Soluna shares are plummeting over 43% without any clear news today.
• Sensei Biotherapeutics stock is diving more than 32% alongside Phase 1 clinical trial data.
• Barnes & Noble Education shares are tumbling over 22% alongside preliminary earnings.
• Companhia Energetica de Minas Gerais stock is taking a more than 21% beating on Friday morning.
• Summit Therapeutics shares are sliding 19% this morning.
• Zoomcar stock is dropping over 14% after issuing an unsecured note.
• Akoustis Technologies shares are decreasing more than 14% following a recent rally.
• Roadzen stock is falling 13% on Friday.
• Solowin shares close out our pre-market stock movers down close to 13%.

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

More from InvestorPlace

• Another “Gutenberg Moment” Is Here… and You Won’t Want to Miss It
• Tesla Stock Warning: Don’t Bother Trying to Fix This Flat Tire
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Tharimmune Inc shares are trading lower by 16.4% to $0.33 during Wednesday’s session after the company announced a 1-for-15 reverse stock split of its common stock effective after trading closes on May 24.

The post-split trading will begin on May 28. Approved by shareholders on May 14, the split will consolidate every 15 shares into 1 share, with fractional shares rounded up. This adjustment will reduce the outstanding common stock to approximately 785,978 shares and proportionally adjust equity awards.

The reverse split aims to meet Nasdaq’s $1.00 per share minimum bid price requirement for continued listing, though compliance is not guaranteed.

See Also: Mortgage Applications Climb For Third Week As 30-Year Interest Rates Drop

Should I Sell My THAR Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Tharimmune have decreased by 96.44% in the past year. An investor who bought shares of Tharimmune at the beginning of the year would take a loss of $0.18 per share if they sold it today. The stock has fallen 13.51% over the past month, meaning an investor who bought shares on Apr. 1 would see a capital loss of $0.14.

Tharimmune shares have an all-time high of $102.5, representing 31169.16% upside from current levels.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Tharimmune stock currently has an RSI of 56.51, indicating neutral conditions.

According to data from Benzinga Pro, THAR has a 52-week high of $9.50 and a 52-week low of $0.30.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Tharimmune said Wednesday it will implement a 1-for-15 reverse stock split after the close of trading on Nasdaq on Friday.

The company said its shares will trade on a post-split basis under their current ticker symbol when the market opens on Tuesday.

The reverse stock split mainly aims to bring Tharimmune into compliance with Nasdaq's $1 per share minimum bid price rule for continued listing, the company said.

Tharimmune shares retreated by nearly 11% in recent trading.