Why Kaival Brands Innovations Shares Are Trading Lower By 47%? Here Are Other Stocks Moving In Friday's Mid-Day Session

Benzinga

Kaival Brands Innovations

-0.02%

American Rebel

+5.51%

American Rebel Holdings, Inc. Warrants

0.00%

Sharecare

0.00%

Sharecare, Inc. Warrant

0.00%

Shares of Kaival Brands Innovations Group, Inc. fell sharply during Friday's session after the company announced pricing of $6.0 million public offering.

Kaival Brands priced its 3,921,500 unit offering at $15.3 per unit.

Kaival Brands Innovations Group shares dipped 47% to $1.52 on Friday.

Here are some other stocks moving in today’s mid-day session.

Gainers

American Rebel Holdings, Inc. shares jumped 161% to $0.8048 after the company signed a Connecticut distribution agreement with Dichello Distributors.
Sharecare, Inc. jumped 74% to $1.35 after the company agreed to be acquired by Altaris affiliate for $1.43 per share in cash.
Spectaire Holdings Inc. shares surged 73% to $0.5883. The company recently announced a purchase order and delivery of its advanced AireCore units to American Ag Energy.
Minim, Inc. gained 48% to $4.2389.
Sarepta Therapeutics, Inc. rose 39.2% to $171.89 after the company announced FDA approval of an expansion to the labeled indication for ELEVIDYS to include individuals with Duchenne muscular dystrophy with a confirmed mutation in the DMD gene who are at least 4 years of age. Also, multiple firms raised their respective price targets on the stock.
Mustang Bio, Inc. gained 36.5% to $0.7661. Mustang Bio recently announced a $2.5 million registered direct offering of 6.130 million shares at $0.41 per share.
Clover Health Investments, Corp. shares climbed 31% to $1.35 following insider buying from the company's co-founder. After the market close on Thursday, Clover Health filed a Form 4 with the SEC showing that co-founder and executive chair Vivek Garipalli purchased 877,567 shares of Clover Health stock at an average price of $1.14 per share.
Orgenesis Inc. rose 29.4% to $0.58.
36Kr Holdings Inc. gained 26% to $0.4342 after the company announced that it has entered into a strategic partnership with SenseTime.
Qualigen Therapeutics, Inc. jumped 25% to $0.2196.
Eco Wave Power Global AB (publ) gained 21.3% to $2.68.
Universe Pharmaceuticals INC gained 19.9% to $2.7699.
Nexalin Technology, Inc. rose 19% to $1.3150. Nexalin Technology was recently awarded a patent by the USPTO related to its deep intracranial frequency stimulation device for the treatment of Alzheimer’s and dementia.
Gossamer Bio, Inc. jumped 17% to $0.6637.
Avid Bioservices, Inc. rose 13.7% to $7.75.
DermTech, Inc. gained 13.5% to $0.1337 after declining 19% on Thursday. DermTech recently filed for Chapter 11 protection and implemented a 20% workforce reduction to preserve cash.
Asana, Inc. rose 13.4% to $12.90 after the company announced a $150 million stock repurchase program.
Trinity Place Holdings Inc. shares rose 12.2% to $0.1440 after gaining more than 5% on Thursday.
Cabaletta Bio, Inc. gained 9.1% to $9.09.
ADTRAN Holdings, Inc. rose 8.7% to $5.65
Hertz Global Holdings, Inc. climbed 8.6% to $3.8150. The company revealed the upsize and pricing of $1 billion offerings, which comprised $750 million of First Lien Senior Secured Notes, which represents an upsize from the previously announced $500 million.
Zoomcar Holdings, Inc. rose 7.5% to $0.1570. Zoomcar announced closing of sale of $3.6 million notes private placement.

Losers

Psyence Biomedical Ltd. shares dipped 36% to $0.3820 after gaining 6% on Thursday.
Professional Diversity Network, Inc. shares fell 23.1% to $0.5012 after dipping around 14% on Thursday.
Reliance Global Group, Inc. shares fell 22.8% to $0.4668. Reliance Global shares jumped 54% on Thursday after the company announced an institutional investor has redeemed all of its outstanding Series B and Series G warrants.
Professional Diversity Network, Inc. dipped 22.5% to $0.5008.
Crown Electrokinetics Corp. declined 21.8% to $0.0391 after the company announced a 1-for-150 reverse stock split.
Allurion Technologies Inc. fell 21.5% to $2.0399. Allurion Technologies, on Thursday, announced the publication of a new study showing patients on its Allurion Program experienced an average weight loss of 14% and an average lean mass gain of 5.6% over four months.
Brand Engagement Network, Inc. fell 20.2% to $2.89.
African Agriculture Holdings Inc. declined 18% to $0.2376
SMX (Security Matters) Public Limited Company shares fell 17% to $0.1335 after gaining 35% on Thursday.
NANO Nuclear Energy Inc. shares fell 13.2% to $13.21 after surging 31% on Thursday.
SmartKem, Inc. fell 12.8% to $5.36.
Molecular Partners AG shares dipped 12.3% to $9.66 after jumping over 38% on Thursday.
Applied Digital Corporation fell 12% to $5.32.
Cipher Mining Inc. declined 11.5% to $4.6350.
Smith & Wesson Brands, Inc. fell 10.7% to $14.65 after the company reported quarterly earnings.
Abacus Life, Inc. shares declined 10.3% to $8.75 as the company priced $80 million public offering of 10 million common stock at $8 per share.
Trex Company, Inc. dipped 7.7% to $77.59.
Bloom Energy Corporation fell 6.3% to $13.14.

Now Read This: Wall Street’s Most Accurate Analysts Spotlight On 3 Tech And Telecom Stocks Delivering High-Dividend Yields

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Important July 30, 2024 Deadline Reminder: Kessler Topaz Meltzer & Check, Llp Reminds Hertz Global Holdings, Inc. (Htz) Investors Of Securities Fraud Class Action Lawsuit

Reuters

Hertz Global

+0.89%

2024-06-22 02:00:00

RADNOR, Pa., June 21, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Hertz Global Holdings, Inc. (“Hertz”) (NASDAQ: HTZ) in the United States District Court for the Middle District of Florida. The action charges Hertz with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company’s business, operations, and prospects. As a result of Hertz’s materially misleading statements and omissions to the public, Hertz’s investors have suffered significant losses. The lead plaintiff deadline is July 30, 2024.

If you suffered Hertz losses, you may CLICK HERE or go to: https://www.ktmc.com/new-cases/hertz-global-holdings-inc?utm_source=PR&utm_medium=link&utm_campaign=htz&mktm=r

You can also contact attorney Jonathan Naji, Esq. of Kessler Topaz by calling (484) 270-1453 or by email at info@ktmc.com.

DEFENDANTS’ ALLEGED MISCONDUCTOn January 11, 2024, Hertz revealed in a filing with the SEC that it would sell approximately 20,000 electric vehicles (“EVs”) from its U.S. fleet, or about one-third of its global EV fleet, "to better balance supply against expected demand of EVs." According to Hertz, this would "result in the recognition, during the fourth quarter of 2023, of approximately $245 million of incremental net depreciation expense related to the sale[,]" which "represents the write down of the EVs' carrying values as of December 31, 2023 to their fair values, less related expenses associated with the disposition of the vehicles."

Following this news, Hertz's stock price fell $0.40 per share, or 4.28%, to close at $8.95 per share on January 11, 2024.

On March 15, 2024, Hertz announced that its CEO and Chairman of its Board of Directors would resign from his roles by the end of the month, and that Hertz had subsequently appointed a new CEO.

Then, on April 25, 2024, Hertz issued a press release announcing its first quarter 2024 results. Among other items, Hertz reported EPS of -$1.28 for the quarter, well short of the consensus estimate of -$0.43, and far worse than the adjusted diluted EPS of $0.39 that Hertz had achieved in the same period the year prior. In discussing these results, Hertz revealed that vehicle depreciation in the quarter increased $588 million, or $339 on a per-unit basis, primarily driven by deterioration in estimated forward residual values and disposition losses on internal combustion engine vehicles compared to gains in the prior-year quarter. Moreover, Hertz reported a $195 million charge to vehicle depreciation to write down EVs held for sale that were remaining in inventory at quarter-end to fair value and to recognize the disposition losses on EVs sold in the period.

Following this news, Hertz's stock price fell $1.12 per share, or 19.31%, to close at $4.68 per share on April 25, 2024.

WHAT CAN I DO?Hertz investors may, no later than July 30, 2024, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Hertz investors who have suffered significant losses to contact the firm directly to acquire more information. The class action complaint against Hertz, Doller v. Hertz Global Holdings, Inc., et al., Case No. 24-cv-00513, is filed in the United States District Court for the Middle District of Florida.

CLICK HERE TO SIGN UP FOR THE CASE OR GO TO: https://www.ktmc.com/new-cases/hertz-global-holdings-inc?utm_source=PR&utm_medium=link&utm_campaign=htz&mktm=r

WHO CAN BE A LEAD PLAINTIFF?A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLPJonathan Naji, Esq. (484) 270-1453280 King of Prussia RoadRadnor, PA 19087info@ktmc.com

May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.

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Clover Health Investments Up Nearly 25%, on Pace for Largest Percent Increase Since June 2021 — Data Talk

Dow Jones Newswires

Clover Health

-1.05%

Clover Health Investments Corp. Class A (CLOV) is currently at $1.28, up $0.26 or 24.76%

Would be highest close since Sept. 12, 2023, when it closed at $1.33
On pace for largest percent increase since June 8, 2021, when it rose 85.82%
Snaps a two day losing streak
Up 16.82% month-to-date
Up 34.96% year-to-date
Down 94.2% from its all-time closing high of $22.15 on June 8, 2021
Up 44.95% from 52 weeks ago (June 23, 2023), when it closed at $0.89
Down 17.63% from its 52-week closing high of $1.56 on Aug. 14, 2023
Up 106.69% from its 52-week closing low of $0.62 on April 17, 2024
Traded as high as $1.39; highest intraday level since Sept. 11, 2023, when it hit $1.41
Up 34.95% at today's intraday high; largest intraday percent increase since June 8, 2021, when it rose as much as 109.14%

All data as of 1:49:49 PM ET

Source: Dow Jones Market Data, FactSet

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Why Are Nexalin Technology Shares Surging Friday?

Benzinga

Nexalin Technology

+1.24%

Nexalin Technology, Inc. Warrant

0.00%

Nexalin Technology, Inc. shares surged on Friday afternoon following the announcement of a new patent awarded by the United States Patent and Trademark Office (USPTO). The patent pertains to the company’s Deep Intracranial Frequency Stimulation (DIFS) device, a non-invasive technology designed for the treatment of Alzheimer’s and dementia.

What’s Happening: Nexalin Technology revealed that the USPTO has granted U.S. Patent No. 12,011,591, covering the company’s advanced DIFS medical device. This device utilizes a proprietary frequency-based waveform to provide deep brain stimulation in a pain-free and undetectable manner, targeting Alzheimer’s and dementia-related brain diseases.

Mark White, CEO of Nexalin Technology, highlighted the significance of this patent in expanding the company’s intellectual property and addressing the growing global dementia treatment market. He noted the substantial market potential, driven by the increasing prevalence of dementia and significant investments in research and development.

What Else: Nexalin’s technology has demonstrated clinical benefits for various neurological conditions, including treatment-resistant depression, migraines, anxiety, insomnia, addiction and PTSD. The new patent underscores the potential of DIFS technology to revolutionize the standard of care for mental health disorders such as Alzheimer’s and dementia.

NXL Price Action: Nexalin Technology shares were up by 97.3%, trading at $2.15 at the time of writing, according to Benzinga Pro.

Image Via Shutterstock.

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Sarepta's Expanded Approval Unlikely To Influence Novo Holdings' Acquisition of Catalent, But Provides Investor Protection Amid Uncertainty

Benzinga

Thermo Fisher Scientific

+0.03%

Shares of Catalent Inc , which manufactures Elevidys, are trading higher with a strong session volume of 3.6 million compared to an average volume of 1.6 million.

Also Read: Catalent’s Bloomington Plant Making Novo Nordisk’s Obesity Drug Faces FDA Scrutiny Regarding Drug Manufacturing Concerns.

William Blair notes that Sarepta Therapeutics Inc.’s Elevidys, supported by its expanded label, is expected to generate approximately $700 million annually in revenue for fiscal years 2025 and 2026, representing a substantial increase from the approximately $425 million generated in fiscal year 2023.

In October 2023, William Blair wrote that in fiscal year 2024, Catalent anticipates 30% Y/Y growth in non-COVID biologics revenue, reaching approximately $1.35 billion to $1.80 billion.

This growth is primarily fueled by a 60%-plus expansion attributed to Sarepta, translating into an estimated total revenue of nearly $700 million from the collaboration.

Despite this, questions remain about Catalent’s manufacturing capacity and the future role of Thermo Fisher Scientific Inc as a secondary manufacturer.

William Blair analyst writes “Regardless, while we do not believe Elevidys’s label expansion materially changes the likelihood that Novo Holdings’ proposed acquisition of Catalent will be completed, it does limit the downside for investors if the deal falls through.”

Related: Ozempic Maker Strikes $11B Deal With Catalent As It Rushes To Meet Massive Weight-Loss Drug Demand.

With a 12% spread and six months until the expected transaction close, the analyst sees an improved risk/reward profile for Catalent but maintains a Market Perform rating.

Price Action: CTLT shares are up 3.27% at $56.62 at last check Friday.

Illustration of Phrama lab worker created with MidJourney

Latest Ratings for CTLT

Date	Firm	Action	To
Feb 2022	Morgan Stanley	Maintains	Overweight
Jan 2022	Barclays	Maintains	Overweight
Dec 2021	Barclays	Initiates Coverage On	Overweight

View More Analyst Ratings for CTLT

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Sector Update: Health Care Stocks Edge Up in Afternoon Trading

MT Newswires

Sharecare

0.00%

Sharecare, Inc. Warrant

Health care stocks were slightly higher Friday afternoon, with the NYSE Health Care Index and the Health Care Select Sector SPDR Fund (XLV) each rising around 0.1%.

The iShares Biotechnology ETF (IBB) gained 1%.

In corporate news, Sharecare shares surged past 77% after it said it has entered into a definitive agreement to be acquired by an Altaris affiliate.

Sarepta Therapeutics received a label expansion from the US Food and Drug Administration for Elevidys to treat ambulatory Duchenne muscular dystrophy, marking a "best-case scenario" and exceeding expectations, BofA Securities said in a report. Sarepta shares soared 32%.

Johnson & Johnson added 0.5% after it said it has completed its acquisition of biotech company Proteologix for $850 million in cash with the potential for an additional milestone payment.

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Stocks Stall As Chip Sector Struggles To Rebound; Dollar Eyes 7-Week Peak, Gold, Bitcoin Retreat: What's Driving Markets Friday?

Benzinga

Hertz Global Holdings Warrants

0.00%

FactSet Research Systems

-1.28%

CarMax

+0.14%

Wall Street is experiencing a subdued and low volatility trading day Friday, despite the session coinciding with the “triple witching” day, with over $5.1 trillion of notional options exposure expiring, surpassing the previous record set in December 2023.

Chipmakers continue to struggle in the aftermath of Thursday’s sell-off, suggesting that while the wave of profit-taking is easing, there is little sign of new buyers stepping in at these levels.

Nvidia Corp. is down 1.6%, poised to break an eight-week winning streak. The sector benchmark, the iShares Semiconductor ETF , is witnessing its worst two-day performance since May 1.

The major indices and sectors remained flat, while biotech stocks showed the strongest performance among industries, with the iShares Biotechnology ETF up 1.9%. Treasury yields were stable, with the 10-year at 4.26%.

On the macro front, S&P Global reported the strongest growth in U.S. private sector activity in two years, surpassing analyst expectations.

Gold saw a decline of 1.4%, reversing Thursday’s positive performance. Bitcoin fell 1.8%, heading for its fifth consecutive session of losses, marking the longest losing streak since October 2023.

Oil prices retreated below $81 per barrel, ending a streak of three consecutive sessions of gains.

Friday’s Performance In Major US Indices

Major Indices	Price	1-day %chg
Russell 2000	2,019.94	0.0%
Dow Jones	39,140.67	0.0%
S&P 500	5,464.09	-0.2%
Nasdaq 100	19,694.57	-0.3%

According to Benzinga Pro data:

The SPDR S&P 500 ETF Trust was 0.4% lower to $544.76.
The SPDR Dow Jones Industrial Average was 0.2% lower to $391.50.
The tech-heavy Invesco QQQ Trust was 0.1% lower to $480.81.
Sector-wise, the Communication Services Select Sector SPDR Fund outperformed, up by 0.4%, while the Financials Select Sector SPDR Fund lagged, falling 0.5%.

Friday’s Stock Movers

Serepta Therapeutics Inc. rocketed by over 30% after the company announced expanded U.S. FDA approval of ELEVIDYS for Duchenne Muscular Dystrophy patients ages 4 and above.
Hertz Global Holdings Inc. rose over 14%, mimicking Thursday’s move, after the car rental company upsized its bond offering to $1 billion to finance a fleet refresh.
FactSet Research Systems Inc. rose 4% following stronger-than-expected quarterly earnings. CarMax Inc. was 1% higher in reactions to quarterly results.

Read now: World’s Biggest S&P 500 ETF Bleeds Outflows: Why Isn’t The Market Crashing? (CORRECTED)

Photo created using artificial intelligence via MidJourney.

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Why Kaival Brands Innovations Shares Are Trading Lower By 47%? Here Are Other Stocks Moving In Friday's Mid-Day Session

Important July 30, 2024 Deadline Reminder: Kessler Topaz Meltzer & Check, Llp Reminds Hertz Global Holdings, Inc. (Htz) Investors Of Securities Fraud Class Action Lawsuit

Clover Health Investments Up Nearly 25%, on Pace for Largest Percent Increase Since June 2021 — Data Talk

Why Are Nexalin Technology Shares Surging Friday?

Sarepta's Expanded Approval Unlikely To Influence Novo Holdings' Acquisition of Catalent, But Provides Investor Protection Amid Uncertainty

Sector Update: Health Care Stocks Edge Up in Afternoon Trading

Stocks Stall As Chip Sector Struggles To Rebound; Dollar Eyes 7-Week Peak, Gold, Bitcoin Retreat: What's Driving Markets Friday?

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