HomeMarket NewsSmall CapsThe Surge of RxSight and Other Stocks Shaking Up the Market

The Surge of RxSight and Other Stocks Shaking Up the Market

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RxSight, Inc.RXST soared during Monday’s session after the company released preliminary FY23 and FY24 revenue guidance that topped estimates.

Additionally, Needham upped its price target on the stock from $35 to $41 while affirming a Buy rating.

RxSight shares catapulted 20% to $44.31 on Monday.

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

The Winners Circle

  • Harpoon Therapeutics, Inc. HARP surged 111.2% to $22.28 after Merck’s announcement of an acquisition at $23 per share in cash.
  • Ambrx Biopharma Inc. AMAM leaped 98.1% to $27.00 following Johnson & Johnson’s all-cash merger for an equity value of roughly $2 billion.
  • Spectaire Holdings Inc.SPEC jumped 75.2% to $2.96.
  • Nkarta, Inc.NKTX ascended 51% to $9.17 on the heels of a corporate presentation revamp.
  • Universe Pharmaceuticals INCUPC gained 42% to $2.22.
  • Elevation Oncology, Inc.ELEV surged 39.2% to $1.2193.
  • NexImmune, Inc.NEXI rose 34.7% to $8.32.
  • Praxis Precision Medicines, Inc.PRAX climbed 34% to $33.76 unveiling an update on its clinical stage portfolio.
  • QuantaSing Group LimitedQSG gained 31% to $2.0563.
  • Butterfly Network, Inc.BFLY rose 29.7% to $1.31 with its announcement of FDA clearance for the handheld ultrasound system, Butterfly iQ3.
  • Venus Concept Inc.VERO climbed 28% to $1.51.
  • Ardelyx, Inc.ARDX gained 25.5% to $7.73 after providing an update on its 2023 progress and initial 2024 expectations.
  • BioCryst Pharmaceuticals, Inc.BCRX rose 20.8% to $7.36 following its preliminary Q4 revenue guidance surpassing estimates and approaching positive EPS and cash flow in 2H 2025.
  • Axonics, Inc.AXNX jumped 19.9% to $69.03 on the announcement of an acquisition deal by Boston Scientific.
  • Crocs, Inc.CROX surged 18.8% to $102.69 after issuing robust Q4 and full year 2023 guidance.
  • LendingTree, Inc. TREE rose 17.3% to $33.50.
  • Wolverine World Wide, Inc. WWW jumped 16.7% to $9.02. Wolverine Worldwide confirmed preliminary 2023 financial results aligning with guidance.
  • Ampio Pharmaceuticals, Inc. AMPE gained 16.4% to $2.0799 after a near 8% fall on Friday.
  • Shattuck Labs, Inc. STTK surged 15.2% to $9.52.
  • Vincerx Pharma, Inc. VINC shares rose 14.3% to $1.36 after the company announced compelling clinical efficacy of enitociclib in combination with venetoclax and prednisone in lymphoma.
  • Cyclacel Pharmaceuticals, Inc. CYCC shares gained 14.1% to $2.84 after a 10% rise on Friday.
  • Silk Road Medical, Inc SILK rose 13.4% to $12.91.
  • OPKO Health, Inc. OPK jumped 12.5% to $1.00.
  • Avadel Pharmaceuticals plc AVDL gained 12% to $16.68 after issuing a business update.
  • Fastly, Inc. FSLY surged 10.5% to $17.88 after RBC Capital upgraded the stock from Underperform to Sector Perform and raised its price target from $12 to $18.
  • Upwork Inc. UPWK gained 10.3% to $15.51 after Jefferies upgraded the stock from Hold to Buy and raised its price target from $13 to $20.
  • Commercial Metals Company CMC rose 6.2% to $51.21 following strong quarterly results.

The Bottomed Out

  • LumiraDx Limited LMDX shares fell 45.5% to $0.0187. LumiraDx announced its securities will be suspended from trading on Nasdaq at the open of business on Jan. 9th.
  • Top KingWin Ltd TCJH dipped 38.8% to $1.18.
  • Solo Brands, Inc.


    Stock Prices Plummet After Revenue Guidance Falls Short

    Financial Market Turmoil as Stock Prices Plummet Across the Board

    Investors were sent reeling today as a slew of companies saw their stock prices plummet following a series of disappointing revenue guidance updates. The stock market was a veritable rollercoaster, with many investors left feeling dizzy and disheartened at the end of the trading day. It was a day of reckoning, as the once promising outlook for these companies took a sharp turn for the worse.

    DTC

    The financial woes began with DTC plunging 38.7% to $3.6150 after the company reduced its full-year 2023 revenue guidance below estimates. The market response was nothing short of brutal, signaling a red flag for the company’s financial health and future prospects.

    Dada Nexus Limited

    Similarly, Dada Nexus Limited DADA shares tumbled 38.1% to $1.95. The company disclosed that certain suspicious practices were identified during a routine internal audit, casting doubts on specific revenues from its online advertising and marketing services in 2023. This revelation sent shockwaves through the market, undermining investor confidence in the company’s operations.

    Prothena Corporation plc

    In a parallel downturn, Prothena Corporation plc PRTA experienced a 25.1% decline to $30.45 following updates on PRX012, PRX123, Birtamimab, and Portfolio programs. The company’s announcement appeared to rattle investor sentiment, leading to a rapid erosion of market value.

    One after another, companies saw their stock prices nosedive, creating a maelstrom of financial distress in the market. It was a tempest akin to the 2008 financial crisis, with investors feeling as though they had been caught in a whirlwind of bad news and dashed expectations.

    Revance Therapeutics, Inc.

    Revance Therapeutics, Inc. RVNC was not immune to the turmoil, recording a 20.1% slump to $6.68. The company’s issuance of preliminary Q4 and FY23 financial results and guidance sent a shiver through the investor community, triggering a wave of sell-offs.

    The Boeing Company and Spirit AeroSystems Holdings, Inc.

    Even aviation giants like The Boeing Company BA and Spirit AeroSystems Holdings, Inc. SPR were not spared from the upheaval. The market reacted vehemently to reports of an exit door blowing out of a 737 aircraft during a commercial flight, causing both companies to suffer significant stock price downturns. The ramifications of this alarming event reverberated throughout the aviation sector and beyond.

    The financial landscape resembled a battlefield, with wounded companies left grappling with the aftermath of a brutal assault. Investors were left to pick up the pieces of their shattered portfolios, facing a daunting road to recovery after witnessing the devastation of their investments.

    Across the board, it was a day of reckoning for stakeholders, as the market descended into chaos, much like the Black Monday of 1987. The echoes of this swift and painful market correction will undoubtedly reverberate for days, if not weeks, to come.


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