STOCKS TELEGRAPH

Author: Maria Masood

  • ProQR Therapeutics N.V. (PRQR) Stock Sinking in Premarket, Here’s why.

    ProQR Therapeutics N.V. (PRQR) Stock Sinking in Premarket, Here’s why.

    ProQR Therapeutics N.V. (PRQR) creates transformative RNA therapeutics for treating Leber congenital amaurosis 10, retinitis pigmentosa, and Usher syndrome. The company’s pipeline is growing based on its novel proprietary RNA repair platform technologies.

    The price of PRQR stock during the regular trading on February 10, 2022, was $5.64 with a 3.59% decline. At last check in the premarket on February 11, 2022, the stock further dipped by -70.21%.

    PRQR: Events and Happenings

    On February 11, 2022, PRQR updated about its Phase 2/3 Illuminate clinical trial of sepofarsen for treating LCA10. The company did not meet the primary endpoint of BCVA in the 12th Month.

    PRQR: CEO Comments

    Speaking at the occasion, PRQR’s CEO Daniel A. de Boer stated that the outcomes are disappointing and surprising. He further added that the company will continue to advance its vigorous therapeutics pipeline for genetic eye disease.

    On February 07, 2022, PRQR updated about the company’s Executive management’s presentation at the SVB Leerink 11th Annual Virtual Global Healthcare Conference being held on February 17, 2022. On December 30, 2021, PRQR reported about the amendment in its convertible debt financing contract with Kreos Capital and Pontifax Medison Debt Financing.

    On December 16, 2021, PRQR announced the dosage of preliminary patients in Phase 2/3 Sirius and Celeste studies. On November 11, 2021, PRQR updated about its virtual Analyst Event webcast held on November 18, 2021. On November 08, 2021, PRQR reported about its management’s participation at the following investor conferences

    • Stifel 2021 Virtual Healthcare Conference on November 15, and
    • Evercore ISI 4th Annual HealthCONx Conference on December 2, 2021.

    PRQR: Key Financials

    On November 4, 2021, PRQR released its financial results for the third quarter ended September 30, 2021. Some of the main points are mentioned here.

    EPS

    Basic and diluted net loss per share in the Q3 2021 was €15.1 million or €0.22 against €13.2 million or €0.26 in the same quarter of 2020. The net loss decreased over the period of the year. The company’s EPS was in-line with the analysts’ estimates.

    Revenue

    Revenue for three months ended in 2021 was €0.87 million compared to no revenue in the same period of 2020. The company beat the analysts’ estimates by $1.06 million.

    Conclusion

    PRQR stock is 12% up the past year. The recent premarket dip in the stock is the result of disappointing clinical results for Illuminate trials of sepofarsen. The company is much disappointed as it did not meet the primary endpoint. As the earnings release date is approaching, the analysts are expecting the company’s revenue and EPS to be $4.17 million and -$0.12 per share respectively.

  • Spectrum Pharmaceuticals, Inc. (SPPI) Stock Rebounds Premarket, Here’s What’s Happening.

    Spectrum Pharmaceuticals, Inc. (SPPI) Stock Rebounds Premarket, Here’s What’s Happening.

    Spectrum Pharmaceuticals, Inc. (SPPI) is a biotherapeutics company engaged in the acquisition, development, and commercialization of innovative and targeted cancer therapeutics. The pipeline product candidates of the company include Poziotinib for treating NSCLC and Anti-CD20-IFNa for treating non-Hodgkin’s lymphoma.

    The price of SPPI stock during the regular trading on February 10, 2022, was $0.67 with a 1.32% decline. At last check in the premarket on February 11, 2022, the stock was up by 4.33%.

    SPPI: Events and Happenings

    On February 11, 2022, SPPI updated about the acceptance of poziotinib’s New Drug Application for review by the FDA. The company has reported optimistic Phase 2 clinical trial results in NSCLC patients. No treatment is currently approved by the FDA for the indication. Poziotinib had already received Fast Track designation from FDA.

    On January 20, 2022, SPPI informed about its management’s participation at the Virtual B. Riley Securities 2022 Oncology Conference on January 27, 2022. On January 5, 2022, SPPI was informed about its strategic restructuring. The company prioritized poziotinib and ROLONTIS and deprioritized its early-stage clinical programs.

    On January 4, 2022, SPPI announced a $20 million equity investment by Hanmi Pharmaceutical. The per-share price of the equity acquisition agreement was $1.60. On November 30, 2021, SPPI reported about its Executive management presence at the Virtual JMP Securities Hematology and Oncology Summit on December 7, 2021. On November 11, 2021, SPPI updated about its Virtual 2021 Jefferies London Healthcare Conference on November 18, 2021.

    SPPI: Key Financials

    On November 10, 2021, SPPI released its financial results for three months ended September 30, 2021. Some of the main aspects are discussed here.

    EPS

    Basic and diluted net loss per share in the quarter in 2021 was $33 million or $0.21 compared to $48.4 million or $0.37 in the same period of 2020. The EPS increased over the period of the year. The company’s EPS beat the analysts’ estimates by $0.09.

    Conclusion

    SPPI slipped 71% from the past six months period due to the declining impact of pandemics on the economy. The recent premarket boom in its stock price is the result of its lead product’s NDA acceptance by the FDA. As the earnings release date is near, the analysts are estimating the company’s EPS to be -$0.18.

  • Blue Apron Holdings, Inc. (APRN) Stock Nose-dived in Premarket. What’s Going on.

    Blue Apron Holdings, Inc. (APRN) Stock Nose-dived in Premarket. What’s Going on.

    Blue Apron Holdings, Inc. (APRN) motto is Better Living Through Better Food. The company offers fresh and chef-designed recipes to the home cooks to challenge their abilities to realize the difference, cooking quality food can along with its carbon footprint lessening and reducing wastage of food.

    The price of APRN stock during the regular trading on February 10, 2022, was $6.29 with a 25.4% decline. At last check in the premarket on February 11, 2022, the stock further dipped by 1.59%.

    APRN: Key Financials

    On February 10, 2022, APRN released its financial results for the fourth fiscal quarter ended December 31, 2021. Some of the important highlights are discussed below.

    Revenue

    Net revenue in the fourth quarter of 2021 was $107 million compared to $115.4 million in the same quarter of 2020. Net revenue decreased over the yearly period by 27%. The company missed the estimated revenue target by $2.99 million.

    EPS

    Diluted net loss per share in Q4 2021 was $26.4 million or $0.93 compared to $11.9 million or $0.67 in the same quarter of 2020. The EPS decreased over the period of the year. The company’s EPS was in-line with the analysts’ estimates.

    APRN: Events and Happenings

    On January 25, 2022, APRN informed about its collaboration with Panasonic Consumer Electronics Company. Both the companies agreed upon bringing consumers convenient cooking options merging APRN’s recipes with Panasonic’s 4-in-1 Multi-Oven. On December 15, 2021, APRN planned its collaboration with Aspiration for a co-branded Zero Card. This credit card offers rewards to the holders to help fight the climate crisis. The cardholders will be rewarded on qualifying purchases made at the company’s website and mobile app.

    On December 2, 2021, APRN updated about its recipe’s availability at Amazon Alexa. By utilizing hands-free instructions of Alexa-enabled devices, the consumers can cook their Two-Serving and Four-Serving recipes. On November 4, 2021, APRN informed about the completion of its already announced $78.0 million equity capital raise.

    Conclusion

    APRN stock is outperforming from the last six months period as made a mark in each sector. The current stock dip of the company is due to its financial results. The company missed the analysts’ estimated revenue and EPS. The company is expecting $125.1 million in revenue in the next quarter.

  • Universal Insurance Holdings, Inc. (UVE) Stock Plunge Deep in Afterhours. Here’s the Reason.

    Universal Insurance Holdings, Inc. (UVE) Stock Plunge Deep in Afterhours. Here’s the Reason.

    Universal Insurance Holdings, Inc. (UVE) offers property, casualty, and value-added insurance services. The company is actively engaged in the development, marketing, and writing of insurance products for customers in the personal residential homeowner’s lines of business. Also, it performs all other insurance-related services for its prime insurance entities.

    The price of UVE stock during the regular trading on February 10, 2022, was $17.09 with a 0.64% drop. At last check in the aftermarket, the stock further plummeted by 19.4%.

    UVE: Events and Happenings

    On February 10, 2022, UVE was informed about the declaration of a quarterly cash dividend of 16 cents per share of its common stock by the company’s BoDs. The dividend is payable by March 17, 2022. Additionally, the company expects the 2021 accident year strengthening of reserves in Q4 of $30.7 million and $21.5 million in weather above plan.

    On November 29, 2021, UVE updated about joining the US EPA’s Green Power Collaboration. The company is utilizing 652,000 kWh of green power yearly, which is enough to meet 25% of the organization’s electricity use. On November 23, 2021, UVE informed about the completion of a private placement of $100 million cumulative amount of 5.625% senior unsecured notes due 2026 to certain investors.

    UVE: Key Financials

    On October 27, 2021, UVE released its financial results for the third quarter of 2021 ended September 30, 2021. Some of the key highlights are discussed below.

    Revenue

    Total revenue in the third quarter of 2021 was $287.2 million compared to $11.6 million in the same period of 2020. Total revenue decreased over the yearly period by $24.4 million.

    EPS

    Diluted net income per share in Q3 2021 was $20.1 million or $0.64 compared to a net loss of $3.16 million or $0.10 in the same period of 2020. The net earnings of the company increased over the yearly period.

    Conclusion

    UVE stock is 17% up the past year period as it outperformed in various sectors. The current aftermarket dip in the stock is likely the outcome of the company’s recent Form 8-K filing with SEC and 16 cents per share cash dividend declaration. As the earnings release date is approaching, the company is expecting a revenue of $286.6 million and EPS of $0.30.

  • Aurora Cannabis Inc. (ACB) Stock Plunging in Aftermarket, Here’s the Reason.

    Aurora Cannabis Inc. (ACB) is a leading global cannabis provider to the industry, as it serves the medical and consumer markets. Its adult-use portfolio includes Aurora Drift, Daily Special, San Rafael ’71 along with certain CBD brands. The company’s medical portfolio includes CanniMed, MedReleaf, and Whistler Medical Marijuana Co.

    The price of ACB stock during the regular trading on February 10, 2022, was $4.59 with a 1.08% drop. At last check in the aftermarket, the stock was further down by 4.58%.

    ACB: Key Financials

    On February 10, 2022, ACB released its financial results for the second fiscal quarter of 2022 ended December 2021. Some of the major highlights are discussed below.

    Revenue

    Total net revenue in the second quarter of 2022 was C$60.5 million versus C$67.6 million in the same period of 2021. Total revenue decreased in the yearly period by C$7.08 million or 10%.

    EPS

    Basic and diluted net loss per share in Q2 2022 was C$75.1 million or $0.38 compared to C$297.9 million or $1.77 in the same period of 2021.

    ACB: Events and Happenings

    On February 3, 2022, ACB’s subsidiary Relive reported about the launch of KG7. It is a high-quality CBD portfolio prepared according to the needs of adult consumers with an active lifestyle. On January 4, 2022, ACB updated about delivering the cannabis shipment worth C$10 million to Israel.

    On December 14, 2021, ACB along with 22nd Century Group, Inc. informed about a three-way non-exclusive contract to license biosynthesis intellectual property to Cronos Group Inc. The intention of the contract is to contribute in the research and development advancement of cannabinoid biosynthesis.

    On December 13, 2021, ACB was acknowledged by The Globe and Mail’s 2021 annual Report on Business review of Corporate Boards. The company received 77/100 eligible points, positioned notably higher than other cannabis companies.

    Conclusion

    ACB underplayed by 68% in the previous year as economic conditions were in an appalling state due to pandemics. The recent aftermarket stock decline is because the company didn’t meet its expectations in the second quarter of 2022. The revenue in the year-ago period was more than its current-quarter revenue.

  • Confluent, Inc. (CFLT) Stock Dipping in Aftermarket, Here’s What’s Going on?

    Confluent, Inc. (CFLT) is the data streaming portfolio is involved in the category of data infrastructure that sets data in motion. The company’s cloud-native offering is the preliminary stage for data in motion, which enables real-time data to stream across the organizations.

    The price of CFLT stock during the regular trading on February 10, 2022, was $73.1 with a dip of 2.35%. At last check in the aftermarket, the stock further dropped by 11.1%.

    CFLT: Key Financials

    On February 10, 2022, CFLT released its financial results for the fourth quarter of 2021, which ended December 31, 2021. Some of the major updates are as follows.

    Revenue

    Total revenue observed in the fourth quarter of 2021 was $119.9 million compared to $70.3 million in the fourth quarter of 2020. The company reported an increase of 71% in revenue over the year. The analysts’ guidance for the fourth quarter revenue was $119.8 million and the company beat the analysts’ estimates.

    EPS

    Basic and diluted net loss per share in Q4 2021 was $114.4 million or $0.43 against $31.7 million or $0.30 in the same quarter of 2020. The analysts’ guidance for the EPS of the company in Q4 2021 was -$0.21 and the company missed the estimated EPS.

    CFLT: CEO Comments

    Speaking at the occasion, CEO of CFLT Jay Kreps stated that the company’s fast-track growth throughout 2021, showed that it had emerged as the leader of this large and growing market. He further added that the company accomplished 200% gain in full-year 2021 its Cloud revenue at a big scale.

    CFLT: Events and Happenings

    On January 27, 2022, CFLT was leveraged by DISH Network Corporation for its Apache Kafka’s cloud-native data streaming. It will facilitate DISH for its new smart 5G network via real-time analytics applications. On January 27, 2022, CFLT updated about its strategic partnership with Amazon Web Services, Inc. Both the companies made a five-year agreement and agreed upon joint initiatives to support the businesses speed up their cloud adoption journey with real-time data.

    On January 19, 2022, CFLT informed about launching the Confluent Q1 ’22. It includes data streaming connectors and a new feature to maintain trusted data quality along with multiple environments. On December 13, 2021, CFLT and Alibaba Cloud co-announced the availability of their data streaming service on the Alibaba cloud.

    Conclusion

    CFLT stock outperformed in the past year as the company as it gained 62% during the period as a result of strong company policies. The current aftermarket dip in the company’s stock came after the company announced its Q4 2021 financials. Although the company beat the estimated revenue target, it missed the EPS estimates, which resulted in a declining trend of a stock.

  • Aeglea BioTherapeutics, Inc. (AGLE) Stock Dipping in Early Trading, Here’s the Reason.

    Aeglea BioTherapeutics, Inc. (AGLE) is a clinical-stage biopharmaceutical company engaged in developing human enzyme therapeutics to treat rare metabolic disease patients. One of the lead potential candidates of the company is Pegzilarginase has received RDD and Breakthrough Therapy designations from FDA. AGLE-177 is in Phase 1/2 clinical trials for treating Homocystinuria.

    The price of AGLE stock during the early trading on February 10, 2022, was last checked to be $3.5 with a decline of 6.48%.

    AGLE: Events and Happenings

    On February 9, 2022, AGLE proposed an underwritten public offering to sell its common stock shares and pre-funded warrants for the acquisition of its common stock shares. The company intends to utilize the gross proceeds from the offering to fund its ongoing research projects for the lead candidate pipeline.

    On January 25, 2022, AGLE updated about hosting a Key Opinion Leader and Patient Caregiver Webinar on February 3, 2022. On January 5, 2022, AGLE informed about the participation of its Executive management at the following investor conferences.

    • 40th Annual J.P. Morgan Health Care Conference on January 10-13, and
    • Virtual H.C. Wainwright Bioconnect Conference on January 10-13, 2022.

    On December 6, 2021, the company announced its Phase 3 clinical studies of PEACE, which met the primary endpoint. The company reported a statistically significant decrease from baseline in plasma arginine post-24 weeks of treatment.

    AGLE: Key Financials

    On November 4, 2021, AGLE released its financial results for the third quarter ended September 30, 2021. The main highlights are as follows.

    EPS

    Basic and diluted net loss per share in Q3 2021 totaled $20.3 or $0.31 million compared to $18.0 million or $0.29 in the same quarter of 2020. The company missed the estimated EPS by $0.02 per share.

    Revenue

    Revenue in Q3 2021 was recorded to be $1.39 million compared to nil revenue in the same period of 2020. The company missed the estimated revenue target by $1.29 million.

    Conclusion

    AGLE stock down-performed in the last six months period due to economic restrictions as a result of the pandemic. The company’s stock dipped by 43% in the period. The current early trading stock decline is the result of the company’s announcement of the proposed public offering. The analysts estimate the revenue for the upcoming quarter to be $1.76 million and EPS to be $-$0.31.

  • Here’s why CyberArk Software Ltd. (CYBR) Stock High in Premarket.

    CyberArk Software Ltd. (CYBR) is a leading international Identity Security company. Based on the privileged access management, the company is the provider of wide-ranging security offering for multiple identities across business apps, hybrid cloud workloads, and DevOps lifecycle.

    The price of CYBR stock during the regular trading on February 9, 2022, was $143.4 with a 3.19% surge. At last check in the premarket on February 10, 2022, the stock was further up by 8.03%.

    CYBR: Key Financials

    On February 10, 2022, CYBR released its financial results for the fourth quarter ended December 31, 2021. Some of the key updates are as follows.

    Revenue

    Total revenue in Q4 2021 was $144.5 million compared to $151.3 million in the same period in 2020. The analysts estimated the revenue of the quarter to be $144.4 million. The company beat the analysts’ expectations of the revenue.

    EPS

    Diluted net income per share in Q4 2021 was $12 million or $0.30 against a net loss of $16.8 million or $0.42 in the same quarter of 2020. The estimated EPS for the quarter was $0.16 and the company beat the analysts’ estimates.

    CYBR: Events and Happenings

    On November 22, 2021, CYBR informed about the participation of its management in the following investor conferences.

    • Virtual Nasdaq 45th Investor Conference on December 1,
    • Virtual UBS Global TMT Conference on December 6, and
    • Virtual Barclays Global Technology, Media and Telecommunications Conference on December 7, 2021.

    On November 3, 2021, CYBR updated that it was nominated as the sole Visionary in the Gartner Magic Quadrant for Access Management. The company is dedicated to supporting the enterprises to steer the challenges related to access management across multiple IT environments along with protection against cyber threats.

    On November 2, 2021, CYBR published a research paper regarding the continuation of operations of organizations with limited visibility into user activity linked with web apps, despite the insider threats and credential theft risk. On October 6, 2021, CYBR and Telefonica Tech co-reported the expansion of SaaS-based cybersecurity solutions for protection against identity-driven risk. Without sacrificing their business agility, the clients will take advantage of being able to secure access for all identities.

    Conclusion

    CYBR outpaced in the last six months period as its stock is 5% up than before. The company’s recent stock swell is the consequence of its good performance in Q4 2021. It beat the analysts’ estimated revenue and EPS in the quarter.

  • Datadog, Inc. (DDOG) Stock Gaining Momentum in premarket, Here’s What Happening.

    Datadog, Inc. (DDOG) is the monitoring and security portfolio for cloud-based apps. The company’s SaaS system automates the monitoring of infrastructure and management of logs to give real-time observability of its consumers’ complete technology stack. It is utilized to enable digital transformation and cloud migration, reduce time to problem-solving, and secure the apps.

    The price of DDOG stock during the regular trading on February 9, 2022, was $155.5 with a 2.48% gain. On February 10, 2022, in the premarket, its stock was last checked to gain 14.5%.

    DDOG Events and Happenings

    On February 10, 2022, DDOG announced the acquisition of CoScreen. The procurement will bring novel abilities to the DDOG’s portfolio that support the professionals to share their screens. The platform will resolve the issues related to co-working during pair programming, prototyping, and debugging in a co-workspace.

    DDOG: Key Financials

    On February 10, 2022, DDOG released its financial results for the fourth quarter ended December 31, 2021. Some of the key highlights are below.

    Revenue

    Revenue in the fourth quarter of 2021 was $326.1 million compared to $177.5 million in the same quarter in 2020. The company observed an increase in revenue of 84% over the yearly period. The company beat the analysts’ estimated revenue which was $291.4 million

    EPS

    Basic and diluted net income per share in Q4 2021 was $7.1 million or $0.02 compared to net loss of $16.1 million or $0.05 in the same period of 2020. The analysts estimated the EPS for the quarter to be $0.11 per share.

    On January 26, 2022, DDOG reported about the receipt of moderate impact level authorization by the Federal Risk and Authorization Management Program Agency via sponsorship from the Veterans Affairs Department. On January 5, 2022, DDOG was informed about its entry into an international strategic collaboration with Amazon Web Services, Inc. Both the companies agreed upon co-work to produce and supply tighter product alignment in the coming days.

    On December 9, 2021, DDOG updated about launching Sensitive Data Scanner which will help customers in detection, classification, and protection of sensitive data found in their app logs. On November 30, 2021, DDOG was informed about achieving the AWS Graviton Ready position in collaboration with AWS Service Ready Program.

    Conclusion

    DDOG is outperforming from the past year as its stock is 34% up from the past year. The company recorded a gain in its stock in Thursday’s premarket due to an 84% increase in its revenue and acquisition of CoScreen. The company’s performance was brilliant in the fourth quarter as announced by its management.

  • American Rebel Holdings, Inc. (AREB) Stock Soaring in Premarket, Here’s why.

    American Rebel Holdings, Inc. (AREB) Stock Soaring in Premarket, Here’s why.

    American Rebel Holdings, Inc. (AREB) is a leading developer and dealer of high-quality safes and individual security and self-defense items. The Company is also engaged in designing and producing high-end apparel and accessories.

    The price of AREB sock during the regular trading on February 9, 2022, was $2.15 with a 17.9% dip. At last check in the premarket on February 10, 2022, the stock jumped by 26.5%.

    AREB: Events and Happenings

    On February 09, 2022, AREB reported about the completion of its underwritten public offering of 2,530,121 shares of its common stock. The shares were offered to the public at a price of $4.15 per share. The cumulative net proceeds from the offering were up to $10.5 million. Each common stock consists of one share of common stock, and one warrant. The company intended to utilize the gross proceeds from the offering for general corporate purposes.

    AREB updated that its Executive management will participate in the following two events

    • 2022 NRA Annual Meetings and Exhibits being held on May 27-29, 2022.
    • 2022 USCCA Concealed Carry and Home Defense Expo being held on November 11-13, 2022.

    On February 8, 2022, AREB reported about its filing with SEC for Form 424B4 or the Prospectus. On February 4, 2022, the company reported that its Common Shares and Warrants had been permitted to be listed on the Nasdaq Capital Market with effect from February 7.

    AREB: Key Financials

    On November 15, 2021, AREB released its quarterly financial results for the period ended September 30, 2021. Some of the major updates are as follows.

    Revenue

    Revenue in the quarter was recorded to be $0.29 million compared to $0.27 million in the same period of 2020.

    EPS

    Basic and diluted net loss per share in the quarter was $1.42 million or $0.01 compared to $1.31 million or $0.02 in the same quarter of 2020.

    Conclusion

    AREB stock is phenomenally up by 3483% from the past six months period. The company’s stock gained in Thursday’s premarket session as it reported the closing of its previously announced public offering.