Bull&Bear | Iteris Leads Bullish Surge with 63.55% Gain; Pacira BioSciences Tumbles 47.67%

Bullish Stocks:

Iteris (ITI) soared by 63.55%, marking a two-day rally with a cumulative gain of 72.41%. Iteris reported a record-breaking quarterly revenue of $45.8 million.

Regenative Labs (RGC) surged by 53.98%. Regenative Labs announced that its new brain cell regeneration therapy achieved significant breakthroughs in clinical trials, showing a remarkable improvement in cognitive function and memory for participants. This advancement has been highly praised by the medical community and is expected to significantly increase the company's market share in the neuroregeneration sector.

Doximity (DOCS) climbed by 38.74%, continuing a 2-day rally with a 39.61% increase over the period. Doximity's first-quarter adjusted earnings per share stood at $0.28, exceeding the expected $0.22, with a sales revenue of $126.68 million, surpassing the anticipated $119.92 million.

Expensify (EXFY) rose by 36.36%, also continuing a 2-day rally with a 39.07% increase. Shares of Expensify soared after an upgrade by JMP Securities in the wake of impressive Q2 earnings. The company's better-than-expected adjusted earnings per share for Q2 led JMP Securities to upgrade the stock from "market perform" to "market outperform".

Sweetgreen reported increased sales and reduced losses. Key factors attributed to Sweetgreen's recent growth include the introduction of steak options, dinner menus, and an increased male customer base.

Bearish Stocks:

Pacira BioSciences (PCRX) plummeted by 47.67%. Pacira BioSciences’ stock resumed trading at a new low of $13.50, down by 39.6%, after the company announced that a New Jersey court invalidated patent number 11,033,495.

Telos (TLS) dropped by 46.95%, experiencing a three-day decline with a total loss of 48.19% over the period. Telos projected an adjusted EBITDA loss of $8 million to $6.5 million for the third quarter.

Webtoon (WBTN) fell by 38.20%. Shares of Webtoon Entertainment declined as the company’s Q2 revenue fell short of expectations.

American Vanguard (AVD) decreased by 37.48%. American Vanguard released its Q2 financial report, which did not meet expectations, resulting in a share price drop. The company missed both revenue and net income forecasts and lowered its FY24 outlook.

Macquarie downgraded PubMatic’s target price from $24 to $19.