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Bull&Bear| uniQure and Solaris Oilfield Surge While CVRx and LegalZoom Plummet

AInvestThursday, Jul 11, 2024 2:21 am ET
1min read

Bullish Stocks:

uniQure (QURE) surged 51.72%, marking its second consecutive day of gains with a total increase of 167.72% over the past two days. The stock is currently experiencing a rally, likely driven by the company's recent announcement of updated interim data. This includes 24-month follow-up results for the long-term treatment of 29 patients, conducted in both the U.S. and Europe.

Solaris Oilfield Infrastructure (SOI) increased by 37.36%. Reports indicate that on July 9, 2024, Solaris Oilfield Infrastructure signed a contribution agreement with J-Turbine and KTR. The deal involves J-Turbine and KTR transferring all equity of Mobile Energy Leasing to Solaris for $60 million in cash and $140 million in Solaris equity. The transaction is expected to close by the end of Q3 2024.

Lantheus Holdings (LNTH) surged 36.65%. Truist Securities raised the price target of Lantheus Holdings from $96 to $141, which has likely fueled the stock's upward momentum.

SMART Global (SGH) climbed 26.27%. Smart Global Holdings stock hit a 52-week high after reporting earnings that exceeded expectations.

Amylyx (AMLX) rose 25.45%, also marking its second day of gains with an overall increase of 25.45% over the past two days. The rise is attributed to the company's announcement regarding its acquisition of Avexitide from Eiger Biopharmaceuticals.


Bearish Stocks:

Crown LNG (CGBS) showed no notable changes. Although Crown LNG completed an acquisition deal, the stock saw a 12% rise in after-hours trading following the transaction.

CVRx (CVRX) plummeted 38.52%, following a three-day losing streak totaling a 42.20% decline. The drop is linked to reports from traders citing Canaccord's statement that CVRx is facing substantial cuts in the CMS proposal. The compensation for the Barostim program could potentially fall from $45,000 to $31,222, with the final decision pending.

Stardust Power (SDST) fell 28.22%, experiencing a consecutive two-day loss with an unspecified total decline. The decrease is a result of disappointing Q3 earnings. Other major stocks like LegalZoom.com also showed decreases in pre-market trading on Wednesday.

AFC Gamma (AFCG) dropped 26.08%, marking its third consecutive day of losses with a total decline of 29.36% over the past three days. AFC Gamma confirmed the date for completing the divestiture of its commercial real estate investment portfolio.

LegalZoom.com (LZ) decreased by 25.35%, extending its three-day losing streak with a total decline of 28.54%. Barclays downgraded LegalZoom.com from an 'overweight' to an 'equal weight' rating. LegalZoom projects its Q2 2024 operating revenue to range between $172 million and $176 million, with adjusted EBITDA between $25 million and $27 million, and has lowered its full-year operating revenue forecast to between $675 million and $685 million.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.