Why Butterfly Network Shares Are Trading Lower By 22%? Here Are Other Stocks Moving In Thursday's Mid-Day Session

Author: Avi Kapoor | February 29, 2024 03:00pm

Shares of Butterfly Network, Inc. (NASDAQ:BFLY) fell sharply during Thursday’s session after the company reported mixed fourth-quarter financial results.

Butterfly Network posted GAAP loss of 21 cents per share versus market estimates for a loss of 14 cents per share. The company’s quarterly sales came in at sales came in $16.52 million versus estimates of $15.35 million.

Butterfly Network shares dipped 21.7% to $1.1588 on Thursday.

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

Gainers

• Enveric Biosciences, Inc. (NASDAQ:ENVB) gained 177.1% to $2.30 after the company announced it has signed three non-binding term sheets with an undisclosed biotechnology company to pursue the out-licensing of compounds.
• Societal CDMO, Inc. (NASDAQ:SCTL) shares climbed 132.7% to $1.07 as the company agreed to be acquired by CoreRx, Inc.
• Volcon, Inc. (NASDAQ:VLCN) gained 55.4% to $1.8802 after surging around 39% on Wednesday.
• Sidus Space, Inc. (NASDAQ:SIDU) climbed 39.7% to $7.78.
• Ocean Biomedical, Inc. (NASDAQ:OCEA) gained 36.4% to $2.1008. Ocean Biomedical announced joint venture partner, Virion Therapeutics to present clinical study data at 2024 APASL Global Liver Meeting.
• Inseego Corp. (NASDAQ:INSG) rose 34.5% to $3.00.
• Vertex, Inc. (NASDAQ:VERX) jumped 29.8% to $32.97 after the company reported better-than-expected fourth-quarter results and issued strong FY24 guidance.
• iHeartMedia, Inc. (NASDAQ:IHRT) rose 29.1% to $2.93 following fourth-quarter results.
• Agrify Corporation (NASDAQ:AGFY) gained 27% to $0.6161. Agrify announced a $3.4 million sales order from New Jersey woman-owned business HarvestWorks Farm.
• Renalytix Plc (NASDAQ:RNLX) climbed 26.5% to $1.05 after the company announced that effective Mar. 1, the US approved adding the company's kidneyintelX.dkd to its 10-year Governmentwide Acquisition Contract.
• Tutor Perini Corporation (NYSE:TPC) gained 26% to $11.64 following fourth-quarter results.
• Bright Scholar Education Holdings Limited (NYSE:BEDU) gained 25.3% to $2.3178.
• C3.ai, Inc. (NYSE:AI) shares rose 24.6% to $37.00 after the company reported better-than-expected third-quarter financial results.
• Sterling Check Corp. (NASDAQ:STER) jumped 24.6% to $15.49 after the company agreed to be acquired by First Advantage for approximately $2.2 billion, including outstanding debt.
• Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) gained 24% to $2.00. Adial Pharmaceuticals was awarded a new patent covering AD04 for the potential treatment of opioid use disorder.
• Revance Therapeutics, Inc. (NASDAQ:RVNC) jumped 24% to $7.02 after the company reported better-than-expected quarterly financial results.
• Latham Group, Inc. (NASDAQ:SWIM) climbed 22.8% to $3.36.
• Avidity Biosciences, Inc. (NASDAQ:RNA) jumped 22.5% to $18.70. Avidity Biosciences announced an oversubscribed $400 million private placement.
• Pure Storage, Inc. (NYSE:PSTG) rose 21.9% to $51.35 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter revenue guidance above estimates. Also, UBS maintained a Neutral rating on the stock and raised its price target from $38 to $44.
• Duolingo, Inc. (NASDAQ:DUOL) gained 21.6% to $237.82 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.
• Okta, Inc. (NASDAQ:OKTA) shares rose 19.8% to $104.55 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.
• Mersana Therapeutics, Inc. (NASDAQ:MRSN) gained 19.5% to $5.80 after the company reported fourth-quarter financial results.
• Establishment Labs Holdings Inc. (NASDAQ:ESTA) rose 17.8% to $45.31 after the company reported better-than-expected fourth-quarter financial results.
• Montrose Environmental Group, Inc. (NYSE:MEG) gained 16.7% to $38.52 following quarterly results.
• ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) climbed 16.1% to $13.65.
• SunOpta Inc. (NASDAQ:STKL) rose 15% to $6.91 following strong quarterly results.
• TaskUs, Inc. (NASDAQ:TASK) gained 14.4% to $14.17 following upbeat quarterly results.
• Magnite, Inc. (NASDAQ:MGNI) rose 13.8% to $11.93 following strong quarterly results.
• Indaptus Therapeutics, Inc. (NASDAQ:INDP) rose 13.8% to $2.23.
• Hayward Holdings, Inc. (NASDAQ:HAYW) gained 13.7% to $14.88 following upbeat results.
• Hormel Foods Corporation (NYSE:HRL) rose 12.8% to $34.81 after the company reported better-than-expected first-quarter earnings and reaffirmed FY24 outlook.
• Nxu, Inc. (NASDAQ:NXU) shares rose 9.2% to $0.7750. Nxu said it fully regained compliance with Nasdaq's continued listing requirements.
• NFT Limited (NYSE:MI) shares jumped 7.9% to $0.2374.
• Sprinklr, Inc. (NYSE:CXM) gained 7.9% to $13.56. Sprinklr will replace Veradigm in S&P SmallCap 600 effective prior to opening of trading on March 4, 2024.
• Papa John's International, Inc. (NASDAQ:PZZA) climbed 6.8% to $74.89 following strong quarterly earnings.

Losers

• J-Long Group Limited (NYSE:JL) fell 46.3% to $6.86. J-Long Group declared a special cash dividend in aggregate amount of $6 million.
• Golden Minerals Company (NYSE:AUMN) dipped 40.4% to $0.3163. Golden Minerals announced that it has elected to stop operations at its Velardeña Properties, located in Durango State, Mexico.
• LivePerson, Inc. (NASDAQ:LPSN) shares declined 40% to $1.43 following fourth-quarter financial results.
• NWTN Inc. (NASDAQ:NWTN) fell 40% to $2.99.
• Endava plc (NYSE:DAVA) fell 40% to $38.31 following second-quarter earnings.
• Kineta, Inc. (NASDAQ:KA) fell 39.7% to $1.3801 as the company announced intention to explore strategic alternatives.
• Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) fell 39% to $9.23 after the company's Phase 3 trial of once-weekly subcutaneous apraglutide did not meet two out of four key secondary endpoints.
• Xometry, Inc. (NASDAQ:XMTR) fell 37.4% to $18.84 after the company reported fiscal fourth-quarter results and issued first-quarter guidance below estimates and disclosed a CFO transition.
• Grifols, S.A. (NYSE:GRFS) fell 36.7% to $5.91.
• The Chemours Company (NYSE:CC) shares declined 33.7% to $19.05. Chemours Company named Denise Dignam as the interim CEO and Matt Abbott as the interim CFO. The company also issued preliminary 2023 results.
• Bakkt Holdings, Inc. (NASDAQ:BKKT) fell 33.4% to $0.6792 after the company announced two securities purchase agreements.
• CommScope Holding Company, Inc. (NASDAQ:COMM) dipped 30% to $1.2950 after the company reported financial fourth-quarter results below estimates.
• Critical Metals Corp. (NASDAQ:CRML) fell 25.2% to $11.43.
• Gyre Therapeutics, Inc. (NASDAQ:GYRE) dropped 22% to $19.34.
• Lotus Technology Inc. (NASDAQ:LOT) fell 21.8% to $7.71.
• BYND Cannasoft Enterprises Inc. (NASDAQ:BCAN) shares fell 20.2% to $0.1621. BYND Cannasoft is entering into production agreements for its EZ-G Device.
• Snowflake Inc. (NYSE:SNOW) shares tumbled 20.1% to $183.81. Snowflake reported upbeat earnings for its fourth quarter. The company said CEO Frank Slootman has decided to retire from his role as CEO but will continue to serve as chairman of the board. Sridhar Ramaswamy has been appointed as CEO and a member of the board, effective immediately.
• Schrödinger, Inc. (NASDAQ:SDGR) shares declined 19.9% to $25.12 after the company reported mixed fourth-quarter financial results.
• Castle Biosciences, Inc. (NASDAQ:CSTL) fell 18.7% to $19.83 following fourth-quarter financial results.
• bluebird bio, Inc. (NASDAQ:BLUE) fell 18.2% to $1.3750.
• Inari Medical, Inc. (NASDAQ:NARI) shares fell 18.1% to $47.50 after posting a loss for the fourth quarter.
• WW International, Inc. (NASDAQ:WW) fell 17.9% to $3.1350 after the company reported fourth-quarter financial results and announced that director Oprah Winfrey has decided not to stand for re-election at the company's upcoming annual meeting of shareholders.
• uniQure N.V. (NASDAQ:QURE) fell 16.7% to $5.57. Goldman Sachs analyst Salveen Richter downgraded uniQure from Buy to Neutral and lowered the price target from $63 to $8.
• Amarin Corporation plc (NASDAQ:AMRN) fell 16.7% to $1.09 following quarterly results.
• DoubleVerify Holdings, Inc. (NYSE:DV) declined 16.6% to $32.71 after the company reported fourth quarter financial results.
• Shoals Technologies Group, Inc. (NASDAQ:SHLS) shares dipped 16.3% to $12.89 after the company reported worse-than-expected fourth-quarter financial results and issued FY24 revenue guidance below estimates.
• Milestone Pharmaceuticals Inc. (NASDAQ:MIST) shares fell 16% to $1.7897 after announcing a proposed public offering of common shares and pre-funded warrants.
• COMPASS Pathways plc (NASDAQ:CMPS) fell 16% to $10.40 following a wider-than-expected quarterly loss.
• FIGS, Inc. (NYSE:FIGS) shares fell 15.4% to $5.10 after the company reported mixed quarterly financial results.
• The Lion Electric Company (NYSE:LEV) dipped 12.6% to $1.46 following fourth quarter financial results.
• Cytek Biosciences, Inc. (NASDAQ:CTKB) fell 12.2% to $7.67 following fourth quarter financial results.
• AMC Entertainment Holdings, Inc. (NYSE:AMC) shares fell 11.1% to $4.4350 following quarterly results.
• Titan International, Inc. (NYSE:TWI) fell 10% to $12.73 following weak sales.
• IonQ, Inc. (NYSE:IONQ) shares declined 7.2% to $10.45 after the company reported mixed fourth quarter financial results.
• Array Technologies, Inc. (NASDAQ:ARRY) fell 5.8% to $13.27.
• Bath & Body Works, Inc. (NASDAQ:BBWI) fell 5.2% to $45.80 after the company reported fourth-quarter earnings and issued worse-than-expected FY24 outlook. It also authorized $500 million stock buyback.
• NetEase, Inc. (NASDAQ:NTES) shares fell 3.7% to $108.03 after the company reported financial fourth-quarter results below estimates.

 

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