Investors are on the hunt for undervalued, underfollowed and emerging stocks, and retail traders have countless methods at their disposal to uncover new information.
For some, this may be overwhelming.
Benzinga’s Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks each week that are just under the surface and warrant attention.
The index layers editorial commentary to help make sense of why these stocks should be of interest and whether investors and casual readers should watch them.
Here is a look at the Benzinga Stock Whisper Index for the week of Aug. 11, 2023.
Decibel Therapeutics Inc DBTX: The clinical-stage biotechnology company saw shares trade higher after Regeneron Pharmaceuticals Inc REGN announced a deal to acquire the company. Regeneron will acquire the company for $4 per share in cash with an additional non-tradeable contingent value right valued at up to $3.50 per share.
The additional payment will be based on clinical milestones for the company’s lead investigational candidate DB-OTO, which could create additional upside for shareholders.
Regeneron and Decibel have been partners since 2017.
With shares of Decibel trading at over $5, investors are counting on some level of additional payments from the deal.
Origin Materials Inc ORGN: The materials company saw shares drop and hit new 52-week lows after reporting second-quarter results and a company update. The company’s revenue total of $6.9 million for the second quarter missed a Street consensus estimate of $7.0 million.
A company update sees challenges for its planned Origin 2 plant.
“We are facing a higher-cost capital project environment than in early 2021, when we announced the initial plan for Origin 2. As such, we are revising the plant’s outlook and introducing a phased approach to construction,” Origin co-CEO Rich Riley said.
Origin 2 is now split into two phases with estimated completion dates of 2026 to 2027 and 2028, according to the company, well past the original goal of mid-2025. Shares of Origin are down 69% year-to-date in 2023.
Related Link: Exclusive: Top 10 Most Searched Tickers On Benzinga Pro In July
Magnite Inc MGNI: Shares of the online advertising company fell after reporting second-quarter financial results. The company beat earnings per share and revenue estimates from analysts for the quarter, but its guidance for the full year may have spooked investors. Magnite now sees mid-to-high single-digit growth versus earlier expectations for high-single-digit growth.
Several analysts lowered their price targets after the quarterly results. Investors could see the weakened guidance of online advertising and connected TV businesses as worrisome to Magnite and peer companies moving forward.
X4 Pharmaceuticals XFOR: The clinical pharmaceutical company saw shares decline by 36% on Thursday. Even with the drop, shares are up by 10% year-to-date in 2023, likely leaving investors with questions about what’s ahead.
The company said it has $142.3 million in cash, which is expected to support operations into 2025. X4 said its new drug application for mavorixafor in the U.S. is on track for the second half of 2023.
H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating and $3 price target for the company moving forward.
Exxon Mobil Corp XOM: Despite being one of the largest companies in the world, Exxon Mobil does not often pop up as one of the most searched tickers on Benzinga, which suggests investors are paying more attention to the oil and gas company.
The increased interest comes after the company reported second-quarter results in July and announced interest in providing a lithium supply chain to electric vehicle companies.
Investors may have also noticed two recent insider purchases by Director Jeffrey Ubben that were worth millions of dollars in Exxon Mobil shares.
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