U.S. stock futures traded lower this morning. Here are some big stocks recording losses in today’s pre-market trading session.
- Y-mAbs Therapeutics, Inc. YMAB fell 37.4% to $5.62 in pre-market trading after FDA's Oncologic Drugs Advisory Committee (ODAC) raised concerns regarding the efficacy of the company’s potential pediatric neuroblastoma treatment, omburtamab. JP Morgan downgraded Y-mAbs Therapeutics from Neutral to Underweight and lowered the price target from $16 to $7.
- TuSimple Holdings Inc. TSP fell 16.3% to $5.28 in pre-market trading after the company reported termination of CEO and the initiation of a search for a new CEO. The company also faced federal investigations over alleged improper financing and transferring technology to a Chinese startup, Hydron Inc.
- Uxin Limited UXIN fell 11.1% to $3.62 in pre-market trading after declining around 10% on Friday.
- Petróleo Brasileiro S.A. - Petrobras PBR fell 8.8% to $12.27 in pre-market trading.
- Nuvalent, Inc. NUVL shares declined 6.5% to $33.06 in pre-market trading. Nuvalent shares jumped 60% on Friday after the company reported preliminary Phase 1 clinical data from the ARROS-1 trial that support the best-in-class potential of NVL-520 for patients with ROS1-positive NSCLC.
- Hanesbrands Inc. HBI declined 5.3% to $6.82 in pre-market trading.
- XPeng Inc. XPEV dropped 5.2% to $6.53 in pre-market trading. Citigroup, on Friday, downgraded XPeng from Buy to Sell and announced a $3.18 price target.
- Stem, Inc. STEM dropped 4% to $12.85 in pre-market trading. UBS recently initiated coverage on the stock with a Buy rating and a $19 price target.
Also check this out: US Stock Futures Down Following Friday's Rally; Crude Oil Edges Lower .
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