PolyPid Stock (NASDAQ:PYPD), Trade Ideas

PolyPid

PolyPid Ltd is a clinical-stage biopharmaceutical company engaged in the research and development of products based on PLEX (Polymer-Lipid Encapsulation MatriX), the company's proprietary drug delivery technology. PLEX is capable of encapsulating many types of drugs to enable targeted, localized drug delivery into the body over extended periods of time with pre-determined release rates thus optimizing drug treatment regimens. BonyPid, PolyPid, Opzifend, Ssisurg, Elyfssi, Baczenssi, Opzifend and Bacyssio are trademarks of the company. Its product candidate include D-PLEX100 for prevention of SSI in soft tissue and OncoPLEX which can be a potential Intra-tumoral therapy.

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Why Applied Therapeutics Shares Are Trading Lower By Over 35%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

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Why Sharps Technology Shares Are Trading Lower By Around 32%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

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PolyPid Ltd

&#8216;Dogecoin Killer&#8217; Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) has witnessed significant whale activity driven by a 26% weekly surge, with the lead developer signaling confidence in the <a href="https://www.benzinga.com/money/shiba-inu-price-prediction">meme coin's performance</a>.
What Happened: Etherscan data shows one whale address that accumulated 237.87 billion SHIB on Monday. The anonymous wallet was set up recently, and the transaction could mean an over-the-counter purchase or a whale distributing their cryptocurrency stash between smaller blockchain addresses. 
This news comes amid Shiba Inu <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38358696/dogecoin-killer-shiba-inu-up-19-in-2-days-raises-12m-for-new-blockchain">announcing a $12 million investment</a> received for developing the new Layer 3 network that will focus on security and privacy.
Shibburn data points to a total of 411.9 million coins burnt in the past seven days, further contributing to the positive sentiment surrounding the meme coin.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38337646/dogecoin-killer-shiba-inu-whale-transactions-spike-55-100b-by-2025-predicts-crypto-investo">&#8216;Dogecoin Killer&#8217; Shiba Inu Whale Transactions Spike 55%: &#8216;$100B By 2025,&#8217; Predicts Crypto Investor</a>
Why It Matters: IntoTheBlock data shows an 18.3% spike in large transaction volume to $97.55 million, while concentration by large holders stands at 73%. Shibariumscan data highlights an increase in new contracts to 38 as of April 22, compared to 18 as of April 21.
Shiba Inu lead developer Shytoshi Kusama, in his latest tweet, explained why he kept changing location as he was pitching his ideas to the smartest minds in the industry. 
He stated, &#8220;This is a big day for SHIB as we push forward for encryption and elevate our entire brand,&#8221; adding that there is much in store for the Shib army.
Price Action: At the time of writing, SHIB was trading at $0.00002724, up 2.5% over the past 24 hours.
What's Next: The influence of meme coins and&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;are topics expected to be thoroughly explored at Benzinga's upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38321897/dogecoin-shiba-inu-and-who-else-how-meme-coins-have-evolved-since-the-last-bitcoin-halving">Dogecoin, Shiba Inu And Who Else? How Meme Coins Have Evolved Since The Last Bitcoin Halving</a>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$SHIB

Shiba Inu Whale Accumulates 237B SHIB In One Transaction:  'Much In Store For The SHIB Army,' Vows Lead Developer

HC Wainwright &amp; Co. analyst Swayampakula Ramakanth reiterates Corcept Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORT#NASDAQ">CORT</a>) with a Buy and maintains $38 price target.

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HC Wainwright & Co. Reiterates Buy on Corcept Therapeutics, Maintains $38 Price Target

Neurocrine Biosciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) revealed on Tuesday topline data for its Phase 2 SAVITRI study of NBI-1065845 in adult subjects with <a href="https://www.benzinga.com/pressreleases/24/04/n38375091/neurocrine-biosciences-reports-positive-phase-2-data-for-nbi-1065845-in-adults-with-major-depressi" target="_blank" rel="noreferrer noopener">major depressive disorder (MDD)</a>. 
In 2020, Neurocrine Biosciences and&nbsp;Takeda Pharmaceutical Company Limited&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAK#NYSE">TAK</a>) entered into a strategic collaboration to develop and commercialize compounds in Takeda&#8217;s early-to-mid-stage psychiatry pipeline, including an exclusive license to NBI-1065845 (TAK-653).
The study met its primary and&nbsp;key&nbsp;secondary endpoints, demonstrating that once-daily, oral administration of NBI-1065845 produced a statistically significant change from baseline in Montgomery Åsberg Depression Rating Scale (MADRS) total score at both Day 28 (primary) and Day 56 (secondary).&nbsp;
In the&nbsp;full&nbsp;analysis data set, the least squares (LS) mean differences from baseline in MADRS total score for NBI-1065845 were:
One of the doses demonstrated improvement over the placebo of -4.3 (p-value = 0.0159) and -7.5 (p-value = 0.0016) at Day 28 and Day 56, respectively.
The other undisclosed dose did not achieve statistical significance but demonstrated a trend toward improvement over the placebo of -3.0 (p-value = 0.0873) and -3.6 (p-value = 0.1082) at Day 28 and Day 56, respectively.
NBI-1065845 was generally well tolerated.&nbsp;
The most common adverse event was headache.&nbsp;The adverse event profile for both doses of NBI-1065845 was comparable to the placebo. There were no deaths or serious adverse events.&nbsp;
The discontinuation rates were low throughout the study.
William Blair suggested the company&#8217;s recent update is a positive development, especially considering its inconsistent performance in the midstage pipeline, particularly with the neuropsychiatry portfolio obtained from Takeda.&nbsp;
Although depression remained challenging to address due to placebo effects, the update indicated the potential for a significant sales opportunity exceeding $1 billion for a new antidepressant mechanism.
Despite this, there is cautious optimism, although replication in pivotal studies is crucial.&nbsp;
Investors are also eagerly awaiting updates on the M4-agonist &#8216;568 program, given positive results from similar programs in the industry.&nbsp;
In the meantime, the company&#8217;s value largely depends on Ingrezza revenue, with anticipation for the first-quarter earnings call on May 1. 
William Blair maintained an <a href="https://www.benzinga.com/quote/NBIX/analyst-ratings" target="_blank" rel="noreferrer noopener">Outperform rating on Neurocrine</a>.
NBIX Price Action: NBIX shares are up 4.29% at $139.31 at the last check Tuesday.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38385424/quest-diagnostics-says-sales-in-q1-increased-for-the-first-time-since-the-height-of">Quest Diagnostics Says Sales In Q1 Increased For The First Time Since The Height Of Pandemic</a>
Photo: Julia Koblitz via Unsplash

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Neurocrine Biosciences Says Treatment Can Alleviate Several Symptoms Associated With Depressive Disorder

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Watching Zoom Video Communications; Hearing Columbia University Classes May Go Remote For The Rest Of The Year Due To Protests

<a href="https://president.columbia.edu/news/statement-columbia-university-president-minouche-shafik-4-22" title="https://president.columbia.edu/news/statement-columbia-university-president-minouche-shafik-4-22">https://president.columbia.edu/news/statement-columbia-university-president-minouche-shafik-4-22</a>

On Monday, Columbia University President Cited Protests As Cause For Virtual Classes

Wedbush analyst David Nierengarten reiterates Vor Biopharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VOR#NASDAQ">VOR</a>) with a Outperform and maintains $11 price target.

Wedbush Reiterates Outperform on Vor Biopharma, Maintains $11 Price Target

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SMCI

Super Micro Computer shares are trading higher as the stock rebounds following Friday's selloff.

Canaccord Genuity analyst Jeremy Hoy maintains Skeena Resources (TSX:<a class="ticker" href="https://www.benzinga.com/stock/SKE#TSX">SKE</a>) with a Speculative Buy and raises the price target from C$14.75 to C$17.

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Canaccord Genuity Maintains Speculative Buy on Skeena Resources, Raises Price Target to C$17

GE Vernova shares are trading higher. GE Aerospace today reported Q1 earnings.

ALAB

Astera Labs shares are trading higher as AI and semiconductor-related stocks rebound after Friday's drop.

JP Morgan analyst Reginald Smith reiterates Affirm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) with a Neutral.

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JP Morgan Reiterates Neutral on Affirm Holdings

In early 2021, Ark Invest, led by tech investor Cathie Wood, managed a staggering $59 billion across six funds, making it the world&#8217;s <a href="https://www.benzinga.com/topic/cathie-wood">largest active ETF manager.</a>
Three years later, a significant 80% downturn occurred, with assets under management in those funds plummeting to just $11.1 billion. This decline can be attributed to a combination of factors, including high interest rates dampening Wood&#8217;s long-term speculative tech investments and the subsequent wave of outflows from disillusioned investors.
To give a sense of the&nbsp;scale, investors had withdrawn a substantial $2.24 billion from Wood&#8217;s actively managed funds by the end of the third week of April 2024, nearly tripling the outflows seen throughout all of 2023. 
Notably, Ark&#8217;s flagship fund, the ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), experienced outflows exceeding $1.3 billion in less than four months this year, far surpassing the $578 million seen in 2023.
Below is a breakdown of the fund flows for Ark&#8217;s actively managed ETFs in 2024 compared to 2023:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>ARK Actively Managed ETFs</th>
<th>YTD 2024 Fund Flows (as of Apr. 19)</th>
<th>2023 Fund Flows</th>
</tr>
</thead>
<tbody>
<tr>
<td>ARK Innovation ETF </td>
<td>-1.37 B</td>
<td>-578.15 M</td>
</tr>
<tr>
<td>ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>)</td>
<td>-211.66 M</td>
<td>-63.93 M</td>
</tr>
<tr>
<td>ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>)</td>
<td>-363.74 M</td>
<td>40.41 M</td>
</tr>
<tr>
<td>ARK Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) </td>
<td>-144.93 M</td>
<td>-58.26 M</td>
</tr>
<tr>
<td>ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>)</td>
<td>-126.76 M</td>
<td>-53.14 M</td>
</tr>
<tr>
<td>ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>)</td>
<td>-21.97 M</td>
<td>-42.23 M</td>
</tr>
</tbody>
<tfoot>
<tr>
<td>Total</td>
<td>2.24 B</td>
<td>755.3 M</td>
</tr>
</tfoot>
</table>
<figcaption class="wp-element-caption">Source: VettaFi</figcaption></figure>
"The loyal shareholders have become frustrated," Todd Rosenbluth, head of research at data provider VettaFi, told <a href="https://www.wsj.com/finance/investing/ark-funds-cathie-wood-investors-56e2950c">The Wall Street Journal</a>. 
Despite the promising outlook for Ark&#8217;s growth and disruptive technology investment style this year, Rosenbluth said heavy concentration of funds in underperforming companies remains a concern. 
With the sole exception of Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), none of the other top 10 holdings in the Ark innovation ETF have yielded positive returns in 2024.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Weight</td>
<td>Return</td>
</tr>
<tr>
<td>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>)</td>
<td>9.38%</td>
<td>35.60%</td>
</tr>
<tr>
<td>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>9.32</td>
<td>-41.76</td>
</tr>
<tr>
<td>Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>)</td>
<td>8.27</td>
<td>-33.26</td>
</tr>
<tr>
<td>Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>)</td>
<td>6.98</td>
<td>-4.80</td>
</tr>
<tr>
<td>UiPath Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) </td>
<td>5.69</td>
<td>-21.46</td>
</tr>
<tr>
<td>CRISPR Therapeutics AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSRP#NASDAQ">CSRP</a>)</td>
<td>4.92</td>
<td>-7.28</td>
</tr>
<tr>
<td>Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>)</td>
<td>4.50</td>
<td>-15.59</td>
</tr>
<tr>
<td>Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>)</td>
<td>4.47</td>
<td>-19.14</td>
</tr>
<tr>
<td>Robinhood Markets, Inc. </td>
<td>4.21</td>
<td>38.85</td>
</tr>
<tr>
<td>Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>)</td>
<td>3.33</td>
<td>-43.14</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data as of Apr. 23, 2024</figcaption></figure>
Read Also: <a href="https://www.benzinga.com/markets/equities/24/04/38368840/cathie-woods-ark-invest-seizes-tesla-dip-acquires-over-17m-in-shares-ahead-of-q1-results-zoom-st">Cathie Wood&#8217;s Ark Invest Seizes Tesla Dip, Acquires Over $17M in Shares Ahead Of Q1 Results — Zoom Stock Dumped</a>
<h1 class="wp-block-heading">Short Strategies On Cathie Wood&#8217;s Ark Funds Emerge</h1>
The underperformance of Cathie Wood&#8217;s actively managed funds has prompted other ETF issuers to undertake short strategies on Ark ETFs. 
AXS Investments launched the AXS Short Innovation Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SARK#NASDAQ">SARK</a>) at the end of 2021, which shorts Wood&#8217;s flagship ARKK fund and has seen a 40% increase since inception. During the same timeframe, the ARKK Innovation ETF were down by over 60%. 
In May 2022, AXS Investments also launched the AXS 2X Innovation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TARK#NASDAQ">TARK</a>), which shorts ARKK with a leverage of 2x. 
<h1 class="wp-block-heading">Chart: Shorting Cathie Wood&#8217;s Flagship Fund Brings Robust Returns </h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23110907/image-167-1024x495.png" alt="" class="wp-image-304720" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23110907/image-167-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23110907/image-167-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23110907/image-167-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23110907/image-167-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23110907/image-167.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Greg Bassuk, CEO of AXS Investments, highlighted on CNBC last month a spike in inflows affecting these two funds: "With thousands of startups and small high growth companies driving innovation having received financing from Silicon Valley Bank and others like it, this really could be a harbinger for concern around the ability of these kinds of innovation-driving companies to get financing going forward."
Seven days following the fallout of Silicon Valley Bank, the AXS Short Innovation Daily ETF and the AXS 2X Innovation ETF witnessed an 80% and 50% jump in trading activity, respectively. 
Read Now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38372445/cathie-woods-ark-invest-says-bitcoin-could-be-priming-for-over-3-000-rally-over-nex">Cathie Wood&#8217;s Ark Invest Says Bitcoin Could Be Priming For Over 3,000% Rally Over Next 12 Months As King Crypto Becomes Less Inflationary Than Gold After Halving</a>
Cathie Wood photo courtesy of Ark Invest.

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TSLA

Cathie Wood's Ark Empire Bleeds As Investor Outflows Spike: 'The Loyal Shareholders Have Become Frustrated'

Mueller Industries shares are trading higher following mixed Q1 results.

Wedbush analyst David Nierengarten reiterates TScan Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCRX#NASDAQ">TCRX</a>) with a Outperform and maintains $10 price target.

TCRX

Wedbush Reiterates Outperform on TScan Therapeutics, Maintains $10 Price Target

The future of the automotive industry looks upbeat, with almost one-third of cars on China&#8217;s roads expected to be electric by 2030, along with nearly one-fifth in both the U.S. and the European Union, according to a&nbsp;<a target="_blank" href="https://www.iea.org/news/the-worlds-electric-car-fleet-continues-to-grow-strongly-with-2024-sales-set-to-reach-17-million" rel="noreferrer noopener">report&nbsp;</a>by the International Energy Agency (IEA).
More than one in five cars sold worldwide this year&nbsp;is anticipated&nbsp;to be electric, marking a significant shift that will reshape the global auto industry and&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38346490" rel="noreferrer noopener">reduce oil consumption for road transport.</a>
The latest edition of the IEA&#8217;s Global EV Outlook reveals that global electric car sales&nbsp;are projected&nbsp;to reach approximately 17 million by the end of 2024, with a 25% increase compared to the same period in 2023.
China is poised to lead the electric vehicle (EV) revolution, with an estimated 10 million electric cars sold in 2024, accounting for about 45% of all car sales in the country.
In the U.S., approximately one in nine cars sold&nbsp;is projected&nbsp;to be electric, while in Europe, despite challenges in some markets, electric&nbsp;cars&nbsp;are still anticipated to represent about one in four cars sold.
The surge in electric vehicle sales follows a record-breaking year in 2023, where global electric car sales soared by 35% to nearly 14 million.
Investments in the electric vehicle supply chain, coupled with policy support and declining EV prices, are expected to drive further growth in the years ahead.
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38351314" rel="noreferrer noopener">Did Tesla&nbsp;Just&nbsp;Trigger Another Brutal Price War In China? Li Auto Blinks First With Up To $4,000&nbsp;Discount</a>
Under current policy settings, the IEA predicts that every other car sold globally will be electric by 2035, with significant implications for the auto industry and energy sector.
Tesla&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>),&nbsp;Rivian Automotive&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>),&nbsp;Lucid Group&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>),&nbsp;XPeng&nbsp;Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)&nbsp;and&nbsp;NIO Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)&nbsp;are some of the know electric vehicle manufacturers.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Octus_Photography on Shutterstock

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LCID

RIVN

XPEV

Automotive Industry Shifts Gears: Electric Cars To Dominate Roads By 2030

Spotify (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spot#NYSE">SPOT</a>) came out with quarterly earnings of $1.05 per share, beating the Zacks Consensus Estimate of $0.63 per share. This compares to loss of $1.24 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 66.67%. A quarter ago, it was expected that this music-streaming service operator would post a loss of $0.08 per share when it actually produced a loss of $0.39, delivering a surprise of -387.50%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Spotify, which belongs to the Zacks Technology Services industry, posted revenues of $3.95 billion for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 2.05%. This compares to year-ago revenues of $3.26 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Spotify shares have added about 44.9% since the beginning of the year versus the S&amp;P 500&#39;s gain of 5.1%.
What&#39;s Next for Spotify?
While Spotify has outperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Spotify: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.75 on $4.02 billion in revenues for the coming quarter and $3.50 on $16.56 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the bottom 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Allot Communications (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/allt#NASDAQ">ALLT</a>), is yet to report results for the quarter ended March 2024.
This internet protocol services company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of +52.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Allot Communications&#39; revenues are expected to be $19.1 million, down 9.6% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2259779/spotify-spot-surpasses-q1-earnings-and-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2259779">To read this article on Zacks.com click here.</a>

Earnings

ALLT

SPOT

Spotify Surpasses Q1 Earnings and Revenue Estimates

Weatherford International's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NYSE">WFRD</a>) short percent of float has fallen 10.58% since its last report. The company recently reported that it has 2.78 million shares sold short, which is 5.07% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.98 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Weatherford International Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713892522_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Weatherford International has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Weatherford International's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Weatherford International's peer group average for short interest as a percentage of float is 6.90%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Ideas

WFRD

Looking Into Weatherford International's Recent Short Interest

Varonis Systems's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRNS#NYSE">VRNS</a>) short percent of float has risen 4.64% since its last report. The company recently reported that it has 6.88 million shares sold short, which is 7.21% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.28 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Varonis Systems Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713892517_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Varonis Systems has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Varonis Systems's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Varonis Systems's peer group average for short interest as a percentage of float is 4.21%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

VRNS

Looking Into Varonis Systems's Recent Short Interest

Smart for Life's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFL#NYSE">SMFL</a>) short percent of float has risen 260.64% since its last report. The company recently reported that it has 271 thousand shares sold short, which is 35.09% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Smart for Life Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713892512_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Smart for Life has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Smart for Life's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Smart for Life's peer group average for short interest as a percentage of float is 2.68%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into Smart for Life's Recent Short Interest

Stifel analyst John Annis maintains Southwestern Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWN#NYSE">SWN</a>) with a Hold and raises the price target from $6.6 to $7.6.

Stifel Maintains Hold on Southwestern Energy, Raises Price Target to $7.6

Analysts have been eager to weigh in on the Healthcare sector with new ratings on PolyPid (PYPD – Research Report), Aadi Bioscience (AADI – Researc...

Analysts Have Conflicting Sentiments on These Healthcare Companies: PolyPid (PYPD), Aadi Bioscience (AADI) and Cullinan Management (CGEM)

NDRA, PYPD and TAOP among mid-day movers

PolyPid looks to raise $16.2M through private placement

Cyclacel Pharmaceuticals, Angiodynamic among healthcare movers

In a report released today, Balaji Prasad from Barclays maintained a Hold rating on PolyPid (PYPD – Research Report), with a price target of $10.00...

PolyPid (PYPD) Receives a Hold from Barclays

PolyPid GAAP EPS of -$3.97 misses by $1.18

PolyPid Ltd (PYPD) Q4 2023 Earnings Call Transcript

PolyPid (PYPD – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Roy Buchanan from JMP Securi...

Buy Rating for PolyPid Amid Positive D-PLEX100 Trial Prospects and Strategic Market Positioning

There's a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Anavex Life Sciences (AVXL – Research Report), PolyP...

Analysts Offer Insights on Healthcare Companies: Anavex Life Sciences (AVXL), PolyPid (PYPD) and Nyxoah (NYXH)

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on HCA Healthcare (HCA – Research Report), PolyPid (P...

Analysts Have Conflicting Sentiments on These Healthcare Companies: HCA Healthcare (HCA), PolyPid (PYPD) and Eli Lilly & Co (LLY)

AADI

ADTX

AVXL

CDIO

CGEM

DOGZ

LBPH

LLAP

MOBX

NDRA

NYXH

RNXT

SNES

SNTG

SXTC

TAOP

VSTE

VTNR

Press Releases

PolyPid Announces Presentation at the American College of Surgeons Clinical Congress 2023