Hot Stocks: ABNB downgrade; CAH, BCRX move on guidance; MRNA rises on a collaboration deal
Jan. 10, 2022 1:38 PM ETAirbnb, Inc. (ABNB)BCRX, CAH, MRNABy: Brian Stewart, SA News Editor6 Comments
- Online travel giant Airbnb (NASDAQ:ABNB) was among the spotlight stocks in Monday's midday trading, dropping on word of an analyst downgrade. Cardinal Health (NYSE:CAH) also lost ground, weighed down by a warning about the impact of inflation.
- On the other side of the spectrum, Moderna (NASDAQ:MRNA) rose on a collaboration deal related to cancer drug development. At the same time, BioCryst (NASDAQ:BCRX) rallied after providing guidance for one of its key products.
- Airbnb (ABNB) dropped about 6% in midday trading after Piper Sandler cut its rating on the stock. Citing valuation, the firm downgraded ABNB from Overweight to Neutral.
- Cardinal Health (CAH) was another midday decliner, dropping more than 7% on disappointing guidance. The company predicted that inflationary pressures and global supply chain bottlenecks would weigh on its results.
- Moderna (MRNA) got a lift in midday trading from news of a collaboration with Carisma Therapeutics. The strategy agreement is aimed at developing in vivo CAR-M therapeutics for the treatment of cancer. MRNA rose 8% on the news.
- Meanwhile, a positive forecast gave a 20% boost to shares of BioCryst (BCRX). The rally came as the company predicted Q4 revenue of $45.6M for its Orladeyo product. For 2022, the company projected Orladeyo would reach at least $250M in revenues.
- Looking for more of Wall Street's biggest winners and losers? Head over to SA's On The Move section.