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Business Insider
19 hours ago
- Business
- Business Insider
Why Is VYNE Therapeutics Stock (VYNE) Down 70% Today?
VYNE Therapeutics (VYNE) stock plummeted on Wednesday following the release of the biopharmaceutical company's Phase 2b trial results for Repibresib gel. This is a treatment in development for nonsegmental vitiligo, which is a condition that causes patches of skin to lose their pigment. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. The big news here is that the clinical trial failed to meet its primary endpoint. Additionally, the study didn't meet a key secondary endpoint. As a result, the company will discontinue treatment in the ongoing extension phase of the trial and will terminate the trial. David Domzalski, President and CEO of VYNE Therapeutics, said, 'We are disappointed with the results of our Phase 2b trial, which were impacted by an unexpectedly high treatment effect in the vehicle arm and a high discontinuation rate in the active arms.' VYNE Stock Movement Today VYNE Therapeutics stock was down 69.99% in pre-market trading on Wednesday, following a 0.69% drop yesterday. The shares have also decreased 57.01% year-to-date and 24.21% over the past 12 months. Today's news brought heavy trading to VYNE stock, with some 1.9 million shares exchanged, compared to a three-month daily average of about 1.09 million shares. Is VYNE Therapeutics Stock a Buy, Sell, or Hold? Turning to Wall Street, the analysts' consensus rating for VYNE Therapeutics is Strong Buy, based on three Buy ratings over the past three months. With that comes an average VYNE stock price target of $5.17, representing a potential 259.03% upside for the shares.
Business Insider
19 hours ago
- Business
- Business Insider
Cathie Wood's ARK Investment buys 221.6K shares of PagerDuty today
20:05 EDT Cathie Wood's ARK Investment buys 221.6K shares of PagerDuty (PD) today Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Business Insider
19 hours ago
- Business
- Business Insider
FGI Industries Ltd trading halted, news pending
19:50 EDT FGI Industries (FGI) Ltd trading halted, news pending Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Business Insider
19 hours ago
- Business
- Business Insider
Biodexa Pharmaceuticals PLC-ADR trading halted, news pending
19:50 EDT Biodexa Pharmaceuticals (BDRX) PLC-ADR trading halted, news pending Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Business Insider
20 hours ago
- Business
- Business Insider
Trane downgraded to Hold from Buy at HSBC
HSBC analyst Wesley Brooks downgraded Trane (TT) to Hold from Buy with a $460 price target Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
