The fickle nature of the stock market was on full display as SOPHiA GENETICS SA SOPH stumbled during Tuesday’s session following disappointing fourth-quarter earnings and a lackluster 2024 outlook.
Sophia Genetics recorded a GAAP loss of 37 cents per share, missing market projections by 10 cents. Quarterly sales of $17.05 million also fell short of estimates by $0.28 million.
Resulting in a sharp 19% drop, SOPHiA GENETICS shares plummeted to $4.55 on Tuesday.
As the stock of the genetics company tumbled, other market players saw significant upward movement in today’s mid-day session.
Winners
- Sunshine Biopharma, Inc. SBFM soared 146.3% to $0.1106 after a dip the day before. Sunshine Biopharma recently announced the successful completion of a $10.0 million underwritten public offering.
- Airship AI Holdings, Inc. AISP surged 93.3% to $3.16 following news of a lucrative contract win with the Department of Justice for its Acropolis Enterprise Sensor Management video and data management platform.
- Bruush Oral Care Inc. BRSH leaped 42.9% to $0.0686.
- Apogee Therapeutics, Inc. APGE enjoyed a 41.6% hike to $59.10 after an encouraging update on the Phase 1 healthy volunteer trial for APG777 and the release of FY23 financial results.
- Dave Inc. DAVE surged 39.8% to $30.62 fueled by positive year-over-year fourth-quarter revenue growth.
- CareMax, Inc. CMAX rose 38.1% to $10.65.
- Enviva Inc. EVA climbed 26.4% to $0.6571.
- AeroVironment, Inc. AVAV shares shot up 24.8% to $163.05 after exceeding expectations in its fourth-quarter results and unveiling a promising FY24 outlook with adjusted earnings of $2.69 to $2.83 per share on revenue of $700 million to $710 million.
- INNOVATE Corp. VATE gained 24.4% to $0.90 upon releasing its fourth-quarter financial results.
- Ocean Biomedical, Inc. OCEA escalated 24.3% to $5.07.
- Paymentus Holdings, Inc. PAY surged 20.3% to $19.67 after surpassing fourth-quarter financial projections.
- BeyondSpring Inc. BYSI rose 20.1% to $1.97.
- bioAffinity Technologies, Inc. BIAF climbed 19.4% to $2.83 as the company reported accelerating sales growth of CyPath® Lung.
- XORTX Therapeutics Inc. XRTX gained 18.4% to $4.18.
- Cardio Diagnostics Holdings, Inc. CDIO rose 17.9% to $1.52 after securing a U.S. Patent and Trademark Office notice of allowance for U.S. Application No. 17,857,723 titled Compositions And Methods For Detecting Predisposition To Cardiovascular Disease.
- Phunware, Inc. PHUN experienced a 17.2% increase to $14.56 following volatility in Trump-related stocks and significant court rulings around Donald Trump’s candidacy.
- 3D Systems Corporation DDD jumped 14.7% to $4.7150 as the company announced further partial repurchase of convertible senior notes.
- Fresenius Medical Care AG FMS gained 12.2% to $20.95, reaching a milestone in its portfolio optimization program through the sale of dialysis clinics in various South American countries.
- New York Community Bancorp, Inc. NYCB saw an 11.3% rise to $3.0411 after addressing internal control issues by replacing its CEO.
- Vicarious Surgical Inc. RBOT climbed 7.8% to $0.3880 upon releasing its quarterly financial reports.
- DaVita Inc. DVA gained 7.4% to $135.14 as it initiated expansion efforts in various South American countries.
- Momentus Inc. MNTS saw a 7% increase to $0.8345 after securing a contract from NASA.
Losers
- Quoin Pharmaceuticals, Ltd. QNRX shares fell 46.2% to $1.56 following the announcement of a $6.5 million public offering.
- Crawford & Company (NYSE: CRD-A) dipped 27.7% to $9.04 after disappointing fourth-quarter financial results were made public.
The Market Tumbles: A Deeper Look at the Recent Financial Plunge
Stocks Plunge Across the Board
- Ekso Bionics Holdings, Inc. EKSO saw a significant drop by 24.8% to $1.58 following a mixed fourth-quarter financial report.
- ThredUp Inc. TDUP plummeted 23.3% to $1.8099 after revealing their fourth-quarter results.
- Lipella Pharmaceuticals Inc. LIPO nosedived 22.5% to $0.7909 with the announcement of FDA clearance, enhancing their clinical pipeline.
- Kineta, Inc. KA experienced a 21% drop to $0.7983.
- Eyenovia, Inc. EYEN declined by 21% to $1.8006.
- Semrush Holdings, Inc. SEMR fell 19.9% to $10.42 post their fourth-quarter financial release.
- BitFuFu Inc. FUFU saw a 19.3% decline to $10.60 following high volatility after a recent business merger and Nasdaq listing.
- GitLab Inc. GTLB shares dipped 19.2% to $60.16 due to lower-than-expected FY25 earnings guidance.
- Sidus Space, Inc. SIDU declined 19.2% to $4.58.
- Yiren Digital Ltd. YRD fell 16.3% to $4.60.
- Cara Therapeutics, Inc. CARA experienced a 16.2% drop to $0.8375 post their disappointing fourth-quarter results.
- Stitch Fix, Inc. SFIX shares tumbled 15.7% to $2.7650 due to underwhelming second-quarter results and a weak FY24 revenue forecast.
- Lotus Technology Inc. LOT fell by 15.6% to $5.66.
- Zhongchao Inc. ZCMD saw a 13.8% decrease to $ 2.73.
- CECO Environmental Corp. CECO dipped 13.8% to $19.74 despite strong fourth-quarter results and revised guidance.
- Renalytix Plc RNLX shares declined by 13.5% to $1.27. With a 41% jump earlier in the week, Renalytix received an attractive offer from a strategic diagnostics company.
- Powell Industries, Inc. POWL saw a significant decline by 12.4% to $161.88.
- Vivakor, Inc. VIVK shares took a 12.3% hit at $0.93 after a 30% surge. Vivakor signed a merger agreement valued at approximately $250 million.
- MicroStrategy Incorporated MSTR shares declined 12.1% to $1,172.93 following a proposed offering of $600 million in convertible senior notes.
- AxoGen, Inc. AXGN fell 12.1% to $9.31 after revealing their fourth-quarter financial results.
- MingZhu Logistics Holdings Limited YGMZ shares dropped by 11.2% to $0.4785 after a 12% gain earlier in the week. MingZhu Logistics Holdings aimed to acquire driverless auto technologies and intellectual property.
- Albemarle Corporation ALB witnessed an 11.9% decrease to $117.40 due to a proposed public offering of depositary shares.
- Tandem Diabetes Care, Inc. TNDM dipped 11% to $27.73 after announcing a $250 million private placement of convertible notes due 2029.
- Amer Sports, Inc. AS experienced a 10.1% drop to $15.59 due to disappointing fourth-quarter adjusted EPS results and a weak FY24 EPS guidance.
- Ainos, Inc. AIMD shares fell 9.8% to $1.28 after surging 35% on Monday.
- Samsara Inc. IOT witnessed a 9% decline to $32.65.
- MongoDB, Inc. MDB fell 8.2% to $ 402.84.
- Sprout Social, Inc. SPT witnessed an 8% decline to $58.96.
- e.l.f. Beauty, Inc. ELF declined 7.5% to $193.29.
