In This Article:
Barclays analysts downgraded CoreWeave (CRWV) to Equal Weight, raising valuation concerns. This is CoreWeave's first downgrade since the company's initial public offering (IPO).
Rocket Pharmaceuticals (RCKT) stock is collapsing after the US Food and Drug Administration (FDA) paused the company's gene therapy trial following the death of a patient.
Piper Sandler analysts initiated coverage of SoundHound AI (SOUN), giving the artificial intelligence (AI) stock an Overweight rating and a $12 price target.
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Now time for some of today's trending tickers. We are watching Coreweave, Rocket Pharmaceuticals, and SoundHound. First up, Coreweave getting its first downgrade since filing for its IPO in March. Barclays downgrading the stock to equal weight from overweight calling short-term upside limited, but also raised its price target on Coreweave to $100 saying the analysts there remain optimistic long term. Despite all of that, Coreweave shares are currently higher by 15%. Wow, what is going on there? Um, we do see a little bit of an AI trade more broadly, of course, but interesting to see the stock moving up by that amount, uh, that continued momentum. Remember the company came public at $40 for its IPO. So trading already well above, uh, those, uh, levels at the moment. Shares of Rocket Pharmaceuticals sharply lower after the FDA paused a trial of its gene therapy treatment for Danon disease after a patient died during the study. Rocket said it voluntarily stopped patient dosing in the trial after one patient experienced symptoms of capillary leak syndrome. Rocket says it's working to restart the study, but does not have an estimate of when that will happen. You know, in a company like this, an experimental biotech that doesn't really have a a product on the market, when you get news like this, it is obviously detrimental to the shares. So you see that big drop that we are watching. And finally, Piper Sandler initiating coverage of artificial intelligence audio company SoundHound AI. Analyst rates the stock overweight with the price target of $12. Shares of SoundHound AI moving higher this morning after the note, which called the company a direct AI play and estimated it could serve a $30 billion market by 2027. Um, SoundHound shares have been relatively volatile as we have watched them. But today with that big gain, SoundHound a little memey, I think we could say fairly. Um, but the stock reached a a record high, um, back in late December of 24 23. So obviously it is halved, more than halved since those levels. So uh, has indeed seen that level of volatility. And you can scan the QR code below to track the best and worst performing stocks with Yahoo Finances Trending Tickers page.
