FaZe Holdings, AXT And Some Other Big Stocks Moving Lower On Tuesday

U.S. stocks traded higher, with the Dow Jones gaining more than 700 points on Tuesday. Here are some big stocks recording losses in today’s session.

• KalVista Pharmaceuticals, Inc. KALV shares dropped 57% to $6.12 after the company announced it terminated the KOMPLETE phase 2 clinical trial for KVD824 for the prevention of attacks in people with hereditary angioedema.
• FaZe Holdings Inc. FAZE declined 33.6% to $5.41 after the company issued a filing showing issuance of up to roughly 5.92 million shares of common stock, the resale of up to roughly 64 million shares of common stock and the resale of roughly 173,000 warrants.
• FLJ Group Limited FLJ fell 18.2% to $1.5698.
• AXT, Inc. AXTI fell 17.8% to $5.76 after the company cut preliminary Q3 revenue guidance below estimates.
• Rallybio Corporation RLYB dropped 17.8% to $12.21. Rallybio recently announced preliminary results from its ongoing Phase 1b proof-of-concept study of RLYB212 to prevent fetal and neonatal alloimmune thrombocytopenia.
• Athersys, Inc. ATHX declined 15.5% to $1.85.
• Maravai LifeSciences Holdings, Inc. MRVI declined 13.4% to $21.43. Maravai LifeSciences announced CEO leadership transition.
• Mondee Holdings, Inc. MOND fell 11.3% to $7.80.
• Sportradar Group AG SRAD dropped 6.6% to $8.18 after B of A Securities downgraded the stock from Neutral to Underperform and lowered its price target from $14 to $8.
• Montauk Renewables, Inc. MNTK fell 6.2% to $16.91.
• Entrada Therapeutics, Inc. TRDA fell 5.8% to $15.06.