CommVault Systems, Halozyme Therapeutics And Other Big Stocks Moving Lower On Wednesday

U.S. stocks traded higher, with the Dow Jones gaining around 80 points on Wednesday. Here are some big stocks recording losses in today’s session.

• Rain Oncology Inc. RAIN shares dipped 17.4% to $10.30.
• CommVault Systems, Inc. CVLT shares declined 16.1% to $54.33 after the company issued Q3 guidance below estimates. Piper Sandler cut its price target on the stock from $70 to $60.
• Gladstone Commercial Corporation GOOD dropped 12.1% to $17.08.
• Studio City International Holdings Limited MSC fell 11.7% to $7.00.
• Halozyme Therapeutics, Inc. HALO declined 10.8% to $49.66 after the company issued FY23 adjusted EPS and revenue guidance below estimates.
• Ichor Holdings, Ltd. ICHR fell 10.7% to $26.48 after the company issued preliminary Q4 revenue results below estimates.
• Sabre Corporation SABR dropped 10.5% to $6.20 after B of A Securities downgraded the stock from Buy to Underperform and lowered its price target from $11 to $7.
• Terns Pharmaceuticals, Inc. TERN fell 10.2% to $7.92.
• GDS Holdings Limited GDS dropped 9.9% to $21.52 after the company announced a private convertible senior notes offering.
• Pharvaris N.V. PHVS fell 9.3% to $9.50.
• CureVac N.V. CVAC fell 9% to $11.37.
• Tandem Diabetes Care, Inc. TNDM dropped 6.8% to $41.49. Tandem Diabetes Care reported Q4 preliminary sales of $224 million, versus estimates of $221.56 million t.

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