Sorrento Therapeutics, Citius Pharmaceuticals And Other Big Stocks Moving Lower In Monday's Pre-Market Session

U.S. stock futures traded slightly higher this morning. Here are some big stocks recording losses in today’s pre-market trading session.

• Sorrento Therapeutics, Inc. SRNE shares dipped 22.3% to $0.7301 in pre-market trading. Sorrento Therapeutics’ Subsidiary Scilex acquired rights to FDA-approved ELYXYB in the US and Canada for the acute treatment of migraine.
• Citius Pharmaceuticals, Inc. CTXR declined 7.1% to $1.30 in pre-market. Citius Pharmaceuticals posted a Q1 loss of $0.02 per share.
• Fate Therapeutics, Inc. FATE fell 4.5% to $5.94 in pre-market trading. HC Wainwright & Co, last month, downgraded Fate Therapeutics from Buy to Neutral and lowered the price target from $115 to $7.
• Hesai Group HSAI dropped 4.3% to $21.25 in pre-market trading. Hesai Group recently priced its IPO at $19 per ADS.

Don’t forget to check out our premarket coverage here

• Virgin Orbit Holdings, Inc. VORB fell 3.6% to $1.59 in pre-market trading after gaining 6% on Friday. Virgin Orbit and Poland-based satellite manufacturer SatRev recently reported a follow-on launch services agreement (LSA) for additional launches of SatRev's satellites in 2023 and beyond.
• New Oriental Education & Technology Group Inc. EDU fell 3.6% to $38.38 in pre-market trading. New Oriental Education, last month, posted mixed quarterly results.
• ZIM Integrated Shipping Services Ltd. ZIM declined 3.4% to $21.70 in pre-market trading. ZIM Integrated Shipping Services, during November, reported better-than-expected Q3 EPS and sales results.

Now Read This: https://www.benzinga.com/news/earnings/23/02/30871643/investor-optimism-declines-as-dow-records-weekly-loss