First Republic Bank, Blend Labs, Purple Innovation And Other Big Stocks Moving Lower On Friday

U.S. stocks traded lower, with the Dow Jones dropping more than 400 points on Friday. Here are some big stocks recording gains in today’s session.

• Blend Labs, Inc. BLND dropped 36.5% to $0.9338 after the company reported worse-than-expected Q4 adjusted EPS and sales results.
• Nexters Inc. GDEV shares fell 35.7% to $3.60 after the company issued Q4 update.
• First Republic Bank FRC dropped 26.2% to $25.23 after the bank announced a deal for $30 billion in deposits from major banks and said it has decided to suspend its dividend.
• Purple Innovation, Inc. PRPL fell 21.6% to $2.5815 after the company reported worse-than-expected Q4 adjusted EPS results and issued Q1 revenue guidance below analyst estimates.
• Sarepta Therapeutics, Inc. SRPT dropped 19.9% to $119.83 after the company said that that FDA has decided to hold a public advisory committee meeting on its SRP 9001 BLA.
• Montauk Renewables, Inc. MNTK declined 19% to $7.70 after the company reported full year 2022 results.
• Western Alliance Bancorporation WAL dropped 17.6% to $30.34. Shares of several companies in the broader financial space traded lower on continued downward momentum in the sector amid volatility and stability concerns following multiple bank failures.
• Pharming Group N.V. PHAR fell 17% to $9.94 following Q4 results.
• Semantix, Inc. STIX dropped 16.8% to $ 3.7250.
• CareMax, Inc. CMAX fell 16.6% to $3.0350. CareMax said it sees FY22 revenue of $631.1 million.
• Karooooo Ltd. KARO dipped 15.8% to $22.00.
• Aspen Aerogels, Inc. ASPN dropped 14.7% to $6.67.
• PacWest Bancorp PACW fell 13.3% to $ 9.93.
• Sunnova Energy International Inc. NOVA fell 14.4% to $12.59.
• Emergent BioSolutions Inc. EBS dropped 12.8% to $8.41 after JP Morgan downgraded the stock from Neutral to Underweight and lowered its price target from $23 to $9.
• Cutera, Inc. CUTR fell 11.1% to $24.75.
• Sunrun Inc. RUN dropped 10% to $17.10.
• Metropolitan Bank Holding Corp. MCB fell 10% to $35.81.
• SL Green Realty Corp. SLG dropped 9.6% to $23.77.
• Despegar.com, Corp. DESP fell 9.2% to $5.01. Despegar.com recently posted downbeat quarterly results.
• Design Therapeutics, Inc. DSGN dropped 8.8% to $6.41.

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