Why Kodiak Sciences Shares Are Trading Lower By Around 20%? Here Are Other Stocks Moving In Thursday’s Mid-Day Session - Akanda (NASDAQ:AKAN), Abits Group (NASDAQ:ABTS)

Shares of Kodiak Sciences Inc. KOD fell sharply during Thursday’s session after the company reported a wider-than-expected fourth-quarter loss.

Kodiak Sciences posted a quarterly loss of $1.13 per share, compared to market expectations for a loss of 77 cents per share.

Kodiak Sciences shares dipped 19.9% to $5.97 on Thursday.

Here are some other stocks moving in today's mid-day session.

Gainers

Avalo Therapeutics, Inc. AVTX shares jumped 430% to $25.35 after the company announced it acquired a Phase 2-ready anti-IL-1β mAb, which it refers to as AVTX-009, through the acquisition of privately held AlmataBio. The company also announced a private placement financing of up to $185 million.
Xilio Therapeutics, Inc. XLO gained 146% to $1.58 after the company announced an exclusive license agreement with Gilead Sciences for a tumor-activated IL-12 program. The company announced a $11.3 million private placement equity financing.
Biodexa Pharmaceuticals Plc BDRX shares climbed 80% to $1.5395. Biodexa's MTX110 showed promise in extending life expectancy against aggressive brain cancers.
Ontrak, Inc. OTRK gained 55% to $0.9239.
Binah Capital Group, Inc. BCG gained 48% to $14.05 after dipping more than 20% on Wednesday.
Kidpik Corp. PIK gained 40.7% to $4.5999. Kidpik recently regained compliance with the Nasdaq minimum bid price requirement.
Allego N.V. ALLG rose 32.8% to $1.7650.
Akanda Corp. AKAN gained 28% to $0.2053 after the company announced a plan to evaluate opportunities in Bitcoin, Blockchain and AI applications in the cannabis industry.
Destiny Tech100 Inc. DXYZ rose 26% to $22.15.
REX American Resources Corporation REX gained 23.2% to $54.15 following upbeat earnings.
Nutriband Inc. NTRB gained 23% to $4.98. Nutriband recently provided a clinical and regulatory path overview for its AVERSA Fentanyl patch.
Summit Therapeutics Inc. SMMT gained 22.8% to $4.6050.
CERo Therapeutics Holdings, Inc. CERO gained 22.7% to $2.00.
Hut 8 Corp. HUT gained 20.4% to $11.87. Hut 8 Corp reported revenue of C$60.6 million for the six months ended Dec. 31, 2023.
Matterport, Inc. MTTR rose 16.8% to $2.2802.
RH RH rose 16.2% to $344.99 following the release of quarterly results. RH posted weaker-than-expected results for its fourth quarter, but issued upbeat forecast.
Cazoo Group Ltd CZOO gained 15.5% to $14.52 after jumping over 100% on Wednesday.
Sutro Biopharma, Inc. STRO surged 14.4% to $5.64. Oppenheimer analyst Jay Olson maintained Sutro Biopharma with an Outperform and maintained a $10 price target.
Kintara Therapeutics, Inc. KTRA shares rose 14.1% to $0.1021. Kintara Therapeutics announced expansion of REM-001 clinical study to include patients on pembrolizumab.
Nikola Corporation NKLA gained 12.7% to $1.0250.
OPKO Health, Inc. OPK climbed 12.1% to $1.1996. Labcorp announced acquisition of select assets of BioReference Health's Diagnostics Business.
Altimmune, Inc. ALT climbed 11.4% to $9.90. Altimmune recently released lean mass preservation data for pemvidutide and worse-than-expected fourth-quarter FY23 earnings.
Marathon Digital Holdings, Inc. MARA gained 10.4% to $24.37.
Ginkgo Bioworks Holdings, Inc. DNA rose 7.1% to $1.1786. Ginkgo Bioworks announced that it has been awarded a contract for up to $6 million from the Defense Advanced Research Projects Agency.
The Estée Lauder Companies Inc. EL gained 5.4% to $152.85 after B of A Securities upgraded the stock from Neutral to Buy and raised its price target from $160 to $170.

Losers

Primech Holdings Ltd. PMEC shares fell 46.7% to $2.07 after the company issued financial updates and corporate highlights for the six months ended Sept. 30, 2023.
Gamida Cell Ltd. GMDA fell 28.1% to $0.0427. Gamida Cell shares dipped over 82% on Wednesday after the company reported fourth-quarter results and disclosed the commencement of a restructuring process.
Data Storage Corporation DTST dipped 24% to $5.81 following fourth-quarter results.
urban-gro, Inc. UGRO declined 22.9% to $1.3992 after the company reported worse-than-expected fourth-quarter financial results.
Presto Automation Inc. PRST fell 22% to $0.1493. Presto Automation recently entered securities purchase agreements relating to the issuance and sale of 4.8 million shares
Tonix Pharmaceuticals Holding Corp. TNXP dipped 19.6% to $0.2629. Tonix Pharmaceuticals announced pricing of $4.4 million registered direct offering.
MillerKnoll, Inc. MLKN shares fell 17.2% to $25.28 as the company reported downbeat sales for its third quarter and issued weak guidance for the fourth quarter.
Sezzle Inc. SEZL fell 16.6% to $77.13.
NuCana plc NCNA fell 16.3% to $0.2616. NuCana announced a plan to implement 1-for-25 ADS ratio change.
SOBR Safe, Inc. SOBR fell 13.7% to $0.4460 after gaining 12% on Wednesday.
Murano Global Investments Plc MRNO fell 13% to $12.97.
22nd Century Group, Inc. XXII fell 12.5% to $ 0.1151 as the company posted fourth-quarter results and announced stock split of 1-for-16.
MicroStrategy Incorporated MSTR declined 10.9% to $1,710.01.
Hitek Global Inc. HKIT fell 10.3% to $1.56 after gaining over 22% on Wednesday.
Movella Holdings Inc. MVLA fell 10.2% to $0.0678 after dipping 20% on Wednesday.
Abits Group Inc. ABTS fell 10.2% to $0.70.
Reddit, Inc. RDDT fell 9.4% to $52.32.
Braze, Inc. BRZE dipped 9.3% to $45.90 after the company issued soft EPS guidance for FY25.
The Chemours Company CC shares dropped 6.2% to $27.09 after the company reported fourth-quarter results. The company also said it identified four material weaknesses amid its internal control over financial reporting.
GCT Semiconductor Holding Inc, GCTS fell 5.1% to $41.77 amid volatility following the company's recently completed business combination with Concord Acquisition Corp III and NYSE debut.
Carnival Corporation & plc CCL fell 4% to $16.52. Carnival posted a narrower-than-expected loss for its first quarter on Wednesday.