Latest news for PhaseRx (OTC:PZRXQ) Stock

PhaseRx Inc is a biopharmaceutical company. It is developing a portfolio of products for the treatment of inherited enzyme deficiencies in the liver using intracellular enzyme replacement therapy, or i-ERT. The approach is enabled by proprietary Hybrid messenger RNA, or mRNA, Technology platform, which allows synthesis of the missing enzyme inside the cell. The product portfolio targets the three urea cycle disorders ornithine transcarbamylase deficiency, or OTCD, argininosuccinate lyase deficiency, or ASL deficiency, and argininosuccinate synthetase deficiency, or ASS1 deficiency.

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Stocks That Hit 52-Week Lows On Tuesday

PhaseRx Inc

Rivian Automotive Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares are up 13% in pre-market trading after German automaker Volkswagen Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) increased their <a href="https://www.benzinga.com/news/24/09/40772132/volkswagens-5b-deal-with-rivian-leaves-software-arm-cariad-workers-frustrated-ceo-left-out-report">planned investment into the EV startup</a> to $5.8 billion and kickstarted their joint venture.
What Happened: The two companies announced their plans for a joint venture in June. As part of the deal, Volkswagen was expected to invest about $5 billion into loss-making Rivian. 
However, Rivian said on Tuesday that the joint venture called Rivian and VW Group Technology, LLC is expected to start on Nov. 13 and Volkswagen will invest <a href="https://www.benzinga.com/news/contracts/24/11/41924462/rivian-stock-races-higher-after-the-bell-whats-going-on">up to $5.8 billion in Rivian and the JV</a> by 2027 as part of the deal, marking an increase of about 16% in planned investment.
About The New JV: The joint venture between the two players is <a href="https://www.benzinga.com/news/24/09/40682383/tesla-ceo-elon-musk-doubts-volkswagens-proposed-5b-rivian-investment-amid-reports-that-it-is-conside">aimed at providing next-generation electrical architecture</a> and software technology for both companies' future electric vehicles including Rivian&#8217;s R2 vehicle slated to enter production in the first half of 2026 at the company&#8217;s Normal, Illinois factory.
Developers and software engineers from both companies are expected to join the joint venture. While teams will initially be based in Palo Alto, California, three other sites are in development in North America and Europe, Rivian said in a statement on Tuesday. 
Rivian's&nbsp;Wassym Bensaid&nbsp;and Volkswagen's&nbsp;Carsten Helbing&nbsp;will lead the joint venture as co-CEOs.
Price Action: Rivian shares closed down 4.2% at $10.58 on Tuesday, but were up over 13% in the pre-market session on Wednesday. The stock is down by about 50% year-to-date, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/11/41894615/tesla-q4-deliveries-expected-to-set-new-records-but-not-enough-to-avoid-yearly-sales-decline-says-researcher" target="_blank" rel="noreferrer noopener">Tesla Q4 Deliveries Expected To Set New Records But Not Enough To Avoid Yearly Sales Decline, Says Researcher</a></li>
</ul>
Photo courtesy: Rivian

Equities

Pre-Market Outlook

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RIVN

VWAGY

Rivian Shares Rise 13% In Pre-Market: What's Going On?

Enlight Renewable Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENLT#NASDAQ">ENLT</a>) raises FY2024 sales outlook from $345.00 million-360.00 million to $355.00 million-370.00 million.

Guidance

ENLT

Enlight Renewable Energy Raises FY2024 Sales Guidance from $345.00M-360.00M to $355.00M-$370.00M  VS Est. $354.57M

Needham analyst Gil Blum reiterates Artiva Biotherapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARTV#NASDAQ">ARTV</a>) with a Buy and maintains $23 price target.

Price Target

Reiteration

Analyst Ratings

ARTV

Needham Reiterates Buy on Artiva Biotherapeutics, Maintains $23 Price Target

Needham analyst Chris Pierce maintains Urgently (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULY#NASDAQ">ULY</a>) with a Buy and lowers the price target from $2 to $1.5.

Needham Maintains Buy on Urgently, Lowers Price Target to $1.5

HC Wainwright &amp; Co. analyst Heiko Ihle maintains MAG Silver (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MAG#AMEX">MAG</a>) with a Buy and raises the price target from $18 to $20.

HC Wainwright & Co. Maintains Buy on MAG Silver, Raises Price Target to $20

Centene Plans To Reaffirm 2024 Adjusted EPS Guidance Of Greater Than $6.80 (Est $6.69); Also Plans To Reiterate That It Expects To Grow Adjusted EPS In 2025 And Beyond - Filing

On Tuesday, November 12, U.S. markets ended lower as investors took profits after a post-election rally, anticipating upcoming inflation data. Worries over Trump&#8217;s inflationary policies, rising Treasury yields, and weak European markets intensified the decline.
According to economic data, U.S. consumer inflation expectations eased to 2.9% in October, down from 3% in the prior four months. The RealClearMarkets/TIPP Economic Optimism Index jumped 13.4% in November to 53.2.
Most S&amp;P 500 sectors declined, led by materials, health care, and real estate, while tech and communication services rose against the trend.
The Dow Jones Industrial Average was down 0.86% and closed at 43,910.98, the S&amp;P 500 fell 0.29% to 5,984.00, and the Nasdaq Composite declined 0.09% to finish at 19,281.40.
Asia Markets Today
<ul>
<li>On Wednesday, Japan&#8217;s Nikkei 225 declined 1.55% and ended the session at 38,740.50, led by losses in the Transportation Equipment, Shipbuilding, and Trading sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 fell 0.75% and ended the day at 8,193.40, led by losses in the Metals &amp; Mining, Financials and Industrials sectors.</li>
<li>India&#8217;s Nifty 50 traded lower by 1.36% at 23,559.05, and the Nifty 500 was down 1.67% at 21,957.50, led by losses in the Real Estate, Capital Goods and Metals sectors.</li>
<li>China&#8217;s Shanghai Composite rose 0.51% to close at 3,439.28, and the Shenzhen CSI 300 rose 0.61%, finishing the day at 4,110.89.</li>
<li>Hong Kong&#8217;s Hang Seng slipped 0.12% and closed the session at 19,823.45.</li>
</ul>
Eurozone at 05:30 AM ET
<ul>
<li>The European STOXX 50 index was up 0.08%.</li>
<li>Germany&#8217;s DAX gained0.12%.</li>
<li>France&#8217;s CAC rose0.10%.</li>
<li>U.K.'sU.K.&#8217;s FTSE 100 index traded higher by 0.12%.</li>
</ul>
Commodities at 05:30 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.88% at $68.70/bbl, and Brent was up 0.82% at $72.48/bbl.</li>
<li>Oil prices rose due to supply tightness but remained near two-week lows after OPEC cut its demand forecasts for 2024 and 2025, citing weakness in China.</li>
<li>Natural Gas declined 1.17% to $2.873.</li>
<li>Gold was trading higher by 0.33% at $2,615.40, Silver gained 0.92% to $31.040, and Copper slipped 0.07% to $4.1338.</li>
</ul>
U.S. Futures at 05:30 AM ET
Dow futures decreased 0.12%, S&amp;P 500 futures were down 0.15%, and Nasdaq 100 futures fell 0.15%.
Forex at 05:30 AM ET
The U.S. dollar index is up 0.02% to 105.97, the USD/JPY rose 0.22% to 154.94, and the USD/AUD rose 0.10% to 1.5321.
Image via Shutterstock

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Asia Markets Down, Europe Up, Dollar Makes 5-Month High - Global Markets Today While US Slept

Earnings

SMCI

Super Micro Computer Said Unable To File Its Quarterly Report On Form 10-Q For The Period Ended September 30, 2024 In A Timely Manner Without Unreasonable Effort Or Expense

CAAS

China Automotive Systems Raises FY24 Revenue Guidance From $605M To $630M

Bellevue Capital Partners, One Of The Largest Shareholders Of Global Net Lease, Inc., Announced The Acquisition Of An Additional 100,000 Shares Of GNL

X4 had $135.8 million in cash, cash equivalents, restricted cash, and short-term marketable securities as of September 30, 2024. The Company believes it has sufficient funds to support operations into late 2025 and notes that this projected runway does not include potential future XOLREMDI revenue.

XFOR

X4 Pharmaceuticals Q3 2024 GAAP EPS $(0.18) Misses $(0.17) Estimate, Sales $560.00K Miss $1.69M Estimate

Hudbay Minerals Revised 2024 Annual Consolidated Cash Cost Guidance Range To $0.65-$0.85 Per Pound From $0.90-$1.10 Per Pound

Needham analyst David Saxon reiterates SI-BONE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIBN#NASDAQ">SIBN</a>) with a Buy and maintains $19 price target.

SIBN

Needham Reiterates Buy on SI-BONE, Maintains $19 Price Target

UAVS

AgEagle Aerial Systems Regained Compliance with NYSE American Continued Listing Standards

The main effect on the revenue guidance is the company's decision to terminate its activities in Russia due to limitations and constraints that are imposed with regard to operations there.&nbsp;
The Company raised and narrowed the range of its 2024 GAAP operating income guidance to between $24 million to $26 million, mainly due to the receipt of approximately $11 million in proceeds from an arbitration in Peru in H2 2024.&nbsp;
The Company also narrowed the range of its Adjusted EBITDA guidance to between $41 to $43 million, representing year-over-year growth of 15% at the mid-point.&nbsp;

GILT

Gilat Satellite Networks Narrows 2024 Revenue Guidance From $305M -$325M To $305M - $315M, Est $330.887M

As of September 30, 2024, Gyre had cash and cash equivalents of $15.9 million. Based on current plans, Gyre anticipates that its cash resources as of September 30, 2024 will enable it to fund operations through at least 12 months following the issuance of the condensed financial statements.

Biotech

Health Care

GYRE

Gyre Therapeutics Q3 2024 GAAP EPS Of $0.01 Vs. $0.05 YoY, With Adjusted Net Income Of $4.39M Vs. $11.19M YoY

DOLE

Dole Declares Cash Dividend Of $0.08 Per Share, Payable On January 3, 2025

B. Riley Securities analyst Liam Burke downgrades Adams Resources &amp; Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/AE#AMEX">AE</a>) from Buy to Neutral and lowers the price target from $45 to $38.

Downgrades

B. Riley Securities Downgrades Adams Resources & Energy to Neutral, Lowers Price Target to $38

Dole Raised FY24  Adjusted EBITDA Target By $10.0M To At Least $380.0M, Sees Capital Expenditure Between $130.0M-$140.0M

Hudbay Minerals Reaffirms FY24 Copper Production Of 137,000 - 176,000 Tonnes And Gold Production Of 263,000 - 319,000 Ounces

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