Stocks In Focus: INO, MTTR, RBLX
12:59 pm Wednesday, May 11th, 2022
The vaccine race isn’t over, but it might be for Inovio Pharmaceuticals (NASDAQ:INO). Recently, this synthetic DNA-focused biotech company announced that it will be discontinuing it’s Covid-19 vaccine study. Although the company has confirmed it will now focus on a promising booster candidate, INO stock is still falling quickly. This news comes on the heels of Inovio’s first-quarter earnings report and the announcement of its new CEO. This morning, news of the trial halt sent INO stock plunging. It dropped 20% within the first hour of trading after falling pre-market. Since then, however, it has shown signs of a slight rebound. As of this writing, INO is down more than 25% for the day. There’s plenty of time left for it to continue a turnaround. However, given today’s onslaught of bad news, that doesn’t seem likely.
After reporting stronger-than-expected first-quarter results yesterday, Matterport (NASDAQ:MTTR) stock is up 10% in morning trading. Matterport’s revenue came in at $28.5 million, versus analysts’ average outlook of $27.5 million. It reported a loss of 10 cents per share, which was better than analysts’ mean outlook of a per-share loss of 14 cents. Matterport, which markets its “spatial data platform” to real estate firms and other companies, noted that its subscriber base had soared 70% year over year to 562,000 in Q1. The firm’s subscription revenue, however, increased 24% YOY, while its overall top line climbed only 6% YOY.
Roblox (NYSE:RBLX) stock is rallying 20% today. The surge comes after the company reported weaker-than-expected results for the first quarter yesterday. Roblox is a platform and storefront for a variety of online games. In recent months, investors have come to see it as a bet on the metaverse. The company’s Q1 bookings came in at $631 million, versus an average estimate of $645 million. In more bad news, this bookings figure was down 3% year over year.
