The biotech sector is poised to end June on a positive note, despite largely disappointing regulatory decisions scheduled during the month, thanks to a reversal in broader market sentiment.
Gainers
Revelation Biosciences, Inc. (NASDAQ: REVB) surged 77.4% to close at $1.11 on Thursday after jumping 27% on Wednesday. Revelation Biosciences recently announced completion of dosing for Phase 1b CLEAR clinical study of REVTx-99b for the treatment of allergic rhinitis.
Earnings season kicks off this week and many of the big banks are set to report quarterly financial results.
Earnings will probably be better-than-expected, but the outlook for net interest income is likely to be guided down, Morgan Stanley analyst Betsy Graseck said Monday on CNBC's "Squawk Box."
Lululemon Athletica inc’s (NASDAQ: LULU) comps are likely to slow going ahead, Goldman Sachs’ Lindsay Drucker Mann said in a report. She maintained a Sell rating on the company, while reducing the price target from $48 to $46.
Shares of Freeport-McMoRan Inc (NYSE: FCX) were trading higher Monday morning following mixed news as shares were upgraded at Citigroup and downgraded from analyst at Bank of America.
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