U.S. stocks traded slightly higher, with the Dow Jones gaining around 30 points on Tuesday. Here are some big stocks recording losses in today’s session.
- Rayonier Advanced Materials Inc. (NYSE:RYAM) fell 30.6% to $6.35. RBC Capital downgraded Rayonier Adv Materials from Outperform to Sector Perform and lowered the price target from $9 to $8.
- Moolec Science SA (NASDAQ:MLEC) dropped 26.8% to $9.50.
- Euronav NV (NYSE:EURN) shares fell 16.9% to $13.24.
- ALX Oncology Holdings Inc. (NASDAQ:ALXO) dropped 15.2% to $8.89.
- Wallbox N.V. (NYSE:WBX) fell 11.7% to $4.00. UBS maintained Wallbox with a Buy and lowered the price target from $14 to $7.
- Virgin Orbit Holdings, Inc. (NASDAQ:VORB) fell 11.7% to $1.70. Virgin Orbit shared its readiness for the Start Me Up mission for a historic U.K. launch on January 9.
- Sight Sciences, Inc. (NASDAQ:SGHT) fell 10.3% to $11.96 after the company announced preliminary unaudited Q4 and FY22 financial results.
- Sutro Biopharma, Inc. (NASDAQ:STRO) dropped 9.9% to $7.47. Sutro Biopharma announced results from a Phase 1 dose-expansion study of STRO-002 (luvelta) and interim safety data from exploratory cohort C of advanced ovarian cancer treated at the higher dose of luvelta (5.2mg/kg), along with prophylactic pegfilgrastim.
- TDCX Inc. (NYSE:TDCX) fell 9.2% to $11.94.
- Arqit Quantum Inc. (NASDAQ:ARQQ) dropped 8.5% to $2.5250.
- Super Micro Computer, Inc. (NASDAQ:SMCI) fell 8.4% to $77.67 after Spruce Point Management issued a bearish report on the stock.
- I-Mab (NASDAQ:IMAB) dropped 8.2% to $5.16.
- e.l.f. Beauty, Inc. (NYSE:ELF) fell 6.4% to $52.20.
- Box, Inc. (NYSE:BOX) fell 6.3% to $27.96. RBC Capital downgraded Box from Sector Perform to Underperform and lowered the price target from $28 to $24.
- Novonix Limited (NASDAQ:NVX) fell 5.5% to $4.45.
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