U.S. stock market update: Sonnet BioTherapeutics down 10.37%

U.S. Stock Market Midday Update

Sonnet BioTherapeutics fell 10.37%. Based on recent important news:

1. On August 14, Sonnet Biotherapeutics Holdings Inc's quarterly performance fell short of expectations, leading to a significant drop in stock price. The company reported a loss of $0.95 for the quarter ending June 30, much higher than the expected $0.49, causing the stock price to drop by 10.37%.

2. On August 14, Wall Street set a 12-month target price for Sonnet Biotherapeutics at $20, significantly higher than its recent closing price of $3.95. Nevertheless, the market remains cautious about its short-term performance.

3. On August 15, the market held an optimistic view on Sonnet Biotherapeutics' future performance, with an average target price of $4, indicating a potential increase of 6.38%, but recent poor performance has affected investor confidence.

Stocks with High Trading Volume in the Industry

Soleno Therapeutics fell 11.17%, with a trading volume of $249 million. Based on recent key news:

1. On August 15, Scorpion Capital announced a short position on Soleno Therapeutics, pointing out issues with its new drug Vykat XR, leading to a pre-market drop of 15%.

2. On August 15, Scorpion Capital further detailed that Vykat XR may pose risks of pulmonary edema and heart failure, failing to respond immediately to requests for comments.

3. On August 14, analysts projected Soleno's Vykat XR sales to reach $413.97 million by 2027.

Precigen rose 66.01%, with a trading volume of $238 million. Based on recent key news:

1. On August 15, Precigen announced that its drug Papzimeos received full FDA approval for the treatment of recurrent respiratory papillomatosis. This news led to a 44.32% increase in stock price.

2. On August 15, Precigen's target price was raised by HC Wainwright & Co. from $6 to $8.5, further boosting the stock price.

3. On August 15, Precigen announced it would immediately promote Papzimeos, and the market is confident about its future sales prospects, leading to continued stock price increases.

AbbVie rose 0.47%, with a trading volume of $226 million. Based on recent key news:

1. On August 13, AbbVie reported its second-quarter results, with revenue growth of 6.6% year-over-year, exceeding expectations, and adjusted earnings per share of $2.97, surpassing forecasts, leading to an upward revision of full-year profit expectations and an increase in stock price

2. On August 12, AbbVie announced an investment of $195 million to expand active pharmaceutical ingredient manufacturing in the United States, with plans to be operational by 2027, enhancing market confidence.

3. On August 12, Piper Sandler initiated coverage on AbbVie with an overweight rating and a target price of $231, raising market expectations.

Stocks ranked among the top in industry market capitalization

Amgen rose 0.97%, with increased trading volume. Based on recent significant news:

1. On August 13, Amgen reported second-quarter earnings, with revenue up 9% year-over-year and net profit soaring 92% year-over-year, exceeding market expectations, leading to a 0.97% increase in stock price.

2. On August 14, White House advisor Navarro claimed that pharmaceutical tariffs might be introduced, causing Amgen's stock price to rise by 0.6%.

3. On August 13, Bernstein lowered Amgen's target price from $350 to $335 but maintained an "outperform" rating