Why Symbotic Shares Are Trading Higher By Around 22%; Here Are 20 Stocks Moving Premarket

Shares of Symbotic Inc. (NASDAQ:SYM) surged in pre-market trading after the company reported better-than-expected fourth-quarter sales results.

The company reported quarterly sales of $392.00 million which exceeded the analyst consensus estimate of $306.90 million. Symbotic reported quarterly losses of 8 cents per share, a 20% increase over losses of 10 cents per share from the same period last year, according to data from Benzinga Pro.

Keybanc maintained Symbotic with an Overweight and raised the price target from $50 to $63.

Symbotic shares gained 22% to $45.32 in pre-market trading

Here are some other stocks moving in pre-market trading.

Gainers

• TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) shares rose 65.9% to $0.2878 in pre-market trading. TRACON Pharmaceuticals recently announced license of product development platform for $3 million upfront payment.
• LQR House Inc. (NASDAQ:LQR) shares surged 62.5% to $0.0980 in pre-market trading. LQR House repurchased 1,476,355 shares in its ongoing share buyback initiative.
• Mountain Crest Acquisition Corp. IV (NASDAQ:MCAF) shares rose 41.2% to $9.20 in pre-market trading after falling more than 12% on Monday.
• Marpai, Inc. (NASDAQ:MRAI) rose 27.5% to $1.16 in pre-market trading. Marpai Form 4 filing showed Eitan Yaron bought 100,000 shares at an average price of $1.23 per share.
• INVO Bioscience, Inc. (NASDAQ:INVO) rose 17.4% to $2.02 in pre-market trading after falling 5% on Monday. INVO BioScience recently reported a year-over-year increase in third-quarter financial results.
• TC Biopharm (Holdings) Plc (NASDAQ:TCBP) gained 14% to $0.5929 in pre-market trading after gaining over 9% on Monday.
• Connect Biopharma Holdings Limited (NASDAQ:CNTB) shares climbed 12.7% to $2.40 in pre-market trading. Connect Biopharma will announce long-term data from the China pivotal trial of rademikibart in patients with moderate-to-severe atopic dermatitis on Nov. 21, 2023.
• Artivion, Inc. (NYSE:AORT) shares rose 11.8% to $15.80 in pre-market trading. Artivion recently announced completion of enrollment in PERSEVERE trial.
• Society Pass Incorporated (NASDAQ:SOPA) gained 10.1% to $0.2650 in pre-market trading after falling 6% on Monday.

Losers

• Sibanye Stillwater Limited (NYSE:SBSW) dipped 24.2% to $3.94 in pre-market trading.
• MorphoSys AG (NASDAQ:MOR) shares fell 23.4% to $4.49 in pre-market trading. The company’s Phase 3 study of pelabresib in myelofibrosis demonstrated statistically significant improvement in spleen volume reduction and strong positive trend in symptom reduction.
• Alzamend Neuro, Inc. (NASDAQ:ALZN) fell 19.4% to $1.12 in pre-market after falling 16% on Monday. Alzamend Neuro received a "Study May Proceed" letter from the FDA for the initiation of study AL001-MDD01, a Phase 2A clinical study of AL001 for major depressive disorder (MDD).
• Nogin, Inc. (NASDAQ:NOGN) shares fell 14.9% to $0.2655 in pre-market trading after jumping 73% on Monday. Alliance Global Partners recently downgraded Nogin from Buy to Neutral.
• Neptune Wellness Solutions Inc. (NASDAQ:NEPT) shares fell 14.5% to $0.7252 in pre-market trading. Neptune Wellness shares surged 25% on Monday after the company announced a letter of intent to acquire Datasys for total potential consideration of $112 million.
• AgileThought, Inc. (NASDAQ:AGIL) fell 13.8% to $0.0688 in pre-market trading.
• Bruush Oral Care Inc. (NASDAQ:BRSH) fell 13.6% to $0.2546 in pre-market trading after jumping around 75% on Monday. On Nov. 15, Brush Oral Care received a notice from the Nasdaq Listing Qualifications Department that the company is currently not in compliance with the minimum bid price requirement because the closing bid price of BRSH shares was below $1.00 per share for a period of 30 consecutive business days.
• Acutus Medical, Inc. (NASDAQ:AFIB) shares fell 12.8% to $0.2996 in pre-market trading after gaining around 40% on Monday.
• Turbo Energy, S.A. (NASDAQ:TURB) shares fell 11.1% to $1.36 in pre-market trading after adding around 4% on Monday.
• AVITA Medical, Inc. (NASDAQ:RCEL) shares fell 10.9% to $11.17 in pre-market trading after the company cut its FY23 revenue guidance.

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