Pre-Open Stock Movers: Bristol-Myers Jumps on FDA Approval, Carvana Gains on Upgrade

Pre-Open Stock Movers:

Spectrum Pharmaceuticals , Inc. (Nasdaq: NASDAQ:SPPI) 18% HIGHER; announced data from a poster presentation titled: High Activity of Poziotinib in G778_P780dup HER2 Exon 20 Insertion Mutations in Non-Small Cell Lung Cancer (NSCLC). The data show that poziotinib is highly active in G778 mutations in both treatment naïve and previously treated patients with NSCLC.

Carvana (CVNA) 8% HIGHER; Piper Sandler upgraded from Neutral to Overweight with a price target of $73.00 (from $98.00).

Bristol-Myers Squibb (NYSE:BMY) 7% HIGHER; U.S. FDA approved Deucravacitinib, now known as Sotyktu, for the treatment of psoriasis.

Relay Therapeutics, Inc. (Nasdaq: RLAY) 5% LOWER; commenced an underwritten public offering of $300.0 million of shares of its common stock. Relay Therapeutics also intends to grant the underwriters a 30-day option to purchase up to an additional fifteen percent (15%) of the shares of common stock offered in the public offering. All of the shares in the proposed offering are to be sold by Relay Therapeutics.

Bill.com Holdings Inc. (NYSE:BILL) 3% HIGHER; Morgan Stanley initiates coverage with an Overweight rating and a price target of $220.00.

Apache Corp . (NASDAQ:APA) 3% HIGHER; Citi upgraded from Neutral to Buy with a price target of $58.00 (from $40.00).

Union Pacific (NYSE:UNP) 2% HIGHER; BofA Securities upgraded from Neutral to Buy with a price target of $260.00.

Adobe (NASDAQ:ADBE) 2% LOWER; Mizuho Securities downgraded from Buy to Neutral with a price target of $440.00 (from $480.00).

Roblox Corp. (RBLX) 2% LOWER; Cowen initiates coverage with an Underperform rating and a price target of $31.00.