U.S. Stock Market Midday Update
Pyxis Oncology fell 53.16%. Based on recent key news:
<ol>
<li>
On December 18, Pyxis Oncology released its latest clinical trial results, showing a 46% objective response rate and a 92% disease control rate for its monotherapy in second-line and above recurrent/metastatic head and neck squamous cell carcinoma, while the combination treatment with KEYTRUDA® showed a 71% objective response rate and a 100% disease control rate in first-line/second-line and above settings. Despite good safety, the market's reaction to its trial results was below expectations, leading to a significant drop in stock price. Source: GlobeNewswire
</li>
<li>
On December 18, Pyxis Oncology's stock price fell sharply, possibly related to the market's interpretation of its clinical trial results. Investors' reaction to its trial results was below expectations, leading to a significant drop in stock price. Source: GlobeNewswire
</li>
<li>
On December 18, Pyxis Oncology's stock price fell sharply, possibly related to the market's interpretation of its clinical trial results. Investors' reaction to its trial results was below expectations, leading to a significant drop in stock price. Source: GlobeNewswire The biotechnology industry has been experiencing significant volatility recently.
</li>
</ol>
Stocks with High Trading Volume in the Industry
Insmed fell 14.67%. Based on recent key news:
<ol>
<li>
On December 17, Insmed announced that its Brenscocatib drug failed to meet primary or secondary efficacy endpoints in a mid-stage study, leading to a significant drop in stock price. The company decided to immediately halt the drug's development plan, and the stock price fell 17% in after-hours trading. Source: MT Newswires
</li>
<li>
On December 18, Jefferies and TD Cowen lowered Insmed's target price, reflecting the market's negative reaction to its drug development failure. Jefferies cut its target price from $269 to $241, while TD Cowen lowered its target price from $230 to $219. Source: Reuters
</li>
<li>
On December 18, Insmed announced the acquisition of INS1148, a monoclonal antibody targeting respiratory and immune inflammatory diseases, planning to advance development in interstitial lung disease and moderate to severe asthma. This move is seen as part of the company's strategic adjustment, showing potential in innovative drug development despite the failure of the Brenscocatib project. Source: Insmed Company Announcement The biotechnology industry has seen increased volatility recently, and risks need to be monitored.
</li>
</ol>
Amgen fell 0.29%. Based on recent news,
<ol>
<li>
On December 18, HSBC raised Amgen's target price from $381 to $425 and maintained a buy rating. This move is part of the bank's outlook for the pharmaceutical industry in 2026, boosting market confidence in Amgen and driving stock price fluctuations
</li>
<li>
On December 15, MarketBeat's analysis showed that although Amgen received a moderate buy rating, top analysts believe there are five stocks that are more worthy of investment. This information may lead to a decrease in investor confidence in Amgen, affecting its stock price.
</li>
<li>
No other significant news recently. The pharmaceutical industry outlook is positive, with notable capital flows.
</li>
</ol>
AbbVie rose 0.18%. Based on recent key news:
<ol>
<li>
On December 18, Morgan Stanley analysts maintained an overweight rating on AbbVie with a target price of $269. This move boosted market confidence in AbbVie, driving the stock price up.
</li>
<li>
On December 15, Bank of America lowered AbbVie's target price to $233 while maintaining a neutral rating. Nevertheless, AbbVie's fundamentals remain solid, and the market reaction was relatively mild.
</li>
<li>
On December 18, AbbVie had an annualized return of 14.56% over the past decade, outperforming the market. The recognition of its compound return by long-term investors supports the stable growth of its stock price. The pharmaceutical industry is performing strongly, but risks need attention.
</li>
</ol>
Stocks ranked among the top in industry market capitalization
Gilead Sciences fell 0.04%. Based on recent key news:
<ol>
<li>
On December 15, Gilead Sciences' experimental HIV treatment met its primary endpoint in late-stage trials. This result enhanced market confidence in the company's ability to expand in the HIV field, leading to a slight increase in stock price.
</li>
<li>
On December 16, Gilead Sciences' Chief Financial Officer Andrew D. Dickinson and Chief Commercial Officer Johanna Mercier reported the sale of the company's common stock. This move may raise market concerns about insider confidence in the company's future prospects, leading to stock price volatility.
</li>
<li>
On December 18, Gilead Sciences appointed Keeley Wettan as Executive Vice President and General Counsel. This appointment may be seen as a move to strengthen the company's legal compliance and management team, with limited impact on the stock price. Competition in the HIV treatment field is intensifying, and the market is paying attention
</li>
</ol>

PYXS

Pyxis Oncology fell 53.16%; Insmed fell 14.67%, with a transaction volume of USD 198 million; Amgen fell 0.29%, with a transaction volume of USD 7.66 million; AbbVie rose 0.18%, with a transaction volume of USD 5.332 million; Gilead Sciences fell 0.04%, with a market capitalization of USD 150.5 billion

Tracking Unusual Activity

Pyxis Oncology

U.S. Stock Market Midday Update: Pyxis Oncology's clinical trial results fall short of expectations, causing stock price to plummet 53.16%, triggering market turbulence