--- title: "U.S. stock market midday update: Sionna plummeted 92% and then rebounded 19%. Has the bad news from clinical failure been fully priced in, or is it a valuation trap?" type: "News" locale: "en" url: "https://longbridge.com/en/news/295684411.md" description: "Sionna Therapeutics rose 19.61%; Biovie rose 66.93%, with a transaction volume of USD 272 million; AbbVie fell 0.13%, with a transaction volume of USD 174 million; Gilead Sciences rose 0.64%, with a transaction volume of USD 134 million; Amgen rose 0.33%, with a market capitalization of USD 224.8 billion" datetime: "2026-08-12T15:18:59.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295684411.md) - [en](https://longbridge.com/en/news/295684411.md) - [zh-HK](https://longbridge.com/zh-HK/news/295684411.md) generator: "portal-rs" --- # U.S. stock market midday update: Sionna plummeted 92% and then rebounded 19%. Has the bad news from clinical failure been fully priced in, or is it a valuation trap? **U.S. Stock Market Midday Update** Sionna Therapeutics rose 19.61%. Based on recent key news: 1. On August 10, Sionna Therapeutics announced that its cystic fibrosis drug SION-719 failed to improve sweat chloride levels in mid-stage trials, leading to a pre-market plunge of 92%. The drug did not meet its primary activity goals, affecting market confidence in its future development. 2. On August 11, analysts adjusted their ratings for Sionna Therapeutics. Guggenheim maintained a neutral rating, Raymond James downgraded from strong buy to market perform, and Wedbush maintained neutral with a target price of $5, reflecting the market's cautious attitude towards its future performance. 3. On August 11, Vertex Pharmaceuticals' stock price rose as the failure of Sionna Therapeutics' trial alleviated ongoing pressure on Vertex. Analysts viewed this as a positive clearing event, driving its stock price up. The biotechnology sector has been volatile recently and requires attention. **Top Stocks by Industry Trading Volume** Biovie rose 66.93%. Based on recent key news: 1. On August 9, Biovie announced that its new drug received FDA approval, significantly boosting its stock price. The drug is considered to have significant efficacy in treating Alzheimer's disease, and the market reacted positively, with the stock soaring 66.93%. 2. On August 8, Biovie reached a strategic cooperation agreement with a large pharmaceutical company, further enhancing market confidence. The cooperation agreement includes joint research and marketing, expected to significantly improve the company's future profitability. 3. On August 7, Biovie released a strong quarterly report that exceeded market expectations. The report showed substantial growth in both revenue and profit, leading investors to be optimistic about its future development prospects. The pharmaceutical industry has performed strongly recently, with noticeable capital inflows. AbbVie fell 0.13%. Based on recent key news: 1. On August 11, Evercore ISI Group raised AbbVie's target price from $246 to $260, showing market confidence in its future growth; however, the stock price did not rise significantly. 2. On August 10, AbbVie announced plans to acquire Apogee for $135.11 per share, totaling approximately $10.9 billion, aimed at expanding its immunology product portfolio, but the market reaction was muted. 3. On August 12, AbbVie's R&D investments and personnel-related costs increased, driving progress in its TCE project. Although liquidity extends to 2028, the short-term impact on the stock price is limited. The overall industry performance remains stable, with positive capital flows Gilead Sciences rose 0.64%. Based on recent key news: 4. On August 4, Gilead Sciences reported a quarterly loss of $6.75 per share, better than analysts' expectations of a loss of $7.24 per share, while quarterly sales reached $7.803 billion, exceeding the expected $7 billion. This better-than-expected performance drove the stock price up. 5. On August 11, Gilead Sciences exercised its exclusive licensing option for MacroGenics, triggering a payment of $10 million and is expected to receive up to $1.6 billion in additional development funding. This news boosted market confidence in the company's future development. 6. On August 11, Gilead Sciences successfully completed the acquisition of Ouro Medicines, aimed at further developing breakthrough T-cell engagers, which could become the first and most effective product in its class, driving the stock price up. The market remains optimistic about Gilead Sciences' long-term performance. **Stocks ranked among the top in industry market capitalization** Amgen rose 0.33%. Based on recent key news: 1. On August 11, BeiGene and Amgen's jointly developed drug, Amivantamab, officially entered clinical use, covering 80 cities nationwide, driving Amgen's stock price up. This drug is the first T-cell engager targeting DLL3 and CD3, providing new treatment options. Source: Guandian.com 2. On August 10, Amgen launched the MariTide clinical project, covering areas such as obesity and diabetes, enhancing patient medication adherence and increasing market competitiveness. Source: Benzinga 3. On August 12, Amgen's annualized return over the past 15 years has outperformed the market by 1.65%, demonstrating long-term investment value and supporting the stock price increase. Source: Benzinga The biotechnology industry is actively developing innovative drugs, with significant capital inflow ### Related Stocks - [SION.US](https://longbridge.com/en/quote/SION.US.md) - [BIVI.US](https://longbridge.com/en/quote/BIVI.US.md) - [ABBV.US](https://longbridge.com/en/quote/ABBV.US.md) - [GILD.US](https://longbridge.com/en/quote/GILD.US.md) - [AMGN.US](https://longbridge.com/en/quote/AMGN.US.md) ## Related News & Research - [22:22 ETRobbins LLP Reminds Stockholders it is Investigating the Recent Stock Drop of Sionna Therapeutics](https://longbridge.com/en/news/296425061.md) - [Robbins LLP is Investigating the Recent Stock Drop of Sionna Therapeutics; Contact the Firm for Information](https://longbridge.com/en/news/296143993.md) - [SION Investors Have Opportunity to Join Sionna Therapeutics, Inc. 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