EyePoint, Stellantis and Enovix Sink to 52-Week Lows as 67% Plunge Leads Selloff
Updated
Updated · Yahoo Finance · Aug 18
EyePoint, Stellantis and Enovix Sink to 52-Week Lows as 67% Plunge Leads Selloff
3 articles · Updated · Yahoo Finance · Aug 18
Summary
EyePoint sank nearly 67% to a 52-week low of $3.95 after its Phase 3 LUGANO trial for DURAVYU in wet AMD missed its primary non-inferiority goal against aflibercept.
Nine patients had vision deterioration from causes unrelated to wet AMD, an imbalance EyePoint said skewed results; RBC cut its target to $5 from $37, while Jefferies lowered its target to $8 from $30.
Stellantis fell 4% to a 12-year low of $5.10 after recalling about 955,000 vehicles worldwide—848,000 in the U.S.—over software that can disable the rear-view camera while reversing.
Enovix dropped 18% to a record low of $3.52 after CEO Raj Talluri resigned unexpectedly; CFO Ryan Benton became interim CEO, and William Blair downgraded the stock on higher execution risk.
Investors now face near-term tests across all three names: EyePoint's LUCIA Phase 3 readout in about eight weeks, Stellantis' over-the-air recall fix, and Enovix's ability to meet reaffirmed third-quarter guidance.