Ten stocks fell sharply on Tuesday, along with the broader market, as investors positioned portfolios in response to a flurry of corporate news.

Wall Street’s three major indices all finished in the red, with the Nasdaq leading the drop by 0.90 percent, followed by the S&P 500 declining 0.49 percent, and the Dow Jones dipping 0.05 percent.

Indices aside, we name the 10 worst-performing companies on Tuesday and detail the reasons behind their drop.

To come up with the list, we only considered the stocks with a $2 billion market capitalization and 5 million shares in trading volume.

10. Zimmer Biomet Holdings Inc. (NYSE:ZBH)

Zimmer Biomet fell to a new 13-year low on Tuesday, slashing 10.53 percent to close at $82.84 apiece despite posting a strong earnings performance in the first quarter, as investors were rattled by the immediate departure of its chief finance officer (CFO).

In an updated report, Zimmer Biomet Holdings Inc. (NYSE:ZBH) announced that CFO Suketu Upadhyay stepped down from his post effective immediately to pursue a new professional opportunity.

Upadhyay will be temporarily replaced by incumbent Chief Accounting Officer Paul Stellato as the interim CFO, while Zimmer Biomet Holdings Inc. (NYSE:ZBH) conducts an internal and external search for a permanent replacement.

Zimmer Biomet Holdings Inc. (NYSE:ZBH) Chairman, President, and CEO Ivan Tornos briefly thanked Upadhyay’s stint over the past seven years.

”We are confident [Stellato] is the right leader to provide continuity and steady direction during this transition, as we continue to execute our strategy and deliver on our commitments,” he noted.

Upadhyay’s departure followed Zimmer Biomet Holdings Inc.’s (NYSE:ZBH) 30.8-percent net income jump in the first quarter of the year, at $238.1 million versus $182 million in the same period last year.

Net sales also increased by 9.3 percent to $2.09 billion from $1.909 billion year-on-year.

9. Qiagen NV (NYSE:QGEN)

Shares of Qiagen nosedived to a seven-year low on Tuesday, slashing 10.7 percent to close at $34.02 apiece, as investors soured on its lower growth outlook for the year following the impact of tensions in the Middle East.

In its preliminary results, Qiagen NV (NYSE:QGEN) said that it expects to report preliminary net sales of $492 million, up 2 percent on a reported basis and down 1 percent at constant exchange rates (CER) as compared with the 1 percent a year earlier.

Across its business, the company said that sales from its QuantiFERON blood test kit have dropped amid the decline in immigration testing demand in the US and the Middle East. Sales from QIAstat-Dx diagnostics also dipped 1 percent, as expected, amid tough results last year.

Following the trends, Qiagen NV (NYSE:QGEN) lowered its net sales growth outlook for full-year 2026 to a range of 1 to 2 percent, versus 5 percent previously, amid the lingering uncertainties in the Middle East. Adjusted EPS was also decreased to $2.43 from $2.50 prior.

For the second quarter alone, Qiagen NV (NYSE:QGEN) expects net sales to decline by 2 percent from $534 million in the same period a year earlier. Adjusted diluted EPS is targeted at $0.60, flat from the comparable period.

8. Alexandria Real Estate Equities Inc. (NYSE:ARE)

Alexandria Real Estate fell to a nearly 17-year low on Tuesday, shedding 11.30 percent to finish at $40.41 apiece, as investors took heart from an investment firm’s bearish stance for its stock despite posting strong earnings in the first quarter of the year.

In a market note, BNP Paribas downgraded its price target for Alexandria Real Estate Equities Inc. (NYSE:ARE) by 13.6 percent to $44 from $50 previously, while maintaining an “underperform” rating.

The coverage followed the drop in occupancy rates for the first quarter of the year, at 87.7 percent versus 91.7 percent in the same period last year.

However, profits remained strong, having swung to a $358.87 million net profit attributable to shareholders versus a loss attributable to shareholders of $11.6 million in the same quarter a year earlier, and the $1.08 billion loss the quarter prior.

For the full-year period, Alexandria Real Estate Equities Inc. (NYSE:ARE) lowered its occupancy rate outlook to a range of 86.2 percent to 87.8 percent, versus the 87.7 percent to 89.3 percent projected previously.

Net operating loss was also increased to a range of 8.5 percent to 10.5 percent from 7.5 percent to 9.5 percent prior.

7. Sportradar Group (NASDAQ:SRAD)

Sportradar fell to a new 52-week low on Tuesday, as investors took heart from its dismal earnings performance in the first quarter of the year, while digesting an investment firm’s 14.3-percent price target downgrade.

At intra-day trading, Sportradar Group (NASDAQ:SRAD) dropped to its lowest price of $11.66 before paring losses to finish the day just down by 11.41 percent at $12.35 apiece.

In a market note, Guggenheim Securities cut its price target to $30 from $35 previously, but maintained a “buy” recommendation, after Sportradar Group (NASDAQ:SRAD) missed revenue expectations.

Revenues ended at €347 million, higher by 11 percent than the €312 million year-on-year, but fell short of the €367 million estimates, amid player-friendly outcomes, timing of marketing campaigns, and headwinds related to foreign currency translations.

Meanwhile, adjusted EBITDA ended at €66 million, up 12 percent from the €59 million year-on-year, but also missed estimates of €68 million.

However, Sportradar Group (NASDAQ:SRAD) remained at an attributable net loss of €6.286 million, reversing a €24.2 million attributable net profit previously.

In other news, the company announced the appointment of Sameer Deen as chief operating officer, effective May 18, 2026.

It also reaffirmed its full-year 2026 growth outlook of €1.557 billion to €1.582 billion.

6. Relay Therapeutics Inc. (NASDAQ:RLAY)

Relay Therapeutics dropped for a second day on Tuesday, slashing 12.84 percent to finish at $13.03 apiece, as investors appeared to have taken profits after already jumping by 74 percent this month, thanks to positive data from its cancer treatment candidate, Zovegalisib.

On Monday, Relay Therapeutics Inc. (NASDAQ:RLAY) announced that it would officially kick off the third phase of its clinical study for zovegalisib in combination with atirmociclib—Pfizer’s investigational, potential first-in-class CDK4 inhibitor—to test their efficacy in treating patients with PI3Kα-mutated, HR+/HER2- metastatic breast cancer.

Zovegalisib is currently being evaluated in the ReDiscover trial, which aims to test the latter’s combination with fulvestrant and CDK inhibitors.

As of April 13, 69 total patients were enrolled, with 62 patients at or below the potential Phase 3 dose, and 34 patients with measurable disease evaluable for response.

Meanwhile, Relay Therapeutics Inc. (NASDAQ:RLAY) received bullish coverage from two analysts. Oppenheimer raised its price target to $18 from $14, while maintaining an outperform rating, while Citizens upgraded the stock to $19 from $17, while maintaining a market outperform rating.

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