Why These 5 Stocks Are On the Move on Friday

In this article we take a look at five stocks on the move on Friday. If you want to read our detailed analysis of these stocks, go to read Why These 10 Stocks Are On the Move on Friday.

5. United States Steel Corporation (NYSE:X) is around 8% lower today after the company provided a third quarter  update. For Q3, United States Steel Corporation (NYSE:X) expects adjusted EBITDA of around $2 billion, versus adjusted EBITDA of around $1.3 billion for Q2. The company has also announced a exploratory site selection process to build a new state-of-the-art mini mill in the United States. The current estimated investment is approximately $3 billion.

Of the around 873 elite funds we track, 39 were long United States Steel Corporation (NYSE:X) in Q2, up from 22 in Q1.

4. Moderna, Inc. (NASDAQ: MRNA) is off around 6% due to the debate over the potential need for booster shots. Portfolio manager at Gabelli Funds Jeff Jonas said, “When (the stocks) ran up, I think it was expecting a booster shot to be given to everyone. Now I think it’s maybe a little less certain that that extra demand is going to be there.” Whether booster shots will be needed for everyone or just some people is still not clear. The change in demand could affect Moderna, Inc. (NASDAQ: MRNA)’s future results.

For the June 30, 2021 filing period, our data indicates that Philippe Laffont’s Coatue Management owned more than 6.14 million shares of Moderna, Inc. (NASDAQ: MRNA), up 389% from the prior period.

3. Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) has surged around 90% likely due to technical trading rather than any fundamental news. The number of smart funds that we track that owned Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) in the second quarter of 2021 rose by 1 from the prior quarter to 12 total.

2. Upstart Holdings, Inc. (NASDAQ: UPST) has rallied almost 4% after JMP Securities raised its price target to $327 from $205. 21 top funds we track reported owning shares of Upstart Holdings, Inc. (NASDAQ: UPST) in the latest 13F filing period. That’s up from 13 in the prior 13F filing period.

1. Apollo Medical Holdings, Inc. (NASDAQ:AMEH) is around 3% higher due to technical trading despite there being no company specific news. 7 top funds we track owned around $20.97 million worth of Apollo Medical Holdings, Inc. (NASDAQ:AMEH) as of June 30, 2021. Jim Simons‘ Renaissance Technologies also owned around 58,700 shares for the June 30, 2021 filing period.

Disclosure: None.