Midday trading today saw significant movements in the stock market, with several companies experiencing notable shifts in their share prices.
Ultragenyx Pharmaceutical’s stock plummeted over 40% after the company disclosed disappointing results from its trials for setrusumab, a bone disease drug. According to the firm’s announcement, both trials failed to meet their primary endpoint, which was the reduction in annualized clinical fracture rates compared to placebo and bisphosphonates.
Meanwhile, shares of major mining companies took a hit as gold and silver prices declined. Newmont’s stock dropped more than 5%, while Freeport-McMoRan slid 2%. The Global X Silver Miners ETF (SIL) also fell by over 4%. This downturn followed a brief surge in silver prices, which had exceeded $80 per ounce in overnight trading before experiencing a steep drop of more than 7% on Monday. Gold prices mirrored this trend, decreasing over 4%.
In contrast, energy stocks witnessed a rise in value as oil prices climbed more than 2%. This increase was fueled by investor optimism regarding potential peace talks in Ukraine and concerns over possible supply disruptions in the Middle East. Companies such as Diamondback Energy and Devon Energy saw their shares increase by nearly 2%, making the energy sector the top gainer in the S&P 500 index.
DigitalBridge, a private equity firm specializing in data centers and other assets, surged 10% following news that Japan’s SoftBank had entered an agreement to acquire the company for $4 billion.
Chipmaker Nvidia experienced a nearly 2% decline, retracing some of last week’s gains after its substantial acquisition of AI chip startup Groq’s assets for approximately $20 billion. This deal marked Nvidia’s largest acquisition to date, although the stock had previously risen 5.3% last week.
Praxis Precision Medicines saw a notable increase, with shares rising 13% after BTIG identified it as a top pick for 2026. The firm raised its price target for the company from $507 to $843, suggesting a potential upside of more than 213%.
On the other hand, AXT’s stock fell almost 4% following the announcement of a new public offering of over 7 million shares priced at $12.25 each, totaling approximately $87 million.
This midday overview reflects a volatile trading environment, with specific sectors facing varied fortunes based on company revelations and market dynamics.
