Starwood Property Trust (STWD) shares rose 1.8% in Tuesday trading after UBS upgraded the stock to buy from neutral and raised the price target to $20 from $19.50.
Trading volume stood at 2.5 million shares, compared with a daily average of about 3.1 million.
Price: $17.08, Change: $+0.28, Percent Change: +1.67%
Celcuity (CELC) said Tuesday that detailed results from the Phase 3 Viktoria-1 trial showed its investigational breast cancer treatment gedatolisib outperformed Novartis' (NVS) alpelisib plus fulvestrant in patients with hormone receptor-positive, HER2-negative, PIK3CA-mutated advanced breast cancer.Celcuity said the gedatolisib plus fulvestrant and palbociclib, or gedatolisib-triplet reduced the risk of disease progression or death by 50% compared with alpelisib plus fulvestrant, and nearly doubled median progression-free survival to 11.1 months from 5.6 months, while gedatolisib plus fulvestrant, or gedatolisib-doublet extended progression-free survival to 11.3 months, with objective response rates of 48.9% and 35.7%, respectively.The gedatolisib triplet and doublet regimens were generally well tolerated, with mostly low-grade treatment-related adverse events, while overall survival data, a key secondary endpoint, showed promising trends but remain immature. Celcuity plans to submit the data to the US Food and Drug Administration as a supplemental new drug application.Shares of Celcuity were down more than 25% in Tuesday trading.Price: $91.65, Change: $-31.31, Percent Change: -25.46%
Perplexity AI is building a software platform to distribute artificial intelligence workloads between personal computers and remote cloud servers, Chief Executive Officer Aravind Srinivas said in an interview with Bloomberg Tuesday.The routing system determines in real time whether processing tasks should execute locally or on cloud infrastructure to help lower overall computing expenses, Srinivas said in the interview.The startup introduced the technology at the Computex conference alongside Intel (INTC), though the platform remains hardware agnostic and supports processors from Nvidia (NVDA), Srinivas added.Price: $107.06, Change: $-2.27, Percent Change: -2.08%
Blackstone Mortgage Trust (BXMT) shares rose 2.4% on Tuesday after UBS upgraded the stock to buy from neutral and adjusted its price target to $21 per share from $20.Trading volume stood at around 990,000 shares compared with a daily average of nearly 1.5 million.Price: $18.37, Change: $+0.43, Percent Change: +2.43%