108.83 0.00 (0.00%)
After hours: 5:01PM EDT
|Bid||106.13 x 1000|
|Ask||109.74 x 1100|
|Day's Range||104.49 - 109.30|
|52 Week Range||65.81 - 134.51|
|Beta (5Y Monthly)||2.22|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 28, 2020 - May 03, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||141.45|
Drugmakers have the scientists, the expertise, and the laboratories. Should they be doing nothing else but focusing on halting the coronavirus?
Pfizer stock could see some gains in 2020 if it makes progress on a coronavirus vaccine with BioNTech. But its Upjohn merger with Mylan is now delayed. Is Pfizer stock a buy now?
Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, and Gen, a GMP-certified pharmaceutical company specializing in rare diseases, today announced an exclusive Distribution Agreement for ONPATTRO®, a first-in-class RNAi therapeutic for the treatment of hATTR amyloidosis in adults with Stage 1 or Stage 2 polyneuropathy.
The COVID-19 virus is causing an array of short-term problems that biotechs are rushing to address — such as the loss of their work — as well as long-term uncertainties, particularly for young companies in need of capital.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
The Zacks Analyst Blog Highlights: Moderna, Inovio Pharmaceuticals, Vir Biotechnology and Alnylam Pharmaceuticals
Alnylam (ALNY) expands its collaboration pact with Vir Biotechnology to develop RNAi therapeutics targeting SARS-CoV-2, the virus that induces Covid-19. Stock gains.
Alnylam Pharmaceuticals and Vir Biotechnology are teaming up to tackle forms of coronavirus, including Covid-19, the biotech companies said Wednesday. Shares of both jumped in early action.
As Americans become more concerned about the possibility of COVID-19 infections in their communities, a number of drugmakers have jumped into the ring, announcing new plans to develop vaccines or treatments for the novel coronavirus.
After more than a month of covert work, the Cambridge biotech disclosed Wednesday that it's developing a coronavirus treatment with a California biotech startup.
The biotech sector was in focus with new drug approvals, acquisitions and regular pipeline updates from quite a few companies.
Alnylam's (ALNY) second RNAi-based therapeutics, Givlaari receives approval in Europe for treating acute hepatic porphyria, becoming the first and only approved therapy for the indication.
Vir Biotechnology Inc (NASDAQ: VIR) is stepping up its COVID-19 fighting efforts and the quest has rewarded its shareholders.Adding to its existing efforts, Vir announced Wednesday it has expanded its existing collaboration agreement with Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY), a pioneer in a therapeutic area called RNA interference, to develop treatments for COVID-19. The companies have agreed to use Alnylam's recent advances in lung delivery of novel conjugates of siRNA and Vir's infectious disease expertise to develop one or some siRNAs to treat COVID-19 and other coronaviruses as well.Alnylam said it has designed over 350 siRNAs, targeting genomes of SARS-CoV and SARS-CoV-2. It expects to screen these in lab to zero in on potential siRNA lead candidates, which in turn will be evaluated by scientists at Vir, both in lab and animal models before a development candidate is selected.Vir will be in charge of all development and commercialization, and at the proof-of-concept stage, Alnylam has an option to equally share in profits and losses associated with the development and commercialization.Instead, Alnylam may choose to earn development and commercialization milestones and royalties on net product sales.See Also: Attention Biotech Investors: Mark Your Calendar For These March PDUFA Dates"We believe RNAi therapeutics represent a promising approach for targeting coronaviruses, like SARS-CoV-2. As the leader in RNAi therapeutics, we at Alnylam are committed to doing our part in joining other biopharmaceutical companies, like Vir, to address this emerging outbreak," said Alnylam CEO John Maraganore.The two companies have an ongoing collaboration for developing RNAi therapeutic candidate VIR-2218 for chronic hepatitis B infection, with the candidate currently being evaluated in a Phase 1/2 study.Vir is already working with WuXi Biologics for a COVID-19 treatment. The company has identified a number of monoclonal antibodies that bind to COVID-19 and is conducting research to determine if these can be effective as treatment and/or prophylaxis against the virus.In pre-market trading Wednesday, Vir share were rallying 11.18% to $45.55 and Alnylam was edging up 2.76% to $114.50.See more from Benzinga * The Daily Biotech Pulse: Takeda Jumps Into The COVID-19 Fray, Exact Sciences Buys Cancer Diagnostics Companies * The Daily Biotech Pulse: GenMark Diagnostics Ships COVID-19 Test Kits, Karyopharm To Offer Shares, And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga Pro's Stocks To Watch For Wednesday * Nordstrom (JWN) \- Shares were down about 7% following a Q4 earnings and sales miss. FY20 guidance was toward the lower end of the analyst consensus estimate range. * Vir Biotech (VIR) \- Reported an expanded collaboration with Alnylam Pharma (ALNY) to advance RNAi therapeutics for the treatment of coronavirus infection. The stock was up 15%; Alnylam shares were quiet pre market. * Chipotle Mexican Grill (CMG) \- Wells Fargo upgraded the stock to Overweight and set a $1,000 price target on shares, a level which represented about 32% upside from where shares traded Wednesday morning. Chipotle announced late Tuesday it will report quarterly results on April 21, 2020. * Allied Healthcare Products (AHPI) \- Traders took profit Wednesday morning following an 80% rally in the stock over just the last five trading sessions. As the company manufactures emergency medical supplies and respiratory devices, traders have been using the stock as a play on continued concerns about the coronavirus outbreak. Shares were down 22% ahead of the opening bell. * GenMark Diagnostics (GNMK) \- The stock rallied 22% on Tuesday following a press release from the company which disclosed initial shipments of ePlex research-use only test kits designed for coronavirus. The release did not disclose any figures related to the number of devices shipped. Shares continued higher Wednesday morning, up about 8%. See more from Benzinga * Benzinga Pro's Top 5 Stocks To Watch For Thurs., Jan. 23, 2020: CODX, LUV, INTC, PAYC, EPZM(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Here's a roundup of top developments in the biotech space over the last 24 hours.Scaling The Peaks (Biotech Stocks Hitting 52-week highs on March 3) * Acceleron Pharma Inc (NASDAQ: XLRN) * BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) * Fate Therapeutics Inc (NASDAQ: FATE) (reacted to its fourth-quarter results) * Forty Seven Inc (NASDAQ: FTSV) * IGM Biosciences Inc (NASDAQ: IGMS) * Inovio Pharmaceuticals Inc (NASDAQ: INO)( announced an accelerated timeline for COVID-19 vaccine development) * Repro-Med Systems, Inc. (NASDAQ: KRMD) * SpringWorks Therapeutics Inc (NASDAQ: SWTX) * Zynex Inc. (NASDAQ: ZYXI)Down In The Dumps (Biotech Stocks Hitting 52-week lows on March 3) * ADDEX THERAPEUT/ADR (NASDAQ: ADXN) * Akorn, Inc. (NASDAQ: AKRX) * Aldeyra Therapeutics Inc (NASDAQ: ALDX) * ANI Pharmaceuticals Inc (NASDAQ: ANIP) * Evolus Inc (NASDAQ: EOLS) * EXACT Sciences Corporation (NASDAQ: EXAS) * HTG Molecular Diagnostics Inc (NASDAQ: HTGM) * Midatech Pharma PLC-ADR (NASDAQ: MTP)(began trading on a reverse split adjusted basis) * Mylan NV (NASDAQ: MYL) * Neuronetics Inc (NASDAQ: STIM)(announced its fourth-quarter results) * Passage Bio Inc (NASDAQ: PASG)(IPOed last week) * STRATA Skin Sciences Inc (NASDAQ: SSKN) * SurModics, Inc. (NASDAQ: SRDX) * Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH) * TransMedics Group Inc (NASDAQ: TMDX)(reported its fourth-quarter results) * VIVUS, Inc. (NASDAQ: VVUS) * Xeris Pharmaceuticals Inc (NASDAQ: XERS)See Also: Attention Biotech Investors: Mark Your Calendar For These March PDUFA DatesStocks In Focus Takeda To Develop COVID-19 Treatments Takeda Pharmaceutical Co Ltd (NYSE: TAK) said it is initiating the development of an anti-SARS-CoV-2 polyclonal hyperimmune globulin to treat high-risk individuals with the viral infection. Hyperimmune globulins are plasma-derived therapies that had previously proven its efficacy in treating severe acute viral respiratory infections.The company added it is also studying its currently marketed and pipeline products to see whether they are effective treatments for infected patients.Separately, the company said it has completed its previously announced sale of portfolio of select products to STADA for $660 million.In pre-market trading Wednesday, Takeda shares were adding 3.94% to $18.20.Vir, Alnylam Expands Collaboration To Develop siRNA Therapies For COVID-19 Vir Biotechnology Inc (NASDAQ: VIR) and Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) announced an expansion to their existing collaboration to include the development and commercialization of RNAi therapeutics against COVID-19. The agreement provides for Vir using Alnylam's recent advances in lung delivery of novel conjugates of siRNA along with its infectious disease expertise to develop one or some siRNAs to treat COVID-19 and other coronaviruses as well.In premarket trading Wednesday, Vir share were rallying 14.72% to $47 and Alnylam was edging up 0.41% to $111.88.Mallinckrodt Reports Positive Outcome Analysis of Acthar Gel In Immune-mediated Diseases Mallinckrodt PLC (NYSE: MNK) announced findings from a retrospective medical record analysis, which assessed practice patterns and outcomes of Acthar Gel in the treatment of immune-mediated diseases rheumatoid arthritis, systemic lupus erythematosus and dermatomyositis/polymyositis, which showed across all the three patient populations, symptoms improved with Acthar Gel.In premarket trading Wednesday, the shares were advancing 7.99% $3.38.Acadia's Rett Syndrome Investigational Drug Gets Rare Pediatric Designation ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) and Neuren Pharma said the FDA has granted Rare Pediatric Disease designation to trofinetide for the treatment of Rett syndrome, a serious and rare neurological disorder.Upon approval of a product with the designation, the sponsor is eligible to receive a Priority Review Voucher, which can be used to obtain FDA approval of an NDA for another product in an expedited period of six months.Acadia shares were up 2.41% to $42.99 in after-hours trading.Morphosys' Licensing Agreement With Incyte For Lymphoma Drug Gets Antitrust Clearance Morphosys Ag (NASDAQ: MOR) and Incyte Corporation (NASDAQ: INCY) said their joint collaboration and license agreement for further development and global commercialization of Morphosys' investigational compound tafasitamab has received antitrust clearance and becomes effective Tuesday.The regulatory milestone triggers a $750 million upfront payment by Incyte to Morphosys, and also Incyte's equity investment of $150 million into MorphoSys within the defined timelines.The PDUFA date for the BLA for tafasitamab in combination with lenalidomide for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma is Aug. 30.Ultragenyx CFO To Step Down Ultragenyx Pharmaceutical Inc (NASDAQ: RARE) said Shalini Sharp will step down as CFO and EVP, effective Sept. 2. The company said it will initiate a search for a successor.Exact Sciences Buys Two Cancer Diagnostics Companies Exact Sciences said it has completed its acquisition of Paradigm Diagnostics and Viomics, two privately held companies, which provide a differentiated late-stage therapy selection test and deep competencies in sequencing and biomarker discovery.View more earnings on TAKThe company expects the acquisition to extend its lab testing and research and development capabilities.J&J Makes Regulatory Submission For Approval of Multiple Sclerosis Drug In Europe Johnson & Johnson's (NYSE: JNJ) Janssen unit announced it submitted a Marketing Authorization Application to EMA, seeking approval for ponesimod for the treatment of adult patients with relapsing multiple sclerosis.Earnings DURECT Corporation (NASDAQ: DRRX) reported fourth-quarter net revenues of $10.69 million compared to $3.63 million last year. The net loss per share narrowed from 5 cents to 2 cents, in line with the consensus estimate.The stock jumped 12.21% to $1.93 in after-hours trading.Menlo Therapeutics Inc's (NASDAQ: MNLO), which has agreed to be bought by Foamix Pharmaceuticals Ltd (NASDAQ: FOMX), reported a wider loss of 89 cents per share compared to the year-ago loss of 76 cents per share and the consensus loss estimate of 83 cents per share.Updating on the pending merger, Menlo said it expects it to close March 9.The stock jumped 23.64% to $3.40 in after-hours trading.Voyager Therapeutics Inc (NASDAQ: VYGR) reported fourth quarter revenues of $32.67 million compared to $2.01 million a year ago. The net loss per share narrowed from 77 cents to 34 cents. Analysts had estimated a loss of 81 cents per share. The company said it expects its cash reserves as well as receivables to be sufficient to meet its projected operating expenses and capex into mid-2022.The stock gained 6.22% to $12.30 in after-hours trading.Vivus reported fourth-quarter total revenues of $17.25 million and a loss of 61 cents per share, narrower than the 68 cents per share loss expected by analysts.The stock rose 8.98% to $1.82 in after-hours trading.Offerings Zogenix, Inc. (NASDAQ: ZGNX) said it has priced its underwritten public offering of 8.52 million shares at $23.50 per share. The company expects to raise gross proceeds of $200.2 million from the offering. The offering is expected to close on or about March 6.The company said it expects to use the net proceeds for the potential commercialization of Fintepla for the treatment of Dravet syndrome, among other things.The stock fell 3.69% to $24 in after-hours trading.On The Radar Earnings * AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) (before the market open) * Recro Pharma Inc (NASDAQ: REPH) (before the market open) * PPD Inc (NASDAQ: PPD) (before the market open) * Axonics Modulation Technologies Inc (NASDAQ: AXNX) (after the close) * Orthopediatrics Corp (NASDAQ: KIDS) (after the close) * Opiant Pharmaceuticals Inc (NASDAQ: OPNT) (after the close)See more from Benzinga * The Daily Biotech Pulse: GenMark Diagnostics Ships COVID-19 Test Kits, Karyopharm To Offer Shares, And More * The Daily Biotech Pulse: Sangamo In Genome-Editing Therapy Deal With Biogen, FDA Nod For Biohaven, Passage Bio IPO(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Vir Biotechnology Inc. shares rose 13% in premarket trade Wednesday, after the company said it is expanding its collaboration with Alnylam Pharmaceuticals Inc. to advance RNAi Therapeutics for the treatment of the coronavirus. "Recent Alnylam advances in lung delivery technology suggest possible utility of siRNAs in targeting SARS-CoV-2 and other coronaviruses," the companies said in a joint statement. Vir will lead the development of potential candidates, while Alnylam will retain the option to share equally in profits or losses associated with the development of the program. The company already have a licensing agreement and will now develop up to six novel siRNAs to treat infectious diseases. RNAi is a natural cellular mechanism that can be harnessed to develop medicines, including anti-viral therapies. Alnylam shares rose 3.6% premarket.
Vir Biotechnology, Inc. (Nasdaq: VIR) and Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY) today announced an expansion of their existing collaboration to include the development and commercialization of RNAi therapeutics targeting SARS-CoV-2, the virus that causes the disease COVID-19. Under the agreement, the companies will utilize Alnylam’s recent advances in lung delivery of novel conjugates of siRNA – the molecules that mediate RNAi – together with Vir’s infectious disease expertise and established capabilities, to bring forward one or more siRNAs to treat SARS-CoV-2 and potentially other coronaviruses as well. The collaboration will focus on development of siRNAs that Alnylam recently identified that target highly conserved regions of coronavirus RNAs.
Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, today announced that the European Commission (EC) has granted marketing authorization for GIVLAARI® (givosiran), an injection for subcutaneous use targeting aminolevulinic acid synthase 1 (ALAS1) for the treatment of acute hepatic porphyria (AHP) in adults and adolescents aged 12 years and older. AHP is an ultra-rare condition in which patients can experience debilitating attacks of severe abdominal pain, vomiting and seizures, which can be life-threatening due to the possibility of paralysis and respiratory arrest during attacks. Many patients also experience chronic symptoms, including pain, which continue to be present between attacks.
Markets are plunging, taking a serious hit as the coronavirus spreads rapidly throughout the world. So far, the worst of the outbreak is in China, but large-scale viral cases are on the rise in Italy, Iran, and South Korea. Medical restrictions and quarantines are disrupting global trade and travel patterns, with shutdowns in Chinese factories impacting global supply chains in everything from electronics to the containerized shipping industry. The S&P 500 is down 12.8% from its peak on February 19, completely erasing earlier gains and putting the index at an 8.6% loss for the year to date.But as per usual in the stock markets, risky times also present opportunity for daring investors – and while the market as an aggregate is falling, any one stock’s individual performance may be very different. In short, a savvy investor can find stocks with serious growth potential, even in today’s market conditions.We’ve used TipRanks’ Stock Screener tool to pull up some stocks with serious growth prospects. Setting the filters to show us only mid- to large-cap stocks, with upwards of 20% upside potential, 6,100 stocks were reduced to a far more manageable 293. Let’s dive in and examine three of them in detail.Copart, Inc. (CPRT)We’ll start with Copart, the online automotive auction site. The Texas-based company boasts a global reach, with services in the US and Canada, UK and Ireland, Germany, Spain, and the UAE. The company offers services to sellers looking to unload used and salvaged vehicles, primarily in the dismantling, parts, and export markets. A limited number of vehicles are sold as used cars for the general public, but most of Copart’s customers are insurance companies.No matter what the stock market does, there will always be a market for used auto parts. That basic fact is reflected in Copart’s success. In the company’s most recent fiscal quarter, Q2 2020, reported last month, CPRT beat the forecasts and the year-over-year numbers, but the margins were narrow. Revenues came in at $575.1 million, up 18.6% year-over-year but only half a percent over estimates. EPS landed at 65 cents, right on the forecast.The earnings result for Q2 was the sixth in a row that the company met or surpassed the expectation, but shares slipped on an ominous sign: EPS growth was flat from Q1 to Q2. CPRT is down 19% since the quarterly report. It’s important to note here, however, that the quarterly earnings came out on February 19, the same day that markets started sliding on coronavirus fears.The combination of a general market slump and apparently slowing sales put a damper on the stock’s recent gains, but an important – and overlooked – point in today’s automotive market bodes well for CPRT. In the past 40 years, the rate at which cars are declared a ‘total loss’ after an accident has increased from 4% to 20%. At the same time, the number of cars on the road has increased dramatically. This puts a much larger population of sellable vehicles in Copart’s universe.At least one analyst sees CPRT’s current state as a good point of entry to the stock for investors. Craig Kennison, of Baird, writes, “Copart's earnings and revenues fell short of expectations and the modest slowdown was sufficient to break the momentum in the shares. We remain bullish on the shares as the fundamentals remain.”Along with his Buy rating, Kennison increased his price target on the stock by 4%, to $100. His new target suggests an upside potential of 18%. (To watch Kennison’s track record, click here)Overall, CPRT’s Strong Buy consensus rating is based on 3 Buys and 1 Hold, all set in the last two weeks. Shares are selling for $84.47, and the $106.33 average target price implies an upside growth potential of 26%. (See Copart stock analysis on TipRanks) Alnylam Pharmaceuticals, Inc. (ALNY)Next on our list is Alnylam, a biotech research company focused on RNAi commercialization for the treatment of genetic diseases. Biotechs are famously volatile, and companies are notorious for running steep losses until striking gold with a new drug approval. Alnylam falls squarely into that pattern, with the EPS loss at $2.47 in Q4 2019.Revenues, however, were up, coming in at $71.7 million. This beat the forecast by just under 1%. ALNY shares are up 46% in the past six months. The company has two drugs on the market, Onpattro and Givlaari, approved in 2018 and 2019, respectively, and reports growing sales revenues on both. Alnylam reported $55.8 million in Onpattro revenue for Q4 (up 21% from Q3), along with solid initial interest in Gilvaari. With another eight drugs in various stages of pipeline development, Alnylam has a firm foundation for future prospects.Chardan Capital analyst Keay Nakae is impressed by the growth potential here. He writes, “We believe that Alnylam is the clear leader in the RNAi space, as its scale, experience, patents, breadth of pipeline, and access to capital place it in an advantageous position relative to its competitors developing small RNA therapeutics. The Company's RNAi platform has been validated by the approval of two products (Onpattro and Givlarri), multiple positive phase III study results, including six last year…”Nakae puts a $190 price target behind his Buy rating, indicating confidence in a robust growth potential of 61% for the coming year. (To watch Nakae’s track record, click here)Alnylam has no fewer than 10 Buy ratings, outweighing the 1 Hold and 1 Sell as well as giving the stock a Strong Buy consensus rating. The average price target of $143.08 suggests a premium of 22% from the current share price of $117.55. (See Alnylam stock analysis on TipRanks) Anaplan, Inc. (PLAN)Anaplan is another company that had the bad fortune of reporting solid Q4 numbers just as the market hit a correction. The San Francisco-based company inhabits the cloud software ecosystem, offering customers event planning applications for business use. With the company’s platform, users can build and maintain strategic and operational business performance management systems.Like many high-tech companies, PLAN has been operating at a net loss, but the Q4 numbers showed the loss is narrowing. In non-GAAP reporting, PLAN posted a loss of 7 cents per share, comparing favorably to the 13-cent loss one year earlier. At the same time, total revenue rose by 42% to reach $98.2 million – that number included a 50% year-over-year increase in subscription revenue to $89.5 million.Writing from RBC Capital, 5-star analyst Alex Zukin says of this company, “We believe Anaplan is at the tip of the spear for digital transformation of financial and operational planning systems, a $21 billion-plus market with high barriers to entry and no pure-play competitors... With the company steadily building a broader strategic value proposition as a ‘System of Insights’ that can pull operational data from various systems of record we see the opportunity for the company to successfully scale to billions in revenue…”Zukin backs his Buy rating on the stock with a $75 price target, implying room for an impressive 67% upside growth this year. (To watch Zukin’s track record, click here)Zukin’s optimism is slightly higher than the consensus view of this stock. PLAN shares have a Strong Buy consensus rating, based on 4 Buys and 1 Hold set in recent weeks. The stock is selling for $44.88, and the average price target, $66.20, suggests a robust 48% upside potential. (See Anaplan price targets and analyst ratings on TipRanks)
John Maraganore has been the CEO of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) since 2002. This report will, first...
Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, announced the appointment of Dr. Olivier Brandicourt to its Board of Directors effective March 2, 2020. Dr. Brandicourt served as Chief Executive Officer and a member of the Board of Directors of Sanofi from 2015 to 2019. Prior to that he was CEO and chair of Bayer HealthCare from 2013 to 2015, and spent 13 years at Pfizer, including as a member of its Executive Leadership Team and President and General Manager of the Emerging Markets and Established Products business units, amongst other roles.
Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, today announced that the Brazilian Health Regulatory Agency (ANVISA) has approved ONPATTRO® (patisiran) for the treatment of hereditary transthyretin-mediated (hATTR) amyloidosis in adults with stage 1 or stage 2 polyneuropathy. hATTR amyloidosis is a rare, progressive condition that is considered endemic in Brazil, affecting more than 5,000 people.i Based on Nobel Prize-winning science, ONPATTRO is the first approved RNAi therapeutic in Latin America and will be the first Alnylam product launched and marketed in the region.
Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, announced today that management will present company overviews at the following conferences:
Public companies in Massachusetts lost about $33 billion in market value on Monday as the markets saw the worst day in two years. The S&P 500 fell 3.4%, the worst one-day decline for the stock index since February 2018, fueled mostly by fears that the spread of coronavirus is not as well-contained as investors previously had thought. Meanwhile, the Nasdaq Composite index lost 3.7% and the Dow Jones Industrial Average shed more than 1,000 points to close the day 3.6% lower.