ZillowNASDAQ: Z

SEATTLE, June 28, 2024 (GLOBE NEWSWIRE) -- Atossa Therapeutics, Inc. (Nasdaq: ATOS) (“Atossa” or the “Company”) today announced protocol changes in the previously initiated study to evaluate Atossa's proprietary (Z)-endoxifen in combination with abemaciclib (VERZENIO®), a cyclin-dependent kinase (CDK) 4/6 inhibitor marketed by Eli Lilly and Company. The study is investigating the combination as a neoadjuvant treatment in women with newly diagnosed Estrogen Receptor positive (ER+) / Human Epidermal Growth Factor Receptor 2 negative (HER2-) breast cancer. Atossa is a clinical stage biopharmaceutical company developing innovative medicines in areas of significant unmet medical need in oncology with a focus on breast cancer.

An insider just bought $100 million in stock.

This week, inflation data provided some encouraging signs. Both the Consumer Price Index (CPI) and Producer Price Index (PPI) came in lower than expected.

On June 12, 2024, Zillow Group, Inc. (NASDAQ:Z) experienced a significant surge in its stock price, closing up over 13%.

After a few months of stalemate between buyers and sellers, the U.S. real estate sector is finally looking to get back on its feet. With the Intercontinental Exchange reporting that most outstanding mortgages in the U.S. carry an interest rate of only 3.25% today, most homeowners don't have an incentive to put their homes on the market.

Zillow Group exceeded expectations in the first quarter of 2024, with revenue increasing by 13% to $529 million. The company's key drivers of growth include agent solutions, expansion into new markets, and a successful Rentals segment. While there are worries about a potential decrease in the Residential segment, Zillow Group remains optimistic about its promising growth prospects.

According to Zillow, the average rent in the US increased to nearly $2,000 per month in April. To afford the typical rent, tenants now need to earn 36% more than they did in 2019.

Zillow Group's stock has dropped nearly -20% since my initial coverage, validating my previous sell recommendation. Despite reaching a record high in 2021, the stock has since declined due to challenges posed by high interest rates. The company's strong rental performance could drive further growth. I am now upgrading Zillow Group to a buy rating with a price target of $45 for the next year.

Zillow has provided conservative guidance for the second quarter due to a decline in first-time homebuyer activity caused by rising interest rates. Zillow's CFO, Jeremy Hofmann, anticipates that the housing market will stay relatively stable in 2024, citing affordability as a persistent issue for potential homebuyers.