Catalent Inc (CTLT)

Catalent, Inc. Stock (CTLT) dropped by 13.85% from $39.92 to $34.39 in the trading on Tuesday October 31, 2023. The reason why CTLT stock down today include:

• Delaying financial results: Catalent announced to release its preliminary first-quarter numbers on November 15. Catalent is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2023.
• Sarepta's disappointing data: Sarepta's Phase 3 EMBARK confirmatory trial for Elevidys, an FDA-approved therapy for Duchenne muscular dystrophy (DMD), failed to meet the main goal. Catalent, Sarepta's manufacturing partner for Elevidys, has suffered the loss from this announcement.

Catalent (CTLT) shares sank as the contract drug manufacturer delayed releasing its financial report and warned that it anticipates "significantly" reducing its full-year outlook.

https://simplywall.st/stocks/us/pharmaceuticals-biotech/nyse-mtd/mettler-toledo-international/health?fbclid=IwAR3RCvD3eFiaFMrBzRqLHGPGhk3F3Ss-JbrwaBDx4sc-hDJ4bEoBuCA-wd8

Catalent (CTLT -7.37%) stock continued its streak of declines on Tuesday, losing over 7% of its value despite the S&P 500 index trading flat. This latest slide seems to have been caused by a pair of analysts who lowered their price targets. Catalent is a contract drug manufacturer.

https://www.fool.com/investing/2023/04/18/why-catalent-stock-dove-more-than-7-today/