Wedbush Securities downgraded Replimune Group (REPL) to neutral from outperform, while adjusting its price target to $4 from $19.

Replimune could need a "significant restructuring" in the near term to accommodate changes to the study of RP1 in combination with nivolumab in advanced melanoma, Wedbush said in a note Tuesday.

Shares of Replimune sank 76% following an increase in intraday trading volume to over 65.6 million from a daily average of about 1.57 million.

ProMIS Neurosciences (PMN) said Tuesday that it signed an agreement with an existing institutional investor to issue and sell about $2.4 million of warrants.

The warrants were sold at $0.1875 a piece through a private investment in public equity financing.

Shares of ProMIS dropped about 26% as more than 13.2 million shares traded intraday, versus a daily average of about 6.5 million.

Lockheed Martin (LMT) stock dropped 8.5% amid heavy trading after the company posted a decline in fiscal Q2 earnings and cut its 2025 earnings guidance.

More than 5.95 million shares traded intraday, compared with a daily average of about 1.43 million.

Price: 2.97, Change: -9.36, Percent Change: -75.90