Here are this week's downgrades to Strong Sell as determined by the POWR Ratings algorithm.

• Wynn Resorts (WYNN) - a developer and operator of hotels and casinos, including Wynn Las Vegas, Encore Boston Harbor, Wynn Macau and Wynn Palace, Cotai
• Cassava Sciences (SAVA) - a clinical-stage biotechnology company focused on Alzheimer's disease whose lead drug candidate Simufilam is undergoing Phase 3 studies
  
• Affirm Holdings (AFRM) - operator of a payment network that it says "empowers consumers and helps merchants drive growth"
  
• 3D Systems (DDD) - brands itself as "the leading additive manufacturing solutions partner" that offers hardware, software, materials, and services to address applications in markets such as medical and dental, aerospace & defense, automotive and durable goods
  
• Freyr Battery (FREY) - a developer of next-generation battery cell production capacity which has commenced building the first of its planned factories in Norway and announced potential development of industrial scale battery cell production in Finland and the U.S.
  
• Indie Semiconductor (INDI)- an approved vendor to Tier 1 auto partners and "autotech solutions innovator" that markets next-generation automotive semiconductors and software platforms
  
• NuScale Power (SMR) - a developer of small modular reactor, or SMR, nuclear technology that markets the NuScale Power Module pressurized water reactor and VOYGR series power plants
  
• GameStop (GME) - a video game retail store operator that brands itself as "a multi-brand network" whose goal is "to deliver games to our customers anytime, anywhere and on any device"
  
• Beam Therapeutics (BEAM) - a biotechnology company with a proprietary base editing technology for precision genetic medicines that seeks to provide "life-long cures to patients suffering from serious diseases"
  
• Inhibrx (INBX) - a clinical-stage biopharmaceutical company dedicated to the development of therapeutics for oncology and rare diseases
  
• Archaea Energy (LFG) - a renewable natural gas, or RNG, company that partners with landfill and farm owners to help them transform potential sources of emissions into RNG, in order to "transform their facilities into renewable energy centers"
  
• monday.com (MNDY) - operator of a "work operating system" platform, Work OS, that enables organizations to build work management tools and software applications
  
• Oatly (OTLY) - a maker of oat-based products that identifies itself as the "original and largest oat drink company"
  
• Zentalis Pharmaceuticals (ZNTL) - a clinical-stage biopharmaceutical company focused on small molecule therapeutics targeting fundamental biological pathways of cancers
  
• ACV (ACVA) - a provider of a digital marketplace for wholesale vehicle transactions and data services
  
• Celldex Therapeutics (CLDX) - a clinical stage biotechnology company whose pipeline includes antibody-based therapeutics with the ability to engage the human immune system and/or directly affect critical pathways in patients with inflammatory diseases and many forms of cancer
  
• PureCycle Technologies (PCT) - a U.S.-based company that holds a global license for a solvent-driven purification recycling technology designed to transform polypropylene plastic waste into a continuously renewable resource
  
• Unity (U) - a platform for creating and operating interactive, real-time 3D content
  
• Bilibili (BILI) - operator of a video community for young generations in China
  
• Royal Caribbean Group (RCL) - a cruise company with a global fleet of 64 ships that owns and operates its flagship brand as well as Celebrity Cruises and Silversea Cruises
  
• Compass (COMP) - a technology-enabled residential real estate brokerage that identifies itself as "the largest residential real estate brokerage in the United States"
  
• New York Mortgage Trust (NYMT) - an internally managed real estate investment trust, or "REIT," in the business of acquiring, investing in, financing and managing primarily mortgage-related single-family and multi-family residential assets, including joint venture equity investments in multi-family apartment communities
  
• Warby Parker (WRBY) - a direct-to-consumer lifestyle brand that designs products and develops technologies that help people see, including prescription glasses and contacts
  
• Canopy Growth (CGC) - a diversified cannabis and cannabinoid-based consumer product company
  
• Planet Labs PBC (PL) - a provider of satellite imagery and geospatial solutions that designs, builds, and operates what it touts as "the largest Earth observation fleet of imaging satellites"
  
• Paysafe (PSFE) - operator of a specialized payments platform geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments
  

Learn more about the POWR Ratings

Recent news on these stocks:

November 18

Cassava Sciences announced that it has entered into a definitive agreement with several healthcare-focused and other institutional investors for the purchase of 1,666,667 shares of its common stock, at a purchase price of $30 per share, for gross proceeds of approximately $50M, in a registered direct offering. The closing of the offering is expected to occur on or about November 22, subject to the satisfaction of customary closing conditions. H.C. Wainwright is acting as the exclusive placement agent for the offering. Cassava Sciences intends to use the net proceeds from this offering for working capital and general corporate purposes, including development of simufilam, the company's lead drug candidate for the treatment of Alzheimer's disease.

November 17

Stifel analyst J. Parker Lane raised the firm's price target on Unity to $40 from $30 and keeps a Buy rating on the shares after visiting the company's headquarters for a product demo and investor meetings with CFO Luis Visoso. 2023 is likely to be a year that faces headwinds related to the macro, but industry trends and the company's leading Create platform support long-term growth at a more profitable level, the analyst contends following the headquarters visit.

Indie Semiconductor announced the pricing of its offering of $140M aggregate principal amount of its 4.500% Convertible Senior Notes due 2027 through a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended. "The offering was multiple times oversubscribed but only slightly upsized from the originally announced $125 million in aggregate principal amount to accommodate long-term oriented investor demand. indie has also granted the initial purchasers in the offering an option to purchase, exercisable within the 30-day period immediately following the pricing date of the offering, up to an additional $20 million aggregate principal amount of notes. Purchasers of the notes included funds or accounts managed by Soros Fund Management LLC, Lord Abbett, and Polar Capital. The offering is expected to close on November 21," the company stated.

Credit Suisse analyst Benjamin Chaiken double downgraded Norwegian Cruise Line (NCLH) to Underperform from Outperform with a price target of $14, down from $20. The analyst sees downside risk to estimates and now prefers shares of Royal Caribbean (RCL). Norwegian's fiscal 2023 EBITDA guidance is at risk from higher than expected costs and the stock's valuation premium compared to peers is likely to prove "unsustainable," Chaiken tells investors in a research note. I the company does hit its guidance, it would be reasonable to assume that the whole industry would be doing well and would imply more equity upside for Royal Caribbean and Carnival (CCL), says the analyst.

November 16

RBC Capital analyst Nik Modi lowered the firm's price target on Oatly Group to $7 from $8 after its wider than expected Q3 earnings miss but keeps an Outperform rating on the shares. The company's organic growth and margin results were significantly impacted by a slew of various operating challenges, reflecting the current operating environment, the analyst tells investors in a research note. Modi adds that he views Oatly's more recent tone to focus on achieving profitability and switching focus to hybrid production makes better sense than pursuing topline growth at all cost, though he also prefers to see more details on that plan soon.

Inhibrx announced updated efficacy and safety data from the ongoing Phase 1 INBRX-109 expansion cohorts for the treatment of chondrosarcoma. Inhibrx presented data matured data on the original chondrosarcoma cohort and initial data from an additional cohort of chondrosarcoma patients with the isocitrate dehydrogenase mutation. Among the 33 patients evaluable as of November 8, the observed disease control rate was 87.9%, or 29 out of 33 patients, with two patients achieving partial responses - 6.1% - and 27 patients achieving stable disease - 81.8% -. Disease control was observed in patients with and without IDH1/IDH2 mutations. Of those achieving stable disease 55.6% had decreases from baseline in tumor size. Clinical benefit was durable, 14 of 33 patients - 42.4% - who achieved disease control had a clinical benefit lasting greater than 6 months, and the longest duration of stable disease is 20 months. To date, the median progression-free survival is 7.6 months, and five patients remain on study. Treatment-related adverse events were reported in less than 5% of the patients with the most common being increased alanine aminotransferase, increased aspartate aminotransferase and increased blood bilirubin and fatigue. There were no grade 4 or 5 events reported among patients with treatment-related AEs.

B. Riley analyst Mayank Mamtani downgraded Cassava Sciences to Neutral from Buy with an unchanged price target of $44, stating that recent non-material pipeline and corporate developments, including as part of the Q3 earnings release, "do not necessarily explain" why shares have rallied about 175% off their year-to-date lows seen in late July. While still encouraged by the steady pace of expanding enrollment in Phase 3 Alzheimer's trials, Mamtani's thesis is "adversely impacted by limited relevant data disclosures by the company" from its ongoing Phase 2 open-label studies, the analyst told investors.

Mizuho analyst John Baumgartner lowered the firm's price target on Oatly Group to $2.50 from $3.50 and keeps a Neutral rating on the shares. The Q3 miss on revenue and EBITDA were more demand-driven and erodes EBITDA visibility amid the company's cash burn, Baumgartner tells investors in a research note. The analyst says investors seeking clarity into funding were disappointed, as aside from draws on the revolver, no plans were conveyed for new debt/equity.

November 15

Planet Labs PBC and Microsoft (MSFT) announced an expanded partnership to apply artificial intelligence technology and satellite data to support African climate adaptation projects. "This technology collaboration is in support of Microsoft's recently-announced first global expansion of its AI for Good Labs into Nairobi, Kenya and Cairo, Egypt and the establishment of a corresponding AI Innovation Council with local partners and nonprofits. Through this program, Africa-based data scientists will have access to Planet satellite imagery from across the African continent to inform projects, as nominated by the AI Innovation Council, that have a specific focus on early warning systems and climate adaptation - the process of adjusting to current or expected effects of climate change," the company stated. "Two things that our Planet and Microsoft teams share in common is a very strong bias to action and to do the most good at the best scale," said Andrew Zolli, Chief Impact Officer of Planet.

Credit Suisse analyst Fred Lee lowered the firm's price target on Monday.com to $140 from $180 and keeps an Outperform rating on the shares following quarterly results. The analyst notes the company delivered a clean beat and raise, further evidence of the company's ability to execute and post solid growth despite deteriorating macro. Most of the company's deals are still greenfield, which points to how underpenetrated the market is; it also likely contributes to the relative macro immunity experienced thus far - something Lee expects the company will continue benefiting from.

Canaccord analyst David Hynes lowered the firm's price target on Monday.com to $120 from $165 and keeps a Buy rating on the shares. The analyst said they reported solid Q3 results highlighted by large customer momentum, continued traction with WorkOS, and FCF profitability. Commentary with respect to demand was generally upbeat; however, management did note that some of the softness they saw in Europe during Q2 started to spread to other regions in Q3.

Paysafe said it "has further strengthened its relationship" with Microsoft, launching paysafecard as a new alternative payment option on Microsoft.com and Xbox.com in the United States and eight additional European countries. "The ongoing collaboration between the two companies now spans 31 countries. This latest development means that millions of new customers in the U.S. and Europe who don't have access to traditional online payment solutions or who prefer not to share their credit card information online can now make cash-based purchases on Microsoft.com and Xbox.com," the company said.

Goldman Sachs analyst Kash Rangan reinstated coverage of Unity with a Neutral rating and $36 price target after the company closed its acquisition of ironSource. The analyst says the acquisition de-emphasizes Unity's design engine growth avenue in favor of a more balanced approach between creation and monetization in the long-term. This leads Rangan to become more cautious due to "clouded" near-term revenue visibility from current headwinds facing the mobile game industry and adverse advertising trends.

November 14

Third Point disclosed in an SEC filing its holdings as of September 30, 2022. The fund's nine new buys during the third quarter included, by size of position, Bath & Body Works (BBWI), TJX (TJX), Range Resources (RRC), Ferguson (FERG), and Take-Two (TTWO). Third Point exited nine holdings during the quarter, including by size of previous position Cenovus Energy (CVE), Crown Holdings (CCK), Archaea Energy (LFG), Membership Collective (MCG), and Social Leverage Acquisition Corp. I (SLAC). The fund increased its stake in five holdings, including by size of previous position Colgate-Palmolive (CL), Danaher (DHR), UnitedHealth (UNH), Disney (DIS), and T-Mobile (TMUS). Third Point reduced its stake in ten holdings, including by size of previous position EQT Corp. (EQT), Antero Resources (AR), Ovintiv (OVV), CSX (CSX), and DuPont (DD). The fund's top holdings as of September 30, in order of size, were Colgate-Palmolive, PG&E (PCG), Danaher, UnitedHealth, and Bath & Body Works.

3D Systems announced the addition of two new materials - Certified HX and Certified CuCr2.4 - to its materials portfolio. Both materials are certified for use with the company's DMP Flex 350, and DMP Factory 350 3D printers, and HX is also certified for the DMP Factory 500 to address a breadth of applications requiring high strength and corrosion-resistance in industries such as energy, industrial gas turbines, high tech, consumer goods, aerospace & defense, and automotive.

Wedbush analyst Robert Driscoll lowered the firm's price target on Zentalis to $32 from $51 and keeps an Outperform rating on the shares. The analyst notes Zentalis announced that it will pursue dose optimization studies for lead asset, Wee1 inhibitor ZN-c3 across its monotherapy studies, which he expects to modestly slow clinical progress of the registration-directed uterine serous carcinoma study. However, Driscoll expects insight into exposure, efficacy and therapeutic index that will inform the development plan more broadly.

Oatly Group reports Q3 EPS (18c), consensus (11c). Reports Q3 revenue $183M, consensus $212.1M. Oatly Group sees FY22 revenue $700M-$720M, consensus $798.58M. Toni Petersson, Oatly's CEO, commented, "Third quarter financial results were below our expectations, largely driven by COVID-19 restrictions in Asia, production challenges in the Americas, and continued foreign exchange headwinds. However, we continue to see strong velocities, year-over-year sales volume growth, and minimal price elasticity globally which we believe demonstrates the power and resilience of the brand. To position Oatly for our next phase of growth, we have taken decisive and strategic actions to improve our operational efficiencies in a volatile macroeconomic environment with an even more focused allocation of resources and capital. These initial actions will simplify our organizational structures and the execution of our supply chain network expansion, and we expect more profitable growth going forward with a more asset-light strategy."

Wells Fargo analyst Michael Blum downgraded Archaea Energy (LFG) to Equal Weight from Overweight with a price target of $26, up from $25, following BP's (BP) offer to acquire the company. The analyst believes the likelihood of a revised offer or outside bid is low, implying little upside from here with the stock trading in line with the $26 per share takeout bid.

Monday.com reports Q3 EP 5c consensus (54c). Reports Q3 revenue $136.90, consensus $130.5M.

Freyr Battery reports Q3 EPS (80c), consensus (30c). "We are excited with the progress FREYR demonstrated to support our industrialization plan during and subsequent to the third quarter, which included the start of our Giga America project development, securing our first binding long-term sales agreement with Nidec, and completing the initial stage of the project financing process for Giga Arctic" remarked Tom Einar Jensen, FREYR's Co-Founder and CEO. "With the selection and purchase of the Giga America site now concluded, FREYR is moving rapidly and decisively to advance our strategic goal to become an industrialization partner of choice in the clean battery space on both sides of the Atlantic. Looking through to the fourth quarter and 2023, our team is focused on meeting the key milestones that will further validate the 24M platform, unlock project financing for Giga Arctic, enable strategic capital formation, drive additional sales agreements, and facilitate accelerated development of Giga America," concluded Jensen.

About "Sell these stocks now"

Each week, The Fly will announce the newest downgrades to Strong Sell in StockNews.com's POWR Ratings algorithmic model.

This Fly exclusive recap identifies stocks with over a $1B market capitalization that have been downgraded this week to the Strong Sell, or "F," rating in the service's proprietary model that analyzes 118 different factors, each of which contribute a little to the stock's predicted likelihood of underperformance. A bell curve distribution of StockNews.com's ratings shows that only the top 5% of the over 5,000 stocks rated by the system are assigned a "Strong Buy," or "A," rating while the bottom 5% are assigned a Strong Sell. The F-rated stocks would have tumbled an average of 18.98% a year since 1999, according to StockNews.com.