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.

This week's downgrades to Strong Sell as determined by the POWR Ratings algorithm:

NeoGenomics (NEO) - a pharmaceutical company specializing in cancer genetics testing and information services
Riot Blockchain (RIOT) - a company focused on mining bitcoin and hosting bitcoin mining equipment for institutional clients
Sana Biotechnology (SANA) - a company focused on creating and delivering engineered cells as medicines
Stem (STEM) - a provider of artificial intelligence-driven software and services
Guardant Health (GH) - a precision oncology company
KKR (KKR) - a global investment firm that offers alternative asset management as well as capital markets and insurance solutions
Opendoor (OPEN) - an e-commerce platform for residential real estate transactions
Warner Bros. Discovery (WBD) - a global media and entertainment company
Confluent (CFLT) - a data streaming platform that is "pioneering a fundamentally new category of data infrastructure that sets data in motion"
On (ONON) - a Swiss performance sportswear brand
Warby Parker (WRBY) - a direct-to-consumer lifestyle brand
BioLife Solutions (BLFS) - a developer and supplier of bioproduction products and services for the cell and gene therapies and the broader biopharma markets
Crispr Therapeutics (CRSP) - a biopharmaceutical company focused on creating "transformative" gene-based medicines for serious diseases
23andMe (ME) - a consumer genetics and research company
Par (PAR) - a global restaurant technology company and provider of unified commerce for enterprise restaurants
Radius (RADI) - an owner and acquirer of real property interests and contractual rights underlying essential digital infrastructure assets in 21 countries
Recursion Pharmaceuticals (RXRX) - a clinical-stage biotechnology company industrializing drug discovery by decoding biology
Coinbase (COIN) - an operator of a cryptocurrency exchange platform whose stated aim is to build "a more fair, accessible, efficient, and transparent financial system enabled by crypto"
Compass (COMP) - a technology-enabled residential real estate brokerage that identifies itself as "the largest residential real estate brokerage in the United States"
Cronos (CRON) - a global cannabinoid company with an international portfolio of cannabis product brands
Flywire (FLYW) - a global payments enablement and software company
Iveric bio (ISEE) - a science-driven biopharmaceutical company focused on the discovery and development of novel treatments for retinal diseases with "significant unmet medical needs"
Roblox (RBLX) - operator of a global platform that says its mission is "to connect a billion people with optimism and civility" via immersive digital experiences built by the Roblox community of creators
Unity (U) - a platform for creating and operating interactive, real-time 3D content
Verve Therapeutics (VERV) - a clinical-stage genetic medicines company "pioneering a new approach" to the care of cardiovascular disease

Learn more about the POWR Ratings

The Fly's recent reporting on these stocks includes:

Roughly a week after KKR formed a strategic alliance with Loop Capital, KKR director Matt Cohler disclosed the acquisition of $991,000 of shares of common stock on August 8. On August 11, Deutsche Bank analyst Brian Bedell raised his price target on the stock to $68 from $65, saying he views alternative asset managers as the best positioned for the second half of the year.

On August 8, Barrington analyst James Goss downgraded Warner Bros. Discovery to Market Perform from Outperform, saying the neutral stance reflects delays in the introduction of the company's new strategic options and lack of specificity in blending it two distinct programming services. Goss added that he continues to feel Warner Bros. has a "major challenge in blending services that range as broadly as Discovery unscripted through HBO super premium."

Opendoor Technologies reported downbeat second quarter earnings late last week, with analysts from BTIG and Oppenheimer subsequently lowering their price targets on the stock. Of note, BTIG's Jake Fuller said the company's performance during the strong pandemic housing market will not matter as much, with the outlook for Q3 looking "dire."

Despite reporting better-than-expected quarterly revenue on August 11, Warby Parker cut its 2022 revenue guidance, with CFO Steve Miller noting the "uncertain macroeconomic environment." "In light of these challenges, we have rationalized our expense base and adopted a new outlook on the remainder of the year," Miller added. "As a leadership team, we are taking a disciplined approach to managing costs to set us up for sustainable growth and profitability."

Crispr Therapeutics shares plunged on August 9 after the company reported downbeat quarterly results on the top and bottom line. Following the report, Barclays analyst Gena Wang downgraded the stock to Equal Weight from Overweight, saying the Q2 release was "largely incremental," highlighting the progress of its multiple clinical programs. Wang also cut her price target on the shares to $88 from $99.

On August 9, Coinbase shares dropped after the company reported lower-than-expected earnings and revenue for the second quarter, with MTUs falling 2% from the prior quarter. Of note, Coinbase said it expects third quarter MTUs and trading volume to fall compared to Q2, and announced in a regulatory filing that it received subpoenas from the SEC regarding certain customer programs.

Also on August 9, Cronos Group reported Q2 loss per share in line with consensus estimates, though revenue fell below Wall Street expectations. Commenting on the quarterly results, CEO Mike Gorenstein said the company's supply chain transformation in Canada is "going very well." "Although early in the repositioning of our U.S. business, we are confident the new strategy will improve our bottom-line while maintaining brand equity that we can leverage into cannabinoids beyond CBD, and in the U.S. THC market once regulations permit," Gorenstein added.

After declines earlier in the week following its quarterly report, Roblox shares jumped on Wednesday after Cathie Wood's ARK Investment bought 191,000 shares of the company. Meanwhile, analysts at Wedbush and Deutsche Bank raised their price targets on the stock, with Wedbush's Nick McKay saying that the outsized share price performance was a direct reflection of steadily-rising Buy Side whisper numbers derived from third-party credit card/digital data aggregators.

Unity shares have mostly been on the rise this week, as AppLovin (APP) announced a non-binding proposal to combine with the company on Tuesday. Later that same day, Unity reported mixed quarterly results and provided conservative earnings and revenue guidance ranges for the third quarter and fiscal 2022. Still, many analysts raised their price targets on Unity following the report, with Piper Sandler's Brent Bracelin saying there were "few major surprises" from the report and earnings call.