Vaxcyte, Shoals Technologies, Polestar Automotive, Applied Optoelectronics And Other Big Stocks Moving Higher On Tuesday

Author: Avi Kapoor | September 03, 2024 10:47am

U.S. stocks were lower, with the Nasdaq Composite falling around 2% on Tuesday.

Shares of Vaxcyte, Inc. (NASDAQ:PCVX) rose sharply during Tuesday's session after the company released topline results from the Phase 1/2 study evaluating the safety, tolerability and immunogenicity of VAX-31, the company’s 31-valent pneumococcal conjugate vaccine (PCV) candidate designed to prevent invasive pneumococcal disease.

VAX-31 was well tolerated and demonstrated a safety profile at all doses studied through the full six-month evaluation period, similar to Pfizer Inc’s (NYSE:PFE) Prevnar 20 (PCV20).

Vaxcyte shares jumped 43.5% to $115.92 on Tuesday.

Here are some other big stocks recording gains in today's session.

Sable Offshore Corp. (NYSE:SOC) shares rose 28.8% to $21.69.
Shoals Technologies Group, Inc. (NASDAQ:SHLS) gained 21.8% to $6.57 after the company received a favorable legal ruling from the U.S. ITC in its patent infringement complaint against Voltage, LLC and a related foreign entity.
Polestar Automotive Holding UK PLC (NASDAQ:PSNY) rose 16% to $1.4150 after the company appointed former Stellantis executive Jean-Francois Mady as its new CFO.
Big Tree Cloud Holdings Limited (NASDAQ:DSY) gained 12.6% to $5.99.
Applied Optoelectronics, Inc. (NASDAQ:AAOI) jumped 10.7% to $12.57 after Raymond James upgraded the stock from Market Perform to Outperform and announced a $17 price target.
Unity Software Inc. (NYSE:U) rose 9.4% to $17.91 after Morgan Stanley upgraded the stock from Equal-Weight to Overweight.
BridgeBio Pharma, Inc. (NASDAQ:BBIO) jumped 8.5% to $30.24. HC Wainwright & Co. analyst Raghuram Selvaraju reiterated BridgeBio Pharma with a Buy and maintained a $43 price target.
Montana Technologies Corporation (NASDAQ:AIRJ) gained 8.4% to $6.05.
Intchains Group Limited (NASDAQ:ICG) gained 8.1% to $7.89.
Keros Therapeutics, Inc. (NASDAQ:KROS) climbed 8.1% to $49.04 after the company announced an update on enrollment in the Phase 2 TROPOS trial.
XPeng Inc. (NYSE:XPEV) rose 4.8% to $8.44. XPeng delivered 14K smart EVs in August, up by 3% year over year.
Vera Therapeutics, Inc. (NASDAQ:VERA) gained 4.5% to $39.53. JP Morgan analyst Anupam Rama maintained Vera Therapeutics with an Overweight and raised the price target from $62 to $72.
Novavax, Inc. (NASDAQ:NVAX) rose 4.5% to $12.94. Friday, the FDA granted Emergency Use Authorization to the company's COVID-19 Vaccine, Adjuvanted (2024-2025 Formula) (NVX-CoV2705) for active immunization to prevent COVID-19 in individuals aged 12 and older.
Bilibili Inc. (NASDAQ:BILI) gained 3.7% to $14.91. B of A Securities analyst Brad Sills maintained Bilibili with a Buy and raised the price target from $18 to $19.
The J. M. Smucker Company (NYSE:SJM) rose 3.1% to $118.27.