Wolfspeed, Genesco, PacWest Bancorp And Other Big Stocks Moving Higher On Monday
Portfolio Pulse from Lisa Levin
U.S. stocks traded mixed on Monday, with the Nasdaq Composite gaining around 60 points. Several stocks recorded significant gains, including MoonLake Immunotherapeutics, Acelyrin, ORIC Pharmaceuticals, Identiv, SL Green Realty, Lucid Group, PacWest Bancorp, and Wolfspeed.
June 26, 2023 | 2:13 pm
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POSITIVE IMPACT
Identiv rose 15.7% to $8.31 after B. Riley Securities upgraded the stock from Neutral to Buy and raised the price target from $10 to $11.
Identiv's stock price increased by 15.7% after B. Riley Securities upgraded the stock from Neutral to Buy and raised the price target from $10 to $11. This positive analyst rating likely boosted investor confidence in the stock, driving up its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
MoonLake Immunotherapeutics jumped 75% to $45.50 after its Phase 2 study for Nanobody sonelokimab met its primary endpoint in hidradenitis suppurativa.
MoonLake Immunotherapeutics' stock price increased significantly due to the positive results from its Phase 2 study, which met its primary endpoint. This indicates a potential breakthrough in the treatment of hidradenitis suppurativa, driving investor interest and demand for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
ORIC Pharmaceuticals gained 17% to $7.59 after announcing an $85 million private placement financing.
ORIC Pharmaceuticals' stock price increased by 17% after announcing an $85 million private placement financing. This additional capital will likely be used to fund the company's operations and growth, making the stock more attractive to investors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
PacWest Bancorp climbed 10% to $7.95 after Ares Management acquired the bank's $3.5 billion specialty finance loan portfolio.
PacWest Bancorp's stock price increased by 10% after Ares Management acquired the bank's $3.5 billion specialty finance loan portfolio. This acquisition likely signals confidence in the bank's loan portfolio and may lead to increased investor interest in the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Acelyrin shares jumped 35% to $23.81.
Acelyrin's stock price increased by 35%, indicating strong investor interest and demand for the stock. However, the article does not provide any specific reason for the increase.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Wolfspeed gained 6.6% to $52.71 after the company received a $1.25 billion investment led by Apollo.
Wolfspeed's stock price increased by 6.6% after the company received a $1.25 billion investment led by Apollo. This significant investment likely signals confidence in the company's growth prospects and may lead to increased investor interest in the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100