First Republic Bank, PacWest Bancorp, Western Alliance Bancorporation And Other Big Stocks Moving Higher On Tuesday

U.S. stocks traded higher, with the Nasdaq Composite gaining more than 200 points on Tuesday. Here are some big stocks recording gains in today’s session.

• First Republic Bank FRC gained 45% to $45.24 as part of what appears to be a relief rally in the financial sector as several bank names bounce back after facing heavy selling pressure over the last few trading sessions.
• PacWest Bancorp PACW shares gained 44.7% to $14.11 after multiple insider buys by Officers, Directors reported late Monday. Several bank names bounced back after facing heavy selling pressure over the last few trading sessions. Multiple insider buys by Officers, Directors reported late Monday.
• Western Alliance Bancorporation WAL shares jumped 36% to $35.63. Wells Fargo maintained an Overweight rating on the stock, but lowered its price target from $90 to $65. Western Alliance Bancorporation’s form 13G showed Citadel Advisors LLC increased stake in company to 5.3%.
• Ambipar Emergency Response AMBI gained 33.6% to $7.55.
• Metropolitan Bank Holding Corp. MCB surged 32.7% to $33.88 after dropping 44% on Monday.
• Avid Bioservices, Inc. CDMO jumped 30.6% to $18.05 following upbeat quarterly earnings.
• Seacoast Banking Corporation of Florida SBCF climbed 23.2% to $26.05.
• First Foundation Inc. FFWM rose 20.4% to $9.34.
• Momentive Global Inc. MNTV shares surged 19.4% to $9.22 as the company agreed to be acquired by Symphony Technology Group for $1.5 billion.
• Coastal Financial Corporation CCB jumped 18.1% to $38.66.
• KeyCorp KEY shares gained 17.5% to $13.38 after dropping 27% on Monday.
• Amylyx Pharmaceuticals, Inc. AMLX gained 16.2% to $36.21 as the company posted a narrower-than-expected quarterly loss.
• The Bancorp, Inc. TBBK surged 16.2% to $30.21.
• Genelux Corporation GNLX gained 15.7% to $16.50.
• Veritex Holdings, Inc. VBTX rose 15.6% to $20.05.
• Hut 8 Mining Corp. HUT gained 14.7% to $1.72.
• Texas Capital Bancshares, Inc. TCBI rose 14.7% to $58.97.
• Bunge Limited BG climbed 14.1% to $104.30 after it was announced the company will replace Signature Bank in the S&P 500.
• B. Riley Financial, Inc. RILY surged 13% to $33.89. Synchronoss Technologies confirmed that on March 10, 2023, it received a non-binding proposal from B. Riley Financial to acquire all outstanding shares for $1.15 per share, payable in cash.
• Univar Solutions Inc. UNVR gained 12.3% to $34.99. Apollo Global Management agreed to acquire chemical and ingredient distributor Univar Solutions in an all-cash transaction that values the company at an enterprise value of approximately $8.1 billion.
• Cvent Holding Corp. CVT rose 12.2% to $8.31 after the company announced it will be acquired by Blackstone for $8.50 per share.
• Q2 Holdings, Inc. QTWO surged 12% to $23.38. Piper Sandler maintained Q2 Holdings with an Underweight and lowered the price target from $26 to $20.
• Axos Financial, Inc. AX jumped 10.6% to $37.63.
• Dime Community Bancshares, Inc. DCOM gained 10.6% to $25.52.
• Cipher Mining Inc. CIFR gained 9.6% to $1.9950 after the company provided a Q4 and full year 2022 business update.
• Cullen/Frost Bankers, Inc. CFR rose 9.2% to $113.26.
• Webster Financial Corporation WBS jumped 9% to $40.93. Shares of banks traded higher as part of what appears to be a relief rally in the sector as several bank names bounce back after facing heavy selling pressure over the last few trading sessions.
• Bank of Hawaii Corporation BOH gained 8.7% to $56.25.
• Chart Industries, Inc. GTLS jumped 8.2% to $126.06. Chart Industries received all regulatory clearances to close the acquisition of Howden.
• Coinbase Global, Inc. COIN rose 7.2% to $63.41. Shares of several companies in the broader financials space traded higher as part of what appears to be a relief rally in the sector as several bank names bounce back after facing heavy selling pressure over the last few trading sessions.

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