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

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

Shares of Vaxcyte, Inc. 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 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. SOC shares rose 28.8% to $21.69.
• Shoals Technologies Group, Inc. 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 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 DSY gained 12.6% to $5.99.
• Applied Optoelectronics, Inc. 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. U rose 9.4% to $17.91 after Morgan Stanley upgraded the stock from Equal-Weight to Overweight.
• BridgeBio Pharma, Inc. 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 AIRJ gained 8.4% to $6.05.
• Intchains Group Limited ICG gained 8.1% to $7.89.
• Keros Therapeutics, Inc. KROS climbed 8.1% to $49.04 after the company announced an update on enrollment in the Phase 2 TROPOS trial.
• XPeng Inc. XPEV rose 4.8% to $8.44. XPeng delivered 14K smart EVs in August, up by 3% year over year.
• Vera Therapeutics, Inc. 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. 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. 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 SJM rose 3.1% to $118.27.

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