Stocks closed higher Monday, rebounding from Friday's losses, as President Joe Biden said the government would not immediately resort to lockdowns in its response to the Omicron variant of Covid-19.
Here are some of the top stock gainers for Monday:
1. Zscaler | Increase 5.7%
Shares of Zscaler (ZS) - Get Free Report, which on Tuesday is scheduled to report quarterly earnings, were climbing after two investment firms raised their price targets for the IT security company. Needham analysts boosted their price target to $390 from $345, while RBC Capital analysts boosted their target to $380 from $326.
2. Krystal Biotech | Increase 122%
Krystal Biotech (KRYS) - Get Free Report shares doubled after the biotech said its Vyjuvek treatment met its primary endpoint of complete wound healing at six-month timepoints and its secondary endpoint of complete wound healing at three-month timepoints. Vyjuvek was well tolerated, with no drug-related serious adverse events or discontinuations.
3. Adagio Therapeutics | Increase 86%
Shares of Adagio Therapeutics (ADGI) - Get Free Report as much as more than doubled after the biopharma said it expected its lead SARS-CoV-2 antibody, ADG20, will retain activity against the omicron SARS-CoV-2 variant, and other known variants of concern with potential duration of protection up to one year in a single injection.
4. Moderna | Increase 12%
Shares of Moderna (MRNA) - Get Free Report jumped after the drugmaker said that by early in the new year it could develop a vaccine capable of combating the new Omicron Covid variant. The company said it is testing three experimental boosters and testing its existing authorized booster.
5. Royal Caribbean | Increase 2.8%
Royal Caribbean (RCL) - Get Free Report shares rebounded. They'd fallen on Friday due to fears over potential new travel restrictions heading into the holiday season as South Africa warned of the Omicron Covid variant.