Here are some of the top movers during premarket trading on Monday:
1. Intellia Therapeutics - Up 52%
Intellia Therapeutics (NTLA) - Get Free Report shares surged after the biotechnology company along with Regeneron Pharmaceuticals (REGN) - Get Free Report reported positive results from its first clinical trial using a new technology to treat transthyretin amyloidosis. The disorder is a rare inherited condition characterized by abnormal buildup of a protein called amyloid in the body's organs and tissues, the National Institutes of Health says.
2. Boeing - Down 1.2%
Shares of Boeing (BA) - Get Free Report slipped amid reports that the Federal Aviation Administration warned the aerospace giant that it may take at least two more years for its 777X widebody to earn certification. The FAA cautioned that it can't "realistically" certify the plane until the middle of 2023 and possibly beyond, Reuters reported.
3. Nvidia - Up 1.2%
Nvidia (NVDA) - Get Free Report rose following a report that three of the world's largest chipmakers voiced support for the company's proposed $40 billion acquisition of British microchip company Arm. Broadcom (AVGO) - Get Free Report, MediaTek, and Marvell Technology (MRVL) - Get Free Report are the first customers of the Cambridge, U.K.-based Arm to publicly support the takeover, the Sunday Times reported.
4. Arbutus Biopharma - Up 14%
Arbutus Biopharma (ABUS) - Get Free Report shares jumped on Monday after the company reported progress with GalNAc-siRNA AB-729, a hepatitis drug. “Repeat dosing of AB-729 results in modest reductions in hepatitis B core-related antigen and hepatitis B e antigen,” the company said. “Repeat dosing of AB-729 was safe and well tolerated.”
5. NRG Energy - Up 3%
NRG Energy (NRG) - Get Free Report climbed after Goldman Sachs analyst Michael Lapides added the energy provider to the firm's Conviction List. Lapides, who has a buy rating on the stock, raised his price target to $57 from $46. He said that cash inflows in 2021 should recover materially, and he expects robust free cash flow in 2022-2023, driven by NRG's retail business and a return to more normal operating conditions after Winter Storm Uri significantly weighed on Q1 2021 results.