Stocks ended higher Tuesday as Moderna's (MRNA) - Get Moderna, Inc. Report coronavirus vaccine was determined to be highly effective by staff at the Food and Drug Administration, and signs of progress on a coronavirus relief package.
Here are some of the big movers in the stock market on Tuesday:
1. Prevail Therapeutics | Percentage Increase 82%
Prevail Therapeutics (PRVL) - Get Prevail Therapeutics, Inc. Report soared after Eli Lilly (LLY) - Get Eli Lilly and Company Report said it would the gene therapy developer for just more than $1 billion. Eli Lilly will pay $22.50 a share for the company, an 80% premium to its Friday closing price of $11.94, with a performance bonus of around $4 a share.
2. Oncocyte | Percentage Increase 19%
Shares of Oncocyte (OCX) - Get Oncocyte Corporation Report climbed after the cancer detection company said it has licensed a lung cancer test to China’s Burning Rock Biotech for use in that country. The test is called DetermaRx and is meant to identify high-risk, early-stage lung cancer patients.
3. Lydall | Percentage Increase 12%
Lydall (LDL) - Get Lydall, Inc. Report, which makes the filtration media used in N95 surgical masks, was climbing. On Monday, President and CEO Sara Greenstein told TheStreet's Jim Cramer that the company had tripled its capacity to ensure that the world has the filtration media it needs in the fight against Covid-19.
4. Baidu | Percentage Increase 14%
Shares of Chinese search-engine giant Baidu (BIDU) - Get Baidu Inc. Report jumped following reports that it was pondering making its own electric vehicles. Reuters reported that Beijing-based Baidu was considering contract manufacturing or setting up a majority-owned venture with automakers to produce electric cars.
5. RealReal | Percentage Increase 13%
Online fashion retailer RealReal (REAL) - Get RealReal, Inc. Report jumped on heavy volume after analysts at Piper Sandler initiated coverage of the stock with an overweight rating. The San Francisco-based consignment luxury goods seller also was given a $19 price target.