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Why Is PacBio (PACB) Stock Soaring Today
Shares of genomics company Pacific Biosciences of California (NASDAQ:PACB) jumped 6.1% in the afternoon session after Cathie Wood's investment firm, ARK Invest, purchased a substantial number of its shares. The firm's transaction reports showed the acquisition of 423,426 shares of Pacific Biosciences of California for approximately $724,058. This move was part of a series of end-of-year portfolio adjustments by ARK Invest. The purchases indicated a strategic tilt toward the biotechnology sector as the firm increased its holdings in several biotech companies.
Why FuelCell Energy (FCEL) Stock Is Trading Lower Today
Shares of carbonate fuel cell technology developer FuelCell Energy (NASDAQ:FCEL) fell 9.8% in the afternoon session after the company filed for a common stock offering of up to $200 million.
Why Corcept (CORT) Shares Are Falling Today
Shares of biopharma company Corcept Therapeutics (NASDAQ:CORT) fell 51.4% in the afternoon session after the U.S. Food and Drug Administration (FDA) issued a Complete Response Letter (CRL) rejecting the company's New Drug Application for relacorilant.