WISCONSIN (CoinChapter.com) — Following a selloff for the main averages on Tuesday night, US stock futures showed little movement. Futures for the Dow Jones Industrial Average dropped 27 points or 0.08%. NASDAQ 100 futures fell 0.06% and S&P 500 futures were down 0.06%.
Here are the five best stock market gainers:
Tango Therapeutics Inc. (NASDAQ: TNGX)
Tango Therapeutics Inc. (NASDAQ: TNGX) stock had a significant surge today, with an increase of 105%. This substantial uptick comes on the back of revised price targets from two notable financial analysis firms.
Guggenheim initiated the rally by raising its price target from $12 to $16 per share, indicating a potential upside of 317.7% from its previous close. Adding to the momentum, Leerink Partners also revised its price target upwards.
Decibel Therapeutics Inc. (NASDAQ: DBTX)
Shares of Decibel Therapeutics Inc. (NASDAQ: DBTX) experienced a big jump, soaring over 76% in trading today.
The increase came after an announcement that Regeneron Pharmaceuticals has agreed to purchase the biotech company for as much as $213 million. This strategic acquisition will serve to bolster Regeneron’s gene therapy pipeline.
Investors in Decibel can anticipate receiving $4 per share at the closing of this transaction. Furthermore, they could potentially receive an additional $3.50 per share if specified clinical development and regulatory milestones are achieved for its principal drug candidate, DB-OTO.
This gene therapy is designed to treat hearing loss in children.
Mirati Therapeutics Inc. (NASDAQ: MRTX)
Mirati Therapeutics Inc. (NASDAQ: MRTX), a prominent player in the biotechnology industry, has announced the pricing of a public offering.
The commercial-stage biotech company plans to offer 9,669,631 shares of its common stock at a price of $27.80 per share to the public. In addition, certain investors will have the opportunity to purchase pre-funded warrants for 1,121,736 shares of common stock at a price of $27.799 per pre-funded warrant.
The gross proceeds from this public offering are expected to provide a significant financial boost to Mirati Therapeutics’ operations.
Computer Task Group Inc. (NASDAQ: CTG)
Shares of Computer Task Group Inc. (NASDAQ: CTG) jumped higher on news that Halper Sadeh LLC, a prominent investor rights law firm, opened an investigation into the sale of the company to Cegeka Groep NV.
The sale was carried out at $10.50 per share in cash. Questions have been raised regarding its fairness to Computer Task Group shareholders. As such, Halper Sadeh LLC is investigating this sale to ensure that all legal obligations were met and that it was conducted at a fair price for all involved parties.
Oportun Financial Corp. (NASDAQ: OPRT)
Oportun Financial Corp. (Nasdaq: OPRT), a leading fintech company, has successfully closed a $400 million whole loan flow sale agreement with Castlelake, L.P., a renowned global investment firm. This agreement stipulates that Oportun will sell $400 million worth of personal loan production, originated by itself, to Castlelake over the coming year.
