Biggest stock movers today: Grab Holdings, Workhorse Group, Rocket Pharmaceuticals and more
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Stock futures experienced a slight decline on Wednesday amid a slightly higher CPI reading of 3.7% compared to the forecast.
Here are some of Wednesday's biggest stock movers:
Biggest stock gainers

Moderna (NASDAQ:MRNA) shares rose 6% after its experimental flu vaccine demonstrated a stronger immune response against four virus strains, paving the way for U.S. approval. The company expects to add $10-15B in annual sales from new products in oncology, rare diseases, and latent diseases by 2028, with $25B in research and development from 2024-2028.

Rocket Pharmaceuticals (NASDAQ:RCKT) shares surged 17% after the gene-therapy developer partnered with the FDA to conduct a global Phase 2 pivotal trial of RP-A501 for Danon Disease, a rare inherited cardiomyopathy affecting 15,000 to 30,000 patients in the U.S. and Europe. Danon Disease is a fatal inherited cardiomyopathy with no approved curative or disease-modifying therapies, affecting males at age ~20 and females at age ~40.
Workhorse Group (NASDAQ:WKHS) shares surged 21% after the IRS approved the company as a qualified manufacturer for the Commercial Clean Vehicle Credit under the terms of the Internal Revenue Code. The company said the approval gives customers potential eligibility to receive up to a $40K credit for deliveries of all Workhorse vehicles in 2023 and beyond.

Biggest stock losers

Grab Holdings Limited (NASDAQ:GRAB) fell over 8% following Singapore's Land Transport Authority's announcement to investigate taxi and ride-hailing service supply as part of a review of the industry structure and regulatory framework.
Evolution Petroleum (NYSE:EPM) stock dipped more than 13% after the company underperformed market expectations in Q4, with a top-line decline of 57%, impacted by much lower quarter-over-quarter price realizations and extended downtime and maintenance across multiple fields.
Shares of Granite Ridge Resources (NYSE:GRNT) fell over 8% after pricing a secondary offering of 7.1M shares at $5 per share, below the current trading price of $5.55. The offering, expected to close on September 15, 2023, has a 30-day option to purchase up to 1.07M shares from selling shareholders. The company will not sell any common stock or receive proceeds.


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