Biggest stock movers today: Pfizer, FibroGen, Lucid and more
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In the final trading week of June, stock futures were mixed during Monday's trade session. U.S. equities last week ended a run of gains spanning five weeks as worries about rising interest rates were fueled by the Fed's hawkish comments.
Here are some of Monday's biggest gainers and losers:
Biggest stock gainers

PacWest Bancorp (NASDAQ:PACW) stock jumped nearly 8%, following Ares Management's (ARES) announcement that some funds under its Alternative Credit strategy had purchased a $3.5 billion portfolio of specialty finance loans from PacWest. The portfolio consists of high-quality, senior-secured, asset-backed loans. "The move aims to improve the liquidity and capital of PacWest Bancorp," said Paul Taylor, President and CEO of PacWest Bancorp.
Following an agreement to accelerate Aston Martin's (OTCPK:AMGDF) high-performance electrification plan and long-term growth, the stock price of Lucid Group (NASDAQ:LCID) rose as much as 8%. As per the deal, Lucid will get a roughly 3.7% stake in the company.
Applied Digital (NASDAQ:APLD) saw a more than 10% increase in share price after securing its second artificial intelligence customer on Friday with a deal worth up to $460 million over three years. Wes Cummins, CEO and Chairman of Applied Digital, stated that "as the AI industry continues to grow at unprecedented levels, we continue to see extraordinary demand for our new cloud service as a result."

Biggest stock losers

Pfizer (NYSE:PFE) shares fell around 6% after the pharma giant announced it would discontinue further clinical development of lotiglipron, an oral treatment targeted at obesity and Type 2 diabetes mellitus. The decision to discontinue the program is based on Phase 1 and Phase 2 data for lotiglipron, including findings that indicated an increase in liver enzyme transaminases.
FibroGen (NASDAQ:FGEN) shares plunged around 80% after its Phase 3 ZEPHYRUS-1 trial for pamrevlumab for the chronic lung disorder idiopathic pulmonary fibrosis (IPF) failed to meet its primary goals. The company has decided to discontinue ZEPHYRUS-1 and ZEPHYRUS-2, a second Phase 3 clinical trial for the candidate.
Oncolytics Biotech (NASDAQ:ONCY) shares declined by 7% after surging more than 42% last week. The boost in share prices last week is due to the oncologic pelareorep being approved for use in a phase 3 pancreatic cancer therapy study.

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