These 2 Nasdaq Biotechs Are Making Huge Premarket Moves Monday

Stocks have bounced back sharply in the past week, and so it's reasonable for market participants to take a slight pause coming into Monday morning's open. As of 8:30 a.m. EDT, futures on the Nasdaq Composite (NASDAQINDEX: ^IXIC) were down about a quarter percent, which was in line with the broader stock market.

However, there was news from a couple of smaller biotech players that led to massive moves in their stock prices. Valneva (NASDAQ: VALN) saw its shares move strongly higher in premarket trading Monday morning, while the news was bad for industry peer Revance Therapeutics (NASDAQ: RVNC). Below, we'll look more closely at the stories that have investors paying attention to these normally low-profile biotech stocks.

Shares of Valneva soared 35% in premarket trading on Monday. The specialty vaccine company reported highly encouraging results for its COVID-19 vaccine candidate, and shareholders are excited about what that could mean for Valneva's future.

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Source Fool.com