Why These Stocks Are Gaining Ground on Tuesday?

FDA Publishes Documents Ahead of Meeting to Discuss DexCom’s Proposal

DexCom, Inc. (NASDAQ:DXCM) has appreciated by 6.92% so far today after the company announced that the FDA had published its briefing documents ahead of the meeting of Chemistry and Clinical Toxicology Devices Panel of the Medical Devices Advisory Committee, which is scheduled to take place on July, 21. The meeting is related to the the premarket approval of the company’s proposal to change the intended use of its G5 Mobile CGM System. The change is proposed in order to let the patients to make diabetes treatment decisions based on the interstitial fluid glucose concentration reported by the CGM. A total of 27 funds from our database held stakes in DexCom, Inc. (NASDAQ:DXCM) at the end of March, down from 34 funds a quarter earlier.

Plug Power Wins Another Contract

Plug Power Inc (NASDAQ:PLUG) rose to fresh highs on Tuesday after the company was awarded a contract by France’s Carrefour SA to provide 150 fuel cell power systems to power electric lift trucks. Last week, Plug Power announced an agreement with FM Logistics, another French company, to provide power systems. Only Four hedge funds tracked by Insider Monkey were long Plug Power Inc (NASDAQ:PLUG) at the end of the first quarter.

Cerus Corporation’s Stock Jumps

Cerus Corporation (NASDAQ:CERS) has surged 4.33% so far today. The California-based biomedical products company recently received a grant of $2.1 million from the Red Cross for a program to improve blood safety in Africa. Cerus Corporation’s system will also be used at blood centers in Rio Olympics 2016. From our database, 13 investors held about $99.6 million worth of shares of Cerus Corporation (NASDAQ:CERS) at the end of March.

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