INTC, EVAX, RCAT Stocks Move Higher Premarket — What’s Driving The Rally?

• Intel shares rose 4% after JPMorgan upgraded INTC to ‘Neutral’ from ‘Underweight.’
• Evaxion shares gained 5% after the company reported that patients in its Phase 2 trial maintained their cancer treatment responses at three years, with no tumor progression.
• Red Cat shares climbed nearly 7% after the company proposed a €39-per-share cash offer for Steyr Motors, a 28.9% premium to its Oct. 16 closing price.

Shares of Intel (INTC), Evaxion Biotech (EVAX) and Red Cat (RCAT) moved higher in premarket trading on Monday after a JPMorgan upgrade, new clinical data for a cancer vaccine and a proposed acquisition offer, respectively.

While Intel gained 4%, Evaxion rose 5%, and Red Cat climbed nearly 7% at the time of writing.

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INTC Gains After JPMorgan Upgrade

INTC shares rose 4% premarket after JPMorgan upgraded the stock to ‘Neutral’ from ‘Underweight’ while keeping its price target unchanged at $85. The firm sees a more balanced risk-reward profile as the shares approach its price target.

Intel shares have pulled back 36% from their June peak, according to the analyst’s research note. JPMorgan believes Intel’s execution and competitiveness in its core data center computing market have improved since Lip-Bu Tan became CEO, according to TheFly. The firm also highlighted improvements in the company’s execution on next-generation manufacturing.

Evaxion Reports Three-Year Cancer Vaccine Data

EVAX shares rose 5% in premarket trading after the company reported three-year clinical outcome data for its personalized cancer vaccine EVX-01 in patients with advanced melanoma.

All patients who reached the three-year follow-up in the Phase 2 trial maintained the clinical responses recorded at two years, with no tumor progression observed. Patients received EVX-01 as a standalone therapy during the third year of treatment.

These findings, along with new immune data, will be presented at the European Society for Medical Oncology (ESMO) Congress 2026 in Spain from Oct. 23 to 27.

Previously reported two-year results showed a 75% objective response rate, with 25% of patients achieving a complete response. At the two-year follow-up, 92% of patients remained clinically responsive, with no relapses reported.

Tumor reduction was observed in 15 of the 16 patients enrolled in the trial.

Red Cat Proposes €39-Per-Share Offer For Steyr Motors

RCAT shares climbed nearly 7% premarket after the company announced a proposed voluntary public purchase offer to acquire all outstanding shares of Steyr Motors for €39 ($43.71) per share in cash.

Steyr Motors’ anchor shareholder, B&C Group, supports the proposed transaction, which represents a strategic investment in the company and Austrian production capabilities.

Red Cat and Steyr Motors previously held non-binding discussions about a potential transaction, but those talks were discontinued in July. Discussions subsequently resumed, resulting in a fully financed, all-cash offer.

The proposed transaction remains subject to customary conditions, including regulatory approvals in Austria, Italy, Australia and the UK, and a minimum acceptance threshold of 50% plus one share. There is no assurance that the offer will be completed or that the transaction will close on the anticipated timeline or at all.

INTC, EVAX, RCAT Stocks: Stocktwits Retail Sentiment

Retail sentiment toward Intel was ‘bearish,’ unchanged in the past 24 hours, while message volume was ‘normal’ at the time of writing. INTC shares have gained over 146% year-to-date.

The sentiment for Evaxion was ‘bullish,’ amid ‘high’ message volume. EVAX shares have lost around 52% since the beginning of this year.

For RCAT, the sentiment was ‘bearish,’ while message volume was ‘normal.’ RCAT stock has declined nearly 66% year-to-date. 

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