Start the conversation
Leave a Reply
You must be logged in to post a comment.
Our list of recent IPO* movers of the week is less eventful than last week's, with nothing like the 140% rise of P10 Industries Inc. (OTCMKTS: PIOE) this time around.
Topping the list of winners is BeyondSpring Inc. (Nasdaq: BYSI), which gained 20.1% for the week. The New York-based company, which is involved in the development of cancer therapies, has been quiet on the news front. That may be why its impressive rise prompted Zacks Investment Research to downgrade the stock from a "Hold" to a "Sell" this week. Shares closed the week at $42.88, just about at HC Wainwright's price target of $43.
ObsEva SA (Nasdaq: OBSV) and Kadmon Holdings Inc. (NYSE: KDMN) both repeated on the winners list.
ObsEva added an 18.6% rise to its 32.3% spike the week before. Last week, HC Wainwright called ObsEva an "unsung potential winner," setting a price target of $27. Shares in the pharmaceutical company, which specializes in women's fertility, closed the week at $8.32.
Kadmon jumped 15.1% after a 23.4% rise the previous week. Shares are now up just under 60% over the past month for the New York-based biopharmaceutical company. Kadmon had been in free fall since its IPO in July 2016, but the market seems to be looking at it more fondly lately. The stock currently has a "Buy" rating at Zacks Investment Research.
BREAKING: New Legislation Could Turn Tiny Pot Stocks into Millions. Click Here...
Jounce Therapeutics Inc. (Nasdaq: JNCE) was the big loser of the week, falling 19.6% to close at $14.03 on Friday. The Massachusetts-based company, which specializes in cancer immunotherapies, has been in a slide ever since it hit a high of $28.32 in late April. It closed on Friday at $14.03, an all-time low since its IPO in January.
Ra Pharmaceuticals Inc. (Nasdaq: RARX) was down 18.6% for the week and closed on Friday nearly 30% lower than its all-time high reached in mid-May. Last week, Ra released disappointing mid-stage data on a drug candidate to treat paroxysmal nocturnal hemoglobinuria (PNH). Jeffries analyst Eun Yang has dismissed the setback and calls the sell-off a buying opportunity.
*Stocks are listed on a U.S. exchange with an initial public offering in the last year. Data and analytics provided by FactSet.
Start Making More Money Now: Get stock picks and research that could put an extra $125,000 in your pocket delivered straight to your inbox for just pennies a day. Read more...
Follow Money Morning on Facebook and Twitter.
Here Are 10 “One-Click” Ways to Earn 10% or Better on Your Money Every Quarter
Appreciation is great, but it’s possible to get even more out of the shares you own. A lot more: you can easily beat inflation and collect regular income to spare. There are no complicated trades to put on, no high-level options clearances necessary. In fact, you can do this with a couple of mouse clicks – passive income redefined. Click here for the report…
About the Author
Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.