Which biotech and pharma stocks were on the rise last week? We list the top gainers and what may have moved their share prices.
The NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) had a bumpy week last week but, in the end, still had an increase from 3,122.33 points on Monday’s (October 7) open to reach 3,152.35 points as of 1:19 p.m. EDT on Friday (October 11).
In terms of top performing stocks, a number of small-to-mid cap companies made slight increases, with each of the best performing companies rising over 10 percent for the week.
On that note, the five top gainers last week were as follows:
- Jounce Therapeutics (NASDAQ:JNCE)
- Acasti Pharma (NASDAQ:ACST)
- Eloxx Pharmaceuticals (NASDAQ:ELOX)
- Gamida Cell (NASDAQ:GMDA)
- Five Prime Therapeutics (NASDAQ:FPRX)
Here’s a closer look at those companies and what may have moved their share prices.
Jounce Therapeutics is an immunotherapy company with a focus on developing treatments for cancer. Its lead product candidate, vopratelimab, is currently being tested in a Phase 2 clinical trial and will be meant to be used in combination with other product candidates in its pipeline.
Last week shares of Jounce Therapeutics rose 22.42 percent to reach US$3.49 as of 2:08 p.m. EDT on Friday despite having no announcements last week that could relate to its price hike.
Acasti Pharma is focused on advancing its cardiovascular drug, CaPre, to treat hypertriglyceridemia, a condition in which triglyceride levels are increased. Triglycerides are a type of fat that is found in blood. CaPre is currently in a Phase 3 clinical program.
That being said, Acasti Pharma didn’t have any news last week. Despite this, shares of the company rose 17.05 percent over the week to US$2.18 as of 2:26 p.m. EDT on Friday.
Eloxx Pharmaceuticals is developing novel RNA-modulating drug candidates to treat codon diseases.
On Thursday (October 10), the company gave a heads up that it will be releasing its Q3 financial results at the beginning of November.
Throughout the week, shares of Eloxx Pharmaceuticals were up 13.57 percent to US$4.18 as of 2:08 p.m. EDT on Friday.
Gamida Cell’s area of focus is on developing cell therapies to treat blood cancers and rare hematologic diseases.
The company’s omibudicel is in a Phase 3 clinical trial for high-risk leukemia, myelodysplastic syndrome and lymphomas in addition to a Phase 1 for severe aplastic anemia.
That being said, the company also had no news last week that could relate to its share price increase. Over the week shares of Gamida Cell were up 13.09 percent to US$4.38 as of Thursday’s close.
Five Prime Therapeutics
Closing out the list is Five Prime Therapeutics, a company that is developing protein therapeutics for serious diseases.
The company announced on Thursday a corporate restructuring, which includes the elimination of roughly 70 jobs. According to the press release, eliminations will occur before the end of the year and into next year.
Shares of Five Prime Therapeutics rose 12.66 percent last week to US$4.23 as of 1:26 p.m. EDT on Friday.
Data for 5 Top NASDAQ Biotech and Pharma Stocks articles is retrieved each Friday at 1:00 p.m. EDT using TradingView’s stock screener. Only companies with a market capitalization greater than US$50 million and lower than US$500 million prior to the week’s gains are included. Companies within the biotechnology and pharmaceutical sectors are considered.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.