The market closed out the week in a rut. The S&P, Nasdaq, and Russell 200 are down more than 5%, the Dow almost 5%. Bitcoin has dropped by almost 60% year-to-date and is now wobbling around its psychological support of $20,000. Stock prices are tumbling, and bonds are being hit with the deepest losses in decades. While this dumpster fire of a market is reeling from impending rate hikes by the feds, some stocks are still making significant gains. Let’s check out the top gainers from last week after the dust settled.
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Coming in at number 1 with a one-week change of 118.39% is Akero Therapeutics. AKRO, a cardio-metabolic nonalcoholic steatohepatitis (NASH) company, engages in the development of medicines designed to restore metabolic balance and improve overall health. The company's lead product candidate is efruxifermin (EFX), an analog of fibroblast growth factor 21, which protects against cellular stress and regulates metabolism of lipids, carbohydrates, and proteins throughout the body.
AKRO closed out trading Friday at 26.02 with a trading volume of 1,225,611 shares. Shares skyrocketed 136.76% during market hours on Sep 13 after the company announced positive top-line data from its phase IIB HARMONY study. The study evaluated the safety and efficacy of efruxifermin (EFX) in patients with pre-cirrhotic non-alcoholic steatohepatitis (NASH), fibrosis stage 2 or 3 (F2-F3).
NASH is a progressive form of non-alcoholic fatty liver disease (NAFLD), characterized by excessive fat buildup in the liver, accompanied by inflammation and fibrosis, which may progress to cirrhosis, liver failure, cancer and death.
Coming in at number 2 is Dawson Geophysical Company. DWSN is up 83.93% closing trading Friday at 2.00 with a trading volume of 77,675.
Dawson Geophysical Company provides onshore seismic data acquisition and processing services in the United States and Canada. The company acquires and processes 2-D, 3-D, and multi-component seismic data for its clients, including oil and gas companies, and independent oil and gas operators, as well as providers of multi-client data libraries.
Dawson Geophysical's short percent of float has risen 50.0% since its last report. The company recently reported that it has 25 thousand shares sold short, which is 0.42% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.3 days to cover their short positions on average.
Rounding out the top 5 we have Zero Fox Holdings, AMTD Digital, and Akouos, Inc. ZFOX is up 74.33% with a closing price of 7.06 and 1,774,082 trading volume. AMTD ticket symbol HKD is up 66.39% with a closing price of 108.00 and trading volume of 1,045,037. AKUS is up 59.15% closing at 5.16 with a trading volume of 270,468.
Are you invested in any of these stocks? If so, when did you jump in and what prompted you to buy into that stock? I’m curious as to how certain signals get out.
