Volatile week ends in the red: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Arcturus Therapeutics Holdings Inc.(ARCT), Novavax Inc. (NVAX), Puma Biotechnology Inc. (PBYI), CMC Materials Inc. (CCMP) and Vir Biotechnology Inc. (VIR).

  • Arcturus Therapeutics Holdings Inc.(ARCT) shares skyrocketed after the biotech company announced positive news about studies of two of its mRNA COVID-19 vaccine candidates.
  • Novavax Inc. (NVAX) shares surged after the vaccine maker’s COVID-19 shot received clearance by the World Health Organization (WHO) for emergency use.
  • Puma Biotechnology Inc. (PBYI) shares popped following news that the pharmaceutical company had agreed to pay a $54.2 million settlement in a class action brought by investors, rather than continue to appeal.
  • CMC Materials Inc. (CCMP) shares jumped after semiconductor manufacturer Entegris announced it was acquiring the tech materials supplier in a $6.5 billion deal. 
  • Vir Biotechnology Inc. (VIR) shares climbed after the biotech company shared data that its COVID-19 antibody treatment, developed with pharmaceutical giant GlaxoSmithKline, was effective against the Omicron variant.

 

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Arcturus Therapeutics Holdings Inc.(ARCT) 12.47 (+36.07%) 47.04 Consumer Goods
Novavax Inc. (NVAX) 50.76 (+30.48%) 217.32 Consumer Goods
Puma Biotechnology Inc. (PBYI) 0.73 (+25.61%) 3.58 Healthcare
CMC Materials Inc. (CCMP) 38.12 (+25.60%) 187.05 Technology
Vir Biotechnology Inc. (VIR) 10.32 (+23.67%) 45.04 Consumer Goods

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Biohaven Pharmaceutical Holding Co. Ltd. (BHVN), Terminix Global Holdings Inc. (TMX), Invitae Corp. (NVTA), Pfizer (PFE) and Emergent BioSolutions Inc. (EBS).

  • Biohaven Pharmaceutical Holding Co. Ltd. (BHVN) shares soared after the drugmaker’s migraine medication was approved by Israel’s Ministry of Health, its first regulatory approval outside the US. 
  • Terminix Global Holdings Inc. (TMX) shares jumped following news that the pest control company was being acquired by British competitor Rentokil Initial in a deal valued at $6.7 billion.
  • Shares of medical genetics company Invitae Corp. (NVTA) shares climbed more than 14% with no specific news driving the move. 
  • Pfizer (PFE) recorded its best weekly gain since March 2009, with the pharmaceutical giant raising sales guidance in anticipation of more COVID-19 vaccine boosters. 
  • Emergent BioSolutions Inc. (EBS) shares were up after the vaccine maker announced that it had dosed the first participant in a Phase I study for its universal flu shot.

NYSE TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Biohaven Pharmaceutical Holding Co. Ltd. (BHVN) 25.15 (+25.22%) 124.88 Consumer Goods
Terminix Global Holdings Inc. (TMX) 6.53 (+17.42%) 44.01 Services
Invitae Corp. (NVTA) 2.31 (+14.43%) 18.32 Consumer Goods
Pfizer (PFE) 6.70 (+12.69%) 59.48 Healthcare
Emergent BioSolutions Inc. (EBS) 4.99 (+12.46%) 45.04 Healthcare

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Adagio Therapeutics Inc. (ADGI), Bakkt Holdings (BKKT), uniQure NV (QURE), Agile Therapeutics Inc. (AGRX) and The Lovesac Company (LOVE).

  • Shares of Adagio Therapeutics Inc. (ADGI) continued to fall as more data revealed that the biopharma company’s antiviral COVID-19 treatment candidate was far less effective against the Omicron variant.
  • Bakkt Holdings (BKKT) shares crashed after the crypto platform filed a registration statement to sell more than 230 million shares of its stock, causing a massive sell-off by investors.
  • uniQure NV (QURE) shares dropped following a disappointing update on clinical trials of the biotech company’s Huntington’s disease treatment.
  • Shares of birth control maker Agile Therapeutics Inc. (AGRX) tumbled 21% to a new yearly low. 
  • Shares of sofa retailer The Lovesac Company (LOVE) experienced a correction, following the previous week’s jump due to positive earnings.

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Adagio Therapeutics Inc. (ADGI) -21.75 (-65.45%)  11.48 Consumer Goods
Bakkt Holdings (BKKT) -4.54 (-31.66%)  9.79 Services
uniQure NV (QURE) -7.02 (-24.85%) 21.23 Consumer Goods
Agile Therapeutics Inc. (AGRX) -0.1399 (-21.20%) 0.52 Consumer Goods
The Lovesac Company (LOVE) -16.96 (-20.86%) 64.35 Consumer Goods

  

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Qudian Inc. (QD), Zepp Health Corp. (ZEPP), VTEX (VTEX), a.k.a. Brands Holding (AKA.US) and Gaotu Techedu Inc. (GOTU) all experienced negative movement over the past week.

  • Shares of Chinese microlender Qudian Inc. (QD) tanked following the release of third-quarter earnings results, sparking a sell-off that sent its stock to an all-time low. 
  • Shares from varying industries dropped with no company-specific news driving the moves, including Chinese parent company of Amazfit smart wearable devices Zepp Health Corp. (ZEPP), e-commerce platform VTEX (VTEX), and direct-to-consumer fashion platform a.k.a. Brands Holding (AKA.US).
  • Gaotu Techedu Inc. (GOTU) shares fell as the final deadline of a class action lawsuit on behalf of the Chinese tutoring company’s investors approached.

 

NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Qudian Inc. (QD) -0.5024 (-35.89%) 0.8976 Financial
Zepp Health Corp. (ZEPP) -1.42 (-23.32%) 4.67 Consumer Goods
VTEX (VTEX) -3.48 (-22.03%) 12.32 Technology
a.k.a. Brands Holding (AKA.US) -2.21 (-20.37%) 8.64 Services
Gaotu Techedu Inc. (GOTU) -0.50 (-19.84%) 2.02 Technology

 

Highlights and Lowlights

Following a short-lived comeback the previous week, all three US indices retreated for the third week out of the past four. The “Fear Index” climbed as the Fed decided on tapering bond purchases sooner, and rising COVID-19 Omicron cases pushed companies to reevaluate their outlooks for 2022. The resurgence, however, had many healthcare stocks outperforming other sectors; Pfizer led the way, posting its highest gains in over a decade.

Trading was volatile throughout the week, with the SPX500 and DJ30 slipping -1.9% and -1.7% respectively. The NSDQ100 registered the largest losses at -2.9%. 

 

What’s in Store for the Week?

Earnings season is winding down, but there are still a few big reports to come. Nike, Micron Technologies, General Mills and Rite Aid will post their earnings this week.

Markets will close early in a shortened week, since Friday is Christmas Eve but before they do, investors will be watching for November’s data on home sales, consumer spending and incomes. The University of Michigan will release its December Consumer Sentiment Index reading, which was surprisingly optimistic last month, but still remains near ten-year lows.


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