Avidity Biosciences And CleanSpark Were Among The 10 Biggest Mid-Cap Stock Gainers Last Week (June 9-June 15): Are These In Your Portfolio?
Portfolio Pulse from Lekha Gupta
Avidity Biosciences, CleanSpark, and other mid-cap stocks saw significant gains last week. Avidity Biosciences surged 50.15% due to positive trial data, while CleanSpark gained 13.31% amid Bitcoin strength. Other notable gainers include Iris Energy, Hims & Hers Health, John Wiley & Sons, Element Solutions, Enovix, Axcelis Technologies, Intellia Therapeutics, and Korn Ferry.
June 16, 2024 | 6:25 pm
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POSITIVE IMPACT
Axcelis Technologies shares advanced 12.70% as semiconductor stocks gained on softer-than-expected CPI figures and AI optimism.
The stock's rise is driven by sector-wide gains and positive macroeconomic data.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
CleanSpark shares gained 13.31% amid strength in Bitcoin following softer-than-expected May CPI figures.
The stock's rise is linked to Bitcoin's performance, which is influenced by macroeconomic data.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Enovix stock price escalated 12.97% as shares of several industrial companies gained amid overall market strength following positive inflation data.
The stock's rise is part of a broader market trend driven by positive macroeconomic data.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Element Solutions shares grew 13.46% after raising Q2 and FY24 guidance, with Mizuho and BMO Capital raising their price forecasts.
The stock's rise is driven by raised guidance and positive analyst revisions, indicating strong future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Hims & Hers Health shares rose 15.29% last week.
The stock's rise indicates positive market sentiment, though specific catalysts were not mentioned.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Iris Energy shares surged 24.31% after Cantor Fitzgerald assumed an Overweight rating and announced a $23 price target.
The stock's rise is driven by a positive analyst rating and a new price target, which typically boosts investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Korn Ferry shares increased 8.13% following the company’s Q4 earnings, with analysts raising price forecasts.
The stock's rise is due to positive earnings and raised analyst price forecasts, indicating strong future performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Intellia Therapeutics stock price upped 12.08% last week.
The stock's rise indicates positive market sentiment, though specific catalysts were not mentioned.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Avidity Biosciences shares jumped 50.15% following positive Phase 1/2 trial data for muscle disorder therapy.
The significant price increase is directly tied to positive clinical trial results, which is a strong indicator of future potential.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
John Wiley & Sons shares rose 14.07% after reporting Q4 adjusted EPS and sales that beat estimates.
The stock's rise is due to better-than-expected earnings, which is a strong positive indicator.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85