Midday Watch: Biotech Rising Contenders & $10 High-Growth Stocks

Markets are starting the new year on a brighter note, with U.S. stocks edging higher as tech giants, chipmakers, and energy companies lead the charge. Bitcoin is also recovering, climbing above $97,000 after ending 2024 on a losing streak.

As of, 11:23 AM ET, the Dow was down -20.87 points, or -0.0491%, at $42523.36. The Nasdaq Composite added 5.35 points, or 0.03%, at $21017.5217. The S&P 500 rose 6.68 points, or 0.1136%, at $5888.3. Among the 11 major S&P 500 sectors, 6 showed negative movement, with Industrials leading the way with a -0.97% decrease.

This optimistic start contrasts sharply with the gloomy close to 2024, where the S&P 500 fell for four consecutive sessions, putting the typical Santa Claus rally in jeopardy.

Adding to the positive tone, the latest labor market data shows strength. Weekly unemployment claims dropped to a lower-than-expected 211,000, signaling resilience as 2025 kicks off.

Top Movers: Under $10

N2OFF Inc (NITO) is up 237.70% today to trade at the current level of $0.84. This comes after the company announced progress in its collaborative solar photovoltaic (PV) project in Melz, Germany, developed by Solterra Renewable Energy Ltd.

Carmell Corp (CTCX) zoomed 156.93% in today’s trade to $0.72. This rally can be attributed to news that the company entered into a definitive purchase agreement with PMGC Holdings Inc. and its wholly owned subsidiary, Elevai Skincare Inc. to acquire the assets related to its skincare and haircare business.

In current trading, SuperCom Ltd (SPCB) stock is at $8.90 after announcing that it has secured two new contracts with key agencies in Kentucky.

Expion360 Inc (XPON) rose 27.97% in the early hours of today's trading to move at $3.06 after reporting select preliminary, unaudited financial results for the fourth quarter ended December 31, 2024.

In the current trading session, NRX Pharmaceuticals Inc (NRXP) jumped 28.18% to $2.82 over a previous close of $2.20 after announcing the planned acquisition of the Kadima Neuropsychiatry Institute of La Jolla, CA, per the previously announced Letter of Intent, for the HOPE network.

Ex-Dividends Stocks

American Express Co (AXP) is about to trade ex-dividend tomorrow, meaning that investors who buy the stock after tomorrow will not be eligible for the next dividend payment. The company's next dividend payment will be $0.7 per share. It has fixed January 03 as the record date for the same and will pay the actual dividend on February 10. Last year, the company distributed a total of $2.70 to its shareholders. Based on the last year's worth of payments, AXP has a trailing yield of 0.91% on the current stock price of $297.84.

Shares of Sysco Corp (SYY) will be the talk of stock market on Friday as the stock will turn ex-dividend. The company's next dividend payment will be $0.51 per share, and in the last 12 months, it paid a total of $2.02 per share. Last year's total dividend payments show that SYY has a trailing yield of 2.65% on the current share price of $76.12.

Keurig Dr Pepper Inc (KDP) is also set to go ex-dividend tomorrow. The next dividend payment from KDP will amount to $0.23 per share. January 03 has been designated as the record date for this dividend, with the actual payout scheduled for January 17. In the previous year, KDP distributed a total of $0.88 to its valued shareholders. Considering the cumulative dividend payments from last year, the trailing yield for KDP stands at 2.73% based on the current stock price of $32.00.

Netapp Inc (NTAP) will be paying out a dividend of $0.52 per share to shareholders holding their shares as of the close of the business hours on the record date of January 03. Over the past 12 months, NTAP has paid out a total of $2.04 per share in dividends. Based on the total dividends paid out last year, NTAP boasts an impressive trailing yield of 1.75% on the current share price of $116.48.

Crypto Market Highlights

• Crypto exchange KuCoin launched a point-of-sale (PoS) system, enabling users to pay businesses with their exchange balances.

• Binance obtained its 21st global regulatory authorization from Banco Central do Brasil, a key step for crypto adoption in Latin America.

• Uniswap hinted that its upcoming Uniswap v4 iteration will be released soon, after missing its Q3 2024 launch target.

• Collapsed crypto lending platform Celsius filed an appeal against Judge John T. Dorsey’s ruling that blocked its claims for damages from FTX in its bankruptcy case.

• The digital asset industry speculates that the incoming U.S. presidential administration and Congress could lead to more favorable regulations and laws for crypto.

Most Shorted Stocks

Solaredge Technologies Inc (SEDG) was one of the most shorted stocks as of latest short interest figures, with 37.98% short interest. The days to cover ratio, a measure of how long it would take for all the short positions to be covered based on average trading volume, is 4.4. This represents a change of 2310000 shares, which corresponds to a +11.73% increase in short interest. The total value of the shares held short is estimated to be around $338.29 million. The average daily volume stands at 5.07M shares, and the market capitalization of the company is $890.69M.

The Groupon Inc with the symbol GRPN currently has a short interest of 38.01%. The short interest has changed by -2920000 shares. The days to cover ratio stands at 5.3. The estimated value of the shares held short is approximately $98.25 million. On an average day, 1.49M shares are traded, with the company's market capitalization totaling $482.34M.

The stock BMEA has a current short interest of 34.37%. The short interest percentage has experienced increase of +9.58% while there was a change of 950000 shares in short interest. The ratio indicating the time required to cover short positions is 11.4. The calculated worth of the shorted shares amounts to around $36.44 million. Trading activity averages at 852.10K shares per day, while the company's market capitalization stands at $139.84M.

Biotech Stocks to Watch

According to our ST Score evaluation, Fennec Pharmaceuticals Inc (FENC) emerges as a high-quality stock in the Biotech industry, attaining an impressive score of 68. The stock's profitability, performance, growth, and financial strength are strong. Additionally, it is neutral in terms of stock sentiment, Piotroski Score, and forecast.

Our ST Score also classifies Theratechnologies Inc (THTX) as a high-quality Biotech stock today, presenting a Score of 68. The stock has strong fundamentals in terms of profitability, performance, growth, and financial strength. However, it has weak stock sentiment, and forecast. The Piotroski Score are neutral.

Another stock in the category, Kiora Pharmaceuticals Inc (KPRX) has the ST Score of 67, which means that the stock carries the potential for higher returns. The stock is strong in profitability, performance, financial strength, and Piotroski Score. Growth, stock sentiment, and forecast suggest a neutral outlook.

Connect Biopharma Holdings Ltd ADR (CNTB) stock has the ST Score of 66 which implies that the Biotech company has a high probability of beating the market. The stock's strengths lie in its profitability, performance, financial strength, and Piotroski Score. However, it shows neutral outlook in growth, stock sentiment, and forecast.

Biocryst Pharmaceuticals Inc (BCRX) currently has the ST Score of 65, which signifies a huge upward potential. The Biotech stock's strong points are its profitability, performance, and growth. The stock's financial strength, stock sentiment, Piotroski Score, and forecast indicate a neutral outlook.

That's it for today. Thanks for reading. Good luck out there!

Best Regards,

Stocks Telegraph Team

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