5 of Last Week's Biggest Winners
What's better than momentum? Mo' momentum. Let's take a closer look at five of this past week's biggest scorchers.
Let's start with Organovo. The 3-D bioprinting upstart was profiled in this column last week after ratting off three consecutive weeks of 10% gains. You don't see that every day. Well, it capped off that impressive three-week streak by soaring 52% this past week.
Organovo's goal is to "print" human tissue that can be used for drug testing. It offered up an encouraging business update in which it confirmed that it's still on track to release its first commercial product -- a liver toxicity assay test -- next year.
Ellie Mae bounce back after buyout speculation picked up. Inside Mortgage Finance reported that three bidders were offering as much as $1.1 billion for the mortgage software specialist. Takeover buzz began building this summer, but investors cooled on Ellie Mae as mortgage originations and refinance applications began to slip.
Kandi Technologies moved higher after the Chinese maker of electric vehicles announced that it will soon deliver the first group of four-passenger pure electric sedans that will be part of a public electric-vehicle sharing systen in Hangzhou.
Arena Pharmaceuticals continued to move higher after expanding a marketing relationship for its weight-loss drug during the prior week. It then capped off the week with WallachBeth initiating coverage with a "buy" rating.
Finally we have SINA moving higher after posting well-received quarterly results. SINA cranked out an adjusted profit of $0.42 a share on $184.6 million in revenue. Analysts were holding out for earnings of just $0.32 per share on $178.6 million in revenue.
Keep the good vibes coming
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The article 5 of Last Week's Biggest Winners originally appeared on Fool.com.Longtime Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool recommends Ellie Mae and SINA and owns shares of SINA. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.