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Investors are on the hunt for undervalued, underfollowed and emerging stocks to spot opportunities.
The rise of social media and retail traders gave way to countless methods to uncover new information. For some, this is overwhelming.
Benzinga’s Moneymaker Index uses a combination of proprietary data and pattern recognition to showcase five stocks each week that are just under the surface and warrant attention.
The index layers editorial commentary to help make sense of why these stocks are of interest and whether they broach an area for the investor and casual reader to watch.
Here is a look at the Benzinga Moneymaker Index for the week of Dec. 29, 2022.
Hoth Therapeutics: Clinical stage biopharmaceutical company Hoth Therapeutics HOTH finds itself on the Moneymaker Index as shares are surging over 100% on Thursday. The FDA announced it accepted an Investigational New Drug (IND) application for HT-001, a rash and skin disorder therapeutic from Hoth. The treatment is for cancer patients and is expected to enter Phase 2a trials in 2023.
Gorilla Technology Group: Artificial intelligence company Gorilla Technology Group GRRR went public in July 2022 via SPAC merger. The company finds itself on the Moneymaker Index for a second straight week with increased search activity across Benzinga and increased mentions on social media. Shares are up over 60% in the last five days.
Nio Inc: Electric vehicle company Nio Inc NIO joins the Moneymaker Index with increased interest in the company. Nio unveiled the EC7 at its Nio Day 2022.
Outside of Nio Day, the company also announced it is lowering its fourth-quarter guidance from a previous outlook of 43,000 to 48,000 vehicles to a new range of 38,500 to 39,500. Supply chain constraints and increased COVID-19 cases were cited as reasons for the lowered guidance.
Kala Pharmaceuticals: Clinical stage biotechnology company Kala Pharmaceuticals KALA saw shares rise Wednesday on the heels of its IND for the treatment of persistent corneal epithelial defect accepted by the FDA. KPI-012 is the company’s lead candidate and the FDA acceptance was called an important milestone by the company. A Phase 2b trial is expected to begin in 2023 with data presented in the beginning of 2024.
Minerva Neurosciences: Clinical stage biopharmaceutical company Minerva Neurosciences NERV saw shares trade lower Wednesday after news from the FDA that it would not file a new drug application for the company’s roluperidone, a treatment candidate for schizophrenia symptoms. The stock was previously a top short squeeze candidate in October and could see increased short interest after the latest setback.
See the latest in the Benzinga Moneymaker Index stocks to watch here.
That’s it for this edition of the Benzinga Moneymaker Index.
Stay tuned for next week’s report and follow along with Benzinga Pro for all the latest headlines and top market moving stories here.
Photo via Shutterstock.
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Image and article originally from www.benzinga.com. Read the original article here.