Which Has the Biggest Driving Force? AVEO Pharmaceuticals (AVEO), Agenus Inc (AGEN) and SHOPIFY INC (SHOP)
New York, NY – GDP INSIDER – 05/22/2015.
This article discusses three companies: AVEO Pharmaceuticals (NASDAQ:AVEO), Agenus Inc (NASDAQ:AGEN) and SHOPIFY INC NPV SUB A (NYSE:SHOP)
AVEO Pharmaceuticals (NASDAQ:AVEO) increased by 39% in trading on Thursday, a move of $0.63 to $2.23. Volume was up dramatically to 94.2 million shares compared to its 3 million daily average. The stock increased following the release of a new study of its advanced renal cell carcinoma treatment. Management stated that results would be presented at the 2015 American Society of Clinical Oncology (ASCO) Annual Meeting. Results from an earlier trial were not strong enough for it to move to the next phase. Investors are betting that these results are different. If they are correct, there could be substantial upside, if now the stock will most like drop.
Agenus Inc (NASDAQ:AGEN) had a flat day in trading yesterday following the announcement that it will sell 11 million additional shares of common stock. The secondary offering is expected to generate $69.3 million at a price of $6.30 per share for the company before related costs for the underwriting. The immunology company develops innovative treatment for cancers and other diseases. Last week the company provided an update on its phase II study form brain cancer. The stock is up by 67% YTD, and we believe it can continue its climb higher.
SHOPIFY INC NPV SUB A (NYSE:SHOP) had a big day yesterday with the shares increasing my over 50% in a single day. The increase of $8.68 per share to close at $25.68 came following its IPO. The stock debut was positive for the IPO market and a good indication of investor’s outlook for the future of the company. It originally offered 7.7 million shares at $17 and raised $131 million. The provider of e-commerce platform previously reported 98% growth in sales during its first quarter. The outlook is positive.
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