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Saturday, Jun 25, 2022
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Midday Stock Roundup

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Major U.S. stock indexes rose in Monday midday trading after several weeks of consecutive losses, and amid improving investor optimism.

The S&P rose 1.5% to 3,960.76, the Dow increased 1.9% to 31,845.76 and Nasdaq was up 0.9% to 11,458.11 during midday trading.

Crude oil was flat at $110.30 a barrel.

Gold increased 0.4% to $1,849 an ounce.

The yield on a 10-year Treasury bond rose 2.69% to 2.862%.

 

HEALTHCARE

Tustin-based Avid Bioservices Inc. (Nasdaq: CDMO) fell 5.9% to $11.92. With a market cap of $736 million, shares of the biopharmaceutical contract manufacturer have fallen about 57% since the beginning of this year.

Evolus Inc. (Nasdaq: EOLS) was off 4.7% to $11.60 with a $652 million market cap. With recent gains in the past month, Wall Street analysts predict an estimated price target of $16.33 indicating a 34% increase for the Newport Beach-based aesthetics drugmaker, according to Zacks Equity Research. Shares are currently trading at about half their average daily volume.

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