NASDAQ Stocks Momentum List: NVNO, ONDS, DMTK, ALBT, SEEL

The Nasdaq is one of the biggest stock exchanges in the world and offers investors hundreds of thousands of stocks to choose from every day. This feature is going to provide you with a quick look into some of the NASDAQ-listed stocks that have gained momentum in recent days.

enVVeno Medical Corporation (NASDAQ:NVNO) – was one of the active gainers in Wednesday’s session. The stock soared 27.50% to close at $4.64 on above-average volume. Moreover, the stock has soared 59% in the past month.

On July 5, enVVeno Medical Corporation came up with an update with regards to its SAVVE Surgical Anti-reflux Venous Valve Endoprosthesis) United States pivotal study for its VenoValve product.

The late-stage medical devices company is based out of Irvine, California and is involved with the development of innovative bioprosthetic (tissue-based) solutions. Those solutions are meant to enhance the standard of care for different diseases. The study is a non-blinded, single-arm, multi-center, prospective study of 75 CVI patients. The company noted that it had enrolled 57 patients for the study and expected that the enrolment would be completed by the end of 2023.

The Chief Executive Officer of the company Robert Berman noted that everyone at the company was highly encouraged by the pace of the enrolment drive over the previous months. He went on to add that he was confident that full enrolment would be reached by the end of the year. The progress made by the company was significant in terms of enrolment, given the challenging hospital environment, he asserted.

Ondas Holdings Inc (NASDAQ: ONDS) – The company is one of the leading private wireless data solutions providers through its business unit Ondas Networks Inc.

Additionally, the company also provides commercial drone solutions through American Robotics Inc and Airbiotics Ltd. The latter is operated as a separate business and is called Ondas Autonomous Systems. Last week, it emerged that the company’s founder and Chief Executive Officer Eric Brock had been appointed to the Board of Directors of the Commercial Drone Alliance (CDA). CDA is an organization which is made up of the top drone organizations.

It collaborates closely with the main policymakers at the White House, Congress, the Federal Aviation Administration (FAA), and the Department of Transportation. Brock noted at the time that joining the CDA as a member of the board was a major opportunity for Ondas Holdings given the pivotal role that is played by the organization.

After a recent slump, the stock rebounded about 26.70% in yesterday’s session. However, the stock is still down 70% over the past year and trading below all its key moving average prices.

DermTech Inc (NASDAQ: DMTK) – It is a leading genomics company that is involved in dermatology. DermTech Inc is involved in developing a new class of medicines enabled by precision dermatology due to its non-invasive skin genomics technology.

The company seeks to improve the lives of millions through its methodology. Yesterday, the company announced that it had stuck up a beneficial coverage policy with a Blues plan in the state of Michigan. It was a significant development since it would boost access to the foundational assay of the DermTech Melanoma Test or DMT for around 4.5 members of the plan.

The company already signed a contract that had become effective in August 2022. The senior director of payer access at the company Chris Murphy noted that it was an exciting development for DermTech. Last month the company announced that it was going to opt for restructuring options for capitalizing on growth opportunities for the DMT. The company also noted that it intended to suspend pipeline initiatives, reduce overall expenses significantly and streamline operations.

After a brief consolidation, the stock went up 19.56% on Wednesday, extending its monthly rally to over 45%. Nevertheless, the stock is down 51% over the past year.  

Avalon GloboCare Corp (NASDAQ: ALBT) – stock rebounded nicely in yesterday’s session. The stock went up 11.36%, trimming its monthly fall to 21%. The stock is trading far from its 52-week high of $8.05.

The commercial stage company is involved in the development and delivery of precision diagnostics and clinical laboratory services.

Avalon GloboCare Corp is focused on assuming a major role in diagnostic testing through the use of its proprietary technology. Yesterday it emerged that Laboratory Services MSO LLC had inked an exclusive Master Service Agreement with the firm GeneX Laboratory Professional Corp. It was a significant development since Avalon GloboCare Corp holds a 405 stake in Laboratory Services MSO.

GeneX is a CAP-accredited and CLIA-certified laboratory that has been lying dormant. Hence, it had been seeking partners to put its license networks to use. GeneX holds licenses with major service providers across the nation. The tests would be performed through Laboratory Services MSO’s infrastructure following the agreement.

Seelos Therapeutics Inc (NASDAQ: SEEL) stock has been trending up over the past few months and formed a nice higher highs and higher lows pattern. The stock went up another 10.80% on Wednesday and made a new 52-week high of $1.65. The stock has soared 138% so far this year, outperforming the broader market.

 The clinical-stage biopharmaceutical company is focused on developing therapies directed at rare diseases and nervous system disorders. On June 22 Seelos Therapeutics Inc announced that the enrolment of the registration study of SLS-002 had been closed. The product is meant for the treatment of Acute Suicidal Ideation and Behavior (ASIB) with Major Depressive Disorder (MDD) in adults.

The chairman and Chief Executive Officer of the company Raj Mehra spoke about the development as well. He noted that the closing of the enrolment was a major milestone for Seelos He went on to thank the hard work that had been put in by the clinical team in completing the enrolment.