S&P futures are down 0.3% in Wednesday morning trading after US equities finished higher on Tuesday. The narrative of stocks as an inflation hedge is keeping investors interested.
Oil up, gold up and Bitcoin (BTC) down.
Here are some of today's trending stocks:
Vyant Bio Inc (NASDAQ: VYNT)
Cancer genetics company Vyant Bio Inc (NASDAQ: VYNT) continues yesterday's rally. Vyant Bio Inc (VYNT) is trending after the stock closed at $1.35 on Tuesday, gaining more than 16.39% on its opening price and continuing its positive momentum with the price up by 18.42% over the past month.
The share price spike comes from a deal with OrganoTherapeutics to develop Parkinson's Disease treatment drugs. And VYNT stock is up a further 36% in pre-market trading today.
This is a reassuring development for the stock as VYNT shares are down by -70.72% in the past year, while the S&P 500 is 17% over the same period.
Direct Digital Holdings Inc (NASDAQ: DRCT)
Media company Direct Digital Holdings Inc (NASDAQ: DRCT) is enjoying another green day in the stock market. Shares of Direct Digital Holdings Inc (DRCT) rose by 12.17% yesterday.
The company is a full-service programmatic advertising platform with offerings across multiple industry verticals like travel, healthcare, education, financial services, and consumer products.
And DRCT stock is up a further 35% in early market trading after releasing positive Q4 and full-year 2021 financial results.
In Q4, revenue rose $12.9m, up 95% Y/Y. Its sell-side advertising segment grew to $6.7m during the quarter, while its buy-side advertising segment grew to $6.2m.
Operating income rose to $1.3m in Q4, up from $40k in Q4 2020. But the net loss also widened to -$2.1m compared to -$0.5m in 2020.
Full-year revenue rose 206% over 2020.
Adagio Therapeutics (NASDAQ: ADGI)
Biotech Adagio Therapeutics (NASDAQ: ADGI) is enjoying a pre-market rally. The ADGI share price is up 76% in early trading.
The reason for the jump is news Adagio's drug ADG20 (adintrevimab) is the first monoclonal antibody to meet primary endpoints with statistical significance across pre-and post-exposure prophylaxis and treatment for COVID-19. The company plans to seek US emergency use authorization.
This is a reassuring announcement for long-term shareholders. Yesterday, Adagio closed at $3.85, down -93.1% from its 52-week high.
Adagio Therapeutics, Inc. engages in the discovery, development, and commercialization of antibody-based solutions for infectious diseases with pandemic potential.
Lululemon Athletica Inc (NASDAQ: LULU)
Lululemon Athletica Inc (NASDAQ: LULU) stock is up 7% in early trading after reporting a strong Q4 and full-year results forecast.
In anticipation of the results, the company's stock climbed by 3.67% during Tuesday's session to settle at $343.97.
Lululemon also authorized a $1bn stock repurchase program, which shareholders welcome.
After a sensational run from 2017 to November 2021, LULU shares have pulled back. Investors concerned about future growth prospects and overvaluation have been growing cautious. However, the company is diversifying, and the share buyback will further encourage investor loyalty.
Sonoma Pharmaceuticals Inc (NASDAQ: SNOA)
Sonoma Pharmaceuticals Inc (NASDAQ: SNOA) is another pharma stock soaring today. SNOA stock is up 22% in pre-market trading after ending up 3% in yesterday's session.
The SNOA share price rise comes as Sonoma announced the launch of Microdox®, an urinary tract infection catheter and bladder rinse in New Zealand, Australia and South Africa.
Bruce Thornton, COO of Sonoma Pharmaceuticals, said:
“We are pleased to bring our partners this new indication for Microdox® that will help reduce urinary tract infections for their patients. Through the science and development of Microcyn® Technology our aim is to improve the quality of life for patients, including those that require a bladder and catheter rinse,”
