Top 5 Stocks with the Most Prominent Growth in August

The Top 5 companies that demonstrated the most prominent growth in August are ChemoCentryx Inc., Global Blood Therapeutics Inc., AST SpaceMobile Inc., Enovix Corporation, and Axsome Therapeutics Inc.

Selection criteria

• Stocks are traded in the NYSE and NASDAQ
• The stock price is over $2
• The companies are not funds
• Their market capitalisation is more than $2 billion
• Their average trading statistics for the last 30 days is over 750,000 stocks.

Growth is expressed in percentage as the difference between the closing prices on 29 July and 31 August 2022. The market capitalisation of each company is relevant to the time when the article was being prepared.

1. ChemoCentryx – 115.8%

Founded in: 1996
Registered in: US
Head office: San Carlos, California
Sphere: biotech
Platform: NASDAQ
Market capitalisation: $3.7 billion

ChemoCentryx Inc. develops therapy for autoimmune, inflammatory diseases, and cancer. The company focuses on orphan and rare illnesses.

Over August, the shares of ChemoCentryx Inc. (NASDAQ:CCXI) recorded a growth of 115.8% from $23.62 to $50.98. This impressive result is explained by the news that the company will be acquired by biotech giant Amgen Inc. for $3.7 billion. The parties plan to sign the agreement at the end of this year.

2. Global Blood Therapeutics – 105.7%

Founded in: 2011
Registered in: US
Head office: San Francisco, California
Sphere: biotech
Platform: NASDAQ
Market capitalisation: $4.6 billion

Global Blood Therapeutics Inc. develops therapy for a rare disease called sickle cell anaemia. The company delivers drugs to low-income patients.

At the beginning of August, it became known that Pfizer Inc. was buying Global Blood Therapeutics Inc. for $5.4 billion. This news sent the shares of Global Blood Therapeutics Inc. (NASDAQ:GBT) skyrocketing: over the last month, they recorded a 105.7% growth from $32.72 to $67.89.

The agreement will let Pfizer Inc. improve its position in the global rare haematology market.

3. AST SpaceMobile – 71%

Founded in: 2017
Registered in: US
Head office: Midland, Texas
Sphere: telecom services
Platform: NASDAQ
Market capitalisation: $2.2 billion

AST SpaceMobile Inc. is working on the world’s first space cellular broadband to be accessible by smartphones. Users will be able to switch from land networks to space ones. AST SpaceMobile Inc. will achieve this by using 4G and 5G technologies.

On 9 August, the company reported that its test satellite BlueWalker 3 had arrived at cape Canaveral and was preparing to be launched to low earth orbit. The launch is scheduled for mid-September, with no exact date known yet.

On the same day, the quotes of AST SpaceMobile Inc. (NASDAQ:ASTS) surged 9.8% to $8.29. The shares kept moving upwards for five trading sessions in a row, recording a total growth of 84.5%. Over August, the shares of the company climbed up 71% from $7.03 to $12.02.

In the middle of the month, AST SpaceMobile Inc. presented a report for Q2 2022, where it demonstrated growth of earnings by 161.9% to $7.3 million, compared to the same quarter last year. The net loss dropped by 87.6% to $8.1 million, and the loss per share decreased 84.6% to $0.06.

4. Enovix – 66.1%

Founded in: 2007
Registered in: US
Head office: Fremont, California
Sphere: electric equipment
Platform: NASDAQ
Market capitalisation: $3.5 billion

Enovix Corporation designs, develops, and produces new-generation lithium-ion batteries. The company appears on the Top 5 list of leaders of growth for the second month in a row. Over July, the shares of Enovix Corporation (NASDAQ:ENVX) recorded a 49.5% growth from $8.91 to $13.32, followed by a surge of 66.1% in August from $13.32 to $22.12.

Analysts attribute the impressive growth of last month to the positive financial results of Q2. In April-June, earnings of Enovix Corporation amounted to $5.1 million. At the same time, the net loss dropped by 92.1% to $1.1 million and the loss per share decreased by 93% to $0.01.

5. Axsome Therapeutics – 65.3%

Founded in: 2012
Registered in: US
Head office: New York, New York
Sphere: biotech
Platform: NASDAQ
Market capitalisation: $2.7 billion

Axsome Therapeutics Inc. specialises in developing new methods for curing diseases of the central neural system. Its drugs help against depression, overexcitement due to Alzheimer’s disease, migraine, narcolepsy, and fibromyalgia.

Last month, the shares of Axsome Therapeutics Inc. (NASDAQ:AXSM) recorded a 65.3% growth from $38.59 to $63.80. The biggest overnight growth happened on 19 August, when the shares of the biotech company rose 40.35% to $59.55.

This impressive reaction is attributed to the news that the US Food and Drug Administration (FDA) had approved Auvelity, its drug for treating a major depressive disorder in adults.

The shares that demonstrated the most prominent dynamics in August

In August, the most noticeable growth was demonstrated by the shares of ChemoCentryx Inc., Global Blood Therapeutics Inc., AST SpaceMobile Inc., Enovix Corporation, and Axsome Therapeutics Inc. The main reasons for this growth are the positive quarterly reports and agreements with other companies.

All the companies meeting the selection criteria mentioned above closed the month with positive dynamics.

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