5 Recent Red-Hot IPOs Are Being Added to the Russell 2000 Next Week


After a sizable move following the IPO, this stock has pulled back nicely and offers an intriguing entry point. Neximmune Inc. (NASDAQ: NEXI) is another clinical-stage biotechnology company. It is engaged in developing therapies with curative potential for patients with cancer and other life-threatening immune-mediated diseases.

The company develops approaches to T cell immunotherapies based on its proprietary Artificial Immune Modulation technology. The company has two product candidates in human trials, including NEXI-001 in acute myeloid leukemia and NEXI-002 in multiple myeloma.

The company is developing a novel approach to immunotherapy designed to orchestrate a targeted immune response by directing the function of antigen-specific T cells.

As the company remains in its post-IPO quiet period, there are no analyst recommendations or price targets. Thursday’s last trade hit the tape at $23.06, a share, which was up over 9% for the day.

Ortho Clinical Diagnostic

This is perhaps a more conservative idea for investors looking to avoid biotech companies and has been around since 1939. Ortho Clinical Diagnostic Holdings PLC (NASDAQ: OCDX) engages in the vitro diagnostics business in the United States. The company offers automated instruments, as well as assays, reagents and other consumables that are used by these instruments to generate test results.

Its solutions include clinical chemistry and immunoassay instruments and tests to detect and monitor disease progression across a broad spectrum of therapeutic areas, including COVID-19 antibody and antigen tests. They also include immunohematology instruments and tests for blood typing to ensure patient-donor compatibility in blood transfusions, as well as donor screening instruments and tests for blood and plasma screening for infectious diseases.

The company also engages in contract manufacturing activities and provides ortho-care services. Its products are used in hospitals and laboratories, and in physician offices, clinics, blood banks, donor centers and other specialty settings.

Goldman Sachs rates it as a Buy with a $27 price target. Once again, no consensus per se, though many firms have coverage. The closing price on Thursday was $16.87 a share, after a gain of over 6% on the day.

These five very new companies will be added to the two Russell indexes on March 19. While only suited for very aggressive investors, the boost they could see from being added could very well move the stock prices higher. Remember active traders know this as well, so despite the potential buying pressure it makes sense to perhaps scale into trades.

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