This week, the Federal Reserve's decision to reduce interest rates by 50 basis points boosted share prices across the technology, construction, industrial, machinery, and financial sectors.
These seven mid-cap stocks were the best performers in the last week. Are they in your portfolio?
- Edgewise Therapeutics, Inc. (NASDAQ:EWTX) shares rocketed 50.19% after the company announced topline data of EDG-7500 from the Phase 1 trial in healthy subjects and the single-dose arm of the Phase 2 CIRRUS-HCM trial in patients with obstructive HCM.
- Bausch + Lomb Corporation (NYSE:BLCO) stock gained 28.36% after reportedly considering a sale.
- Bausch Health Companies Inc. (NYSE:BHC) shares upped 27.06%. The company's subsidiary Bausch + Lomb Corp (NYSE:BLCO) is reportedly considering a sale.
- Ascendis Pharma A/S (NASDAQ:ASND) stock gained 26.87% last week after the company announced topline data from its pivotal approach trial of a rare dwarfism candidate.
- Nuvalent Inc.'s (NASDAQ:NUVL) stock gained 23.50% after the company highlighted results for its ROS1 and ALK-Positive NSCLC programs and accelerated its development timeline. The company also announced a $350 million public offering, and multiple firms raised their respective price forecasts on the stock.
- Powell Industries, Inc. (NASDAQ:POWL) stock gained 22.61% last week as stocks in the broader industrial space jumped following the Fed's announcement to cut rates by 50 basis points, which could support investment and economic growth.
- GDS Holdings Limited (NASDAQ:GDS) shares jumped 21.28%.
Also Read:
- Constellation Energy, Li Auto And Carvana Are Among Top 11 Large Cap Gainers Last Week (Sept 16-Sept 20): Are The Others In Your Portfolio?
- Novo Nordisk, Chewy And FedEx Are Among Top 10 Large Cap Losers Last Week (Sept 15-Sept 21): Are The Others In Your Portfolio?
Photo by JHVEPhoto via Shutterstock