Today Top 5 Gaining and Losing Stocks

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  Top.Gainers
 
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Top.Gainers highlighting the top gainers of the day, providing timely updates and insights on the market's highest achievers.
 

•  29 Sep 2025
 

•   BYND  
   
  +3.41%
•   ENTA  
   
  +8.52%
•   IOBT  
   
  +2.78%
•   JZXN  
   
  0.00%
•   MLTX  
   
  +2.63%

$WOLF dominated the gainers list with an unfathomable 1,734% surge to $21.62, driven by the decision to switch its incorporation from North Carolina to Delaware. This seemingly administrative move triggered what appears to be massive short covering in a heavily shorted semiconductor name that had been under severe pressure. Volume reached 19.98 million shares, actually below its 38.72 million average, suggesting the move happened with relatively light participation. The reincorporation to Delaware, a state known for business-friendly corporate law, likely improves Wolfspeed strategic flexibility and may signal upcoming corporate actions. For traders, this represents the kind of short squeeze that can generate life-changing returns, though chasing at these levels carries substantial risk given the parabolic nature of the move.

$ENTA surged 92% to $15.16 after delivering impressive Phase 2b trial results for Zelicapavir, its oral antiviral targeting RSV in high-risk adults. The RSVHR study demonstrated clinically meaningful benefits, validating years of development work and positioning Enanta as a serious player in the respiratory virus treatment space. Volume exploded to 16.42 million shares from a typical 251,000, reflecting genuine institutional interest rather than retail speculation. With RSV affecting millions annually and limited treatment options available, this data could attract partnership interest from major pharmaceutical companies looking to expand their infectious disease portfolios. The risk-reward profile here favors continued upside as the company advances toward Phase 3 trials.

$TLRY rallied 61% to $1.85 as cannabis-related stocks caught fire in a broad sector move that saw multiple names trading higher. Volume reached 364.77 million shares compared to an average of 56.06 million, indicating widespread speculative interest. Tilray Brands, along with SNDL and other cannabis plays, benefited from renewed optimism about federal legalization prospects or potential regulatory developments. The cannabis sector has historically traded on sentiment and policy speculation rather than fundamentals, making these moves highly susceptible to reversal. However, the coordinated strength across multiple names suggests institutional participation rather than isolated retail enthusiasm.

$POAI jumped 56% to $1.20 after announcing massive private placements totaling $344 million to initiate a digital asset treasury strategy focused on Aethir (ATH) tokens. The company is adding Shawn Matthews, former CEO of Cantor Fitzgerald, to its board, lending credibility to this strategic pivot. Volume surged to 52.81 million shares from just 202,000 typically, as traders digested this unexpected move into cryptocurrency holdings. The decision to build a digital asset treasury mirrors strategies employed by MicroStrategy and other companies, though the choice of ATH tokens rather than Bitcoin represents a higher-risk approach. This move transforms Predictive Oncology from a biotech play into a crypto proxy, fundamentally changing its investment thesis.

$MRUS posted a 36% gain to $93.67 after Danish pharmaceutical giant Genmab announced an $8 billion all-cash acquisition, the day's most significant M&A transaction. The deal values Merus's cancer treatment pipeline, particularly breakthrough therapy Petosemtamab for head and neck cancer, at a substantial premium that reflects confidence in the clinical data. Volume exploded to 38.02 million shares versus a typical 602,000 as arbitrageurs and institutional funds repositioned. The all-cash structure eliminates execution risk, making this a relatively safe trade for those seeking to capture any remaining spread to the deal price. For biotech investors, this validates the thesis that promising oncology assets command premium valuations in the current M&A environment.

On the losing side
$MLTX suffered a catastrophic 90% collapse to $6.25 after reporting mixed results from its pivotal skin disease treatment trial. The highly anticipated data for MoonLake Immunotherapeutics failed to meet the market's elevated expectations, triggering one of the year's most dramatic single-day crashes. Volume reached 77.22 million shares compared to an average of 697,000 as panicked shareholders rushed for the exits while opportunistic short sellers piled on. The mixed results suggest the therapy may still have potential but likely requires additional studies or patient population refinement, meaning years of additional development and hundreds of millions in capital expenditure. This type of binary outcome represents the existential risk inherent in clinical-stage biotechnology investing.

$IOBT plummeted 77% to $0.37 after the FDA recommended against the Biologics License Application for its melanoma vaccine following a pre-BLA meeting. This regulatory guidance effectively sends IO Biotech back to the drawing board, requiring additional clinical work that could take years and consume significant capital. Volume surged to 35.15 million shares from an average of 2.86 million as investors processed the implications of this devastating setback. The FDA's reluctance to accept the BLA suggests fundamental concerns about efficacy or safety data, making the path forward particularly uncertain. For those who held through this binary event, the lesson about position sizing in speculative biotech plays came at an extremely painful cost.

$JZXN dropped 60% to $0.43 after announcing a $5.5 million registered direct offering and concurrent private placement. Jiuzi Holdings' dilutive financing at what appears to be a significant discount to recent trading prices spooked shareholders who now face substantial dilution. Volume reached 8.18 million shares compared to a 3.42 million average as the news spread through trading channels. Small-cap Chinese companies often resort to dilutive financings when operating cash flows prove insufficient, and the terms of this deal suggest the company had limited negotiating leverage. The steep discount and concurrent private placement structure indicates institutional investors demanded favorable terms, leaving existing shareholders to absorb the dilution.

$MTEK crashed 51% to $2.07 after reporting first-half results that apparently disappointed investors who had expected stronger execution. Maris-Tech's volume increased to 1.46 million shares from 161,000 typically, though the relatively modest volume suggests this may be a thinly traded name where selling pressure creates exaggerated moves. Without access to the specific financial details, the magnitude of this decline suggests either significant revenue misses, margin compression, or concerning guidance about future quarters. For micro-cap technology companies, even minor operational stumbles can trigger disproportionate selling as liquidity evaporates.

$BYND fell 36% to $1.82 after launching an exchange offer and consent solicitation intended to eliminate over $800 million in debt with existing noteholder support. Beyond Meat's restructuring, while potentially beneficial long-term, signals the precarious financial position and the need for dramatic balance sheet repair. Volume reached 64.28 million shares versus a 2.19 million average as traders debated whether this represents capitulation or the beginning of a turnaround. The plant-based meat category has struggled with slowing growth and intense competition, forcing Beyond Meat into this defensive restructuring. For distressed debt investors, this may present opportunities, but equity holders face the prospect of continued dilution and operational challenges.

Bottom Line: MRUS offers the most compelling risk-reward with its locked-in $8 billion acquisition removing downside uncertainty while the all-cash structure ensures deal completion.

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