Here are the top Russell 2000 (IWM) ETF stocks of 2024

May 07, 2024 07:47 AM PDT | By Invezz

Here are the top Russell 2000 (IWM) ETF stocks of 2024 — Image source: Invezz

Best-performing Russell 2000 ETF stocks

Still, the index has had some of the best-performing companies in Wall Street this year. Most of its top gainers are in the biotech industry, which has benefited from the ongoing buyouts by larger pharmaceutical companies.

A closer look at the top 20 gainers in the index shows that only 3 companies – Super Micro Computer, Carvana, and Oscar Health – are not in the biotech industry.

Janux Therapeutics (JANX) stock price has surged by over 478% as the company made progress in its cancer drug. It is working on a technology that targets specific tumor antigens and T cells. JANX007 and JANX008 have moved in the first phase of testing with encouraging results.

Viking Therapeutics (VKTX) share price has soared by over 313% this year as the company continued researching its weight loss drug. It recently published strong results that showed that patients who took one pill each day lost about 5.3% of their weight.

Investors hope that Viking Therapeutics will become a buyout target by one of the leading pharmaceutical companies. If this does not happen, the firm will likely struggle to compete with other moneyed companies like Eli Lilly, Novo Nordisk, and Biogen.

Longboard Pharmaceuticals shares have jumped

Longboard Pharmaceuticals’ stock price has surged by over 240% this year as it continues to develop drugs for patients with neurological and rare diseases. In its recent update, the company said that bexicaserin drug achieved seizure reductions of about 59.8% in seizures.

The other top performers in the IWM ETF are companies like Vera Therapeutics (VERA), Avidity Biosciences (RNA), Cullinan Therapeutics (CGEM), and Sana Biotechnology (SANA). All these stocks have soared by over 140%.

On the other hand, the worst-performing companies in the Russell 2000 index are Bakkt Holdings, Amylyx Pharmaceuticals, Liveperson, Spirit Airlines, and Weight Watchers. Bakkt stock tumbled by over 88% this year as the company issued a going concern warning.

Weight Watchers crashed after Oprah Winfrey left its board while iRobot has fallen after Amazon abandoned its buyout offer. Other top laggards are companies like Children’s Place, Digital Turbine, Sunnova Energy, and Microvast Holdings.

The post Here are the top Russell 2000 (IWM) ETF stocks of 2024 appeared first on Invezz

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