Top 5 Biotech Stocks Dominating Retail Investor Conversations In 2024
By Stocktwits Inc | First Published Dec 26, 2024, 11:21 PM ISTFrom Tonix Pharmaceuticals’ progress on fibromyalgia treatments to Nvidia-backed Recursion Pharmaceuticals, these stocks sparked significant message volume growth on Stocktwits.
Biotech stocks, particularly in the small- and mid-cap space, were hot topics among retail investors in 2024, often spurred by major announcements or clinical developments.
Collectively, these stocks attracted significant chatter on Stocktwits.
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Here are the top five biotech stocks with the highest message volume growth this year:
Tonix Pharmaceuticals Holding Corp. (TNXP): +47,066% Message Volume
Tonix focuses on developing therapies to treat and prevent diseases. Its TNX-102 SL, a non-opioid analgesic for fibromyalgia, gained attention when the FDA accepted its New Drug Application in December. Earlier in the year, the company also reiterated its commitment to developing an mpox vaccine. Despite these milestones, TNXP shares are down over 97% this year.
Candel Therapeutics Inc. (CADL): +16,000% Message Volume
Candel develops viral immunotherapies targeting cancer. Its lead product, CAN-2409, is under trial for various cancers, including prostate and non-small cell lung cancer. Positive late-stage results released this month for CAN-2409 in prostate cancer drove retail interest. Shares of CADL are up over 500% this year.
Cardio Diagnostics Holdings Inc. (CDIO): +11,650% Message Volume
Cardio Diagnostics gained traction with its AI-powered PrecisionCHD test for coronary heart disease. The test demonstrated significant cost-saving potential in healthcare, according to the company. Cardio also received final pricing determinations from the Centers for Medicare & Medicaid Services for its products. Its stock has fallen nearly 63% year-to-date.
Recursion Pharmaceuticals Inc. (RXRX): +9,600% Message Volume
Recursion uses AI and automation to discover medicines. A $50 million investment from Nvidia to support AI-driven drug discovery efforts primarily sparked significant retail interest this year, although RXRX shares have declined 22% so far in 2024.
Galectin Therapeutics Inc. (GALT): +5,800% Message Volume
Galectin’s focus on fibrotic and inflammatory diseases, led by its drug belapectin, caught investors’ attention despite mixed trial results. While the drug didn’t meet statistical significance for a key endpoint in an early liver disease trial, further data analysis is expected in early 2025. GALT shares are down over 48% this year.
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