Last week, the Nordic growth stock markets fell, while the major indices continued their price increases in 2023. The week’s winner was Redwood Pharma AB, which was also on the podium last week. At the same time, there were large fluctuations in individual stocks, with last week’s healthcare winner becoming last week’s healthcare loser. Similarly, the worst-performing share of the year so far on First North Denmark ended up being the week’s winner. The large fluctuations provide an opportunity for stock-picking in shares that have taken (too) many knocks.
We have launched a new newsletter: Danish Bioetch Weekly, where we follow all the listed Danish biotech companies at home and abroad. Read the latest edition here. You can sign up for the newsletter here.
Over the past year, shares on the Nordic growth stock markets have underperformed both the Thomson Reuters Venture Capital Index and the C25 and S30 indices. In recent weeks, the other indices mentioned above have picked up, while the KPNGX index remains stagnant. The KPNGX index suffered a minor setback last week, falling 0.6%, while the Thomson Reuters Venture Capital Index (TRVCI) rose 1.5%. The KPNGX index is now at 89.96. The C25 and S30 indices, on the other hand, had a very good week with increases of 3.8% and 3% respectively. In the short term, higher returns on the Nordic growth stock exchanges are therefore probably still to be found among individual shares and stock picking.
Development of the KPNGX index over the past year
The 3 best performing stocks on the Nordic growth exchanges last week
Redwood Pharma AB (91%) is a pharmaceutical company. Its main focus is on the production of ophthalmic products. The products contain active substances used for the treatment of dry eye disease (DED), which is characterized by dryness, pain and burning. The disease is caused by inflammation resulting from gland dysfunction and the use of contact lenses. The company announced yesterday (Sunday) that recruitment for its clinical trial of RP501 for dry eye disease has been completed. In the previous, the stock also rose by 50%. Year-to-date, the stock is up 191%.
Zoomability AB (84%) develops, produces and sells electric vehicles. The products are mainly intended for use by people with disabilities and illnesses who have limited mobility in everyday life. Customers are private individuals across the European market, where the company sells through various partners. Last Friday, the share price rose after tests of the company’s product Zoom Uphill showed that the product meets requirements in terms of mechanics, electrical safety, environmental testing and safety. mechanical, electrical safety, environmental testing and secure systems.
Prostatype Genomics AB (82%) is active in medical technology. The company specializes in the development of medical-technical genetic tests used for the identification, analysis and further follow-up of prostate cancer. In addition to the main business, services and related ancillary services are also offered.
Share price development for Redwood Pharma AB, Zoomability AB og Prostatype Genomics AB the past year
First North Danmark
The Kapital Partner First North Denmark (KPFNDK) index fell 1.5% last week, which is slightly more than the other Nordic growth stock exchanges. The KPFNDK index now stands at 83.53 and has underperformed relative to the Thomson Reuters Venture Capital Index, the C25 index and the S30 index over the past year, while outperforming the overall Nordic growth stock markets. However, since the start of 2020, the index has fallen by 16%.
Development in KPFNDK-index the past year
Development at First North Danmark on a company level
The pump company Hydract A/S was the week’s winner with a 17% increase, followed by Movinn A/S and Alefarm Brewing A/S. The week’s winner, Hydract, was the worst performing stock year-to-date in the KPFNDK index before the week’s large increase. Alefarm Brewing A/S, Scape Technologies A/S and Samesystem A/S have done particularly well in 2023 with increases of 100-134% year-to-date.
Development on First North Denmark the past week (1W) and year to date (YTD)
This week’s developments for all Nordic healthcare stocks
The Nordic healthcare shares (Kapital Partner Healthcare Index/KPHC) fell 2.3% last week and are now at 78.32. The index has underperformed the larger C25 and S30 indices, but is roughly in line with the Nordic growth exchanges. Swedish Redwood Pharma AB (91%), Prostatype Genomics AB (82%) and Mendus AB (39%) made up the top 3. At the opposite end was Qlife Holding AB with a fall of 38%, which otherwise was last week’s big stock winner with a return of over 500%.
Development for the KPHC-index the past year
The 3 best performing stocks on the Nordic growth exchanges last week
Redwood Pharma AB (91%) is a pharmaceutical company. The main focus is on the production of ophthalmic products. The products contain active substances used to treat dry eye disease (DED), which is characterized by dryness, pain and burning. The disease is caused by inflammation resulting from gland dysfunction and the use of contact lenses. The company announced yesterday (Sunday) that their clinical study with RP501 for dry eye disease has completed enrollment.
Prostatype Genomics AB (82%) is active in medical technology. The company specializes in the development of medical-technical genetic tests used for the identification, analysis and further follow-up of prostate cancer. In addition to the main business, services and related ancillary services are also offered.
Mendus AB (39%) is active in medical technology. The company produces therapeutic vaccines used in oncology. The company is primarily engaged in the development of immunotherapy with a focus on the treatment of various serious tumors. Examples of diseases for which the products are further used include kidney and liver cancer.
Share price development for Redwood Pharma AB, Prostatype Genomics AB and Mendus AB over the past year
New newsletter from Kapital Partner: Danish Biotech Weekly
We have launched a new newsletter where we follow Danish biotech closely. We keep you updated on the companies’ news flow, new IPOs, study results, etc. We follow large and small companies in Denmark and abroad. For example, we follow Curasight A/S, Biosergen AB and Genmab A/S.
