LTRX, BUR, HSDT, CBAY, GATO Are Today’s Stock Market Gainers

WISCONSIN (CoinChapter.com) — US equities increased on Friday, but all three major indices have declined for the week after earlier data indicated an unusually tight labor market. The NASDAQ is down 2% for the week, the S&P 500 is down 1.4%, and the Dow Jones Industrial Average is down 1%.

Here are the five best stock market gainers:

Lantronix Inc. (NASDAQ: LTRX) Stock

Lantronix Inc. (NASDAQ: LTRX), a global provider of secure turnkey solutions for the Industrial Internet of Things (IoT) and Intelligent IT market, disclosed its Q4 financial results for fiscal 2023. The reported net revenue stood at $34.9 million, marking a 6 percent sequential increase, albeit a 3 percent decrease year-over-year.

The GAAP EPS was reported at ($0.05), showing a decrease from $0.07 in the prior year and an increase from ($0.08) in the prior quarter. Meanwhile, the non-GAAP EPS remained steady at $0.06, equalling the prior quarter’s results but slightly lower than the $0.08 of the previous year. Looking ahead, Lantronix expects to generate revenue within a range of $175 million for the fiscal year 2024.

Burford Capital Ltd. (NYSE: BUR) Stock

Buford Capital Ltd. (NYSE: BUR) released no news today contributing to a 17.09% stock price increase. However, the company, which is involved in the legal finance sector, has witnessed significant milestones. The prominence of Burford’s performance, which amassed over a billion dollars of new business in 2021 and 2022, was underscored by two prominent events.

Firstly, CBS’s 60 Minutes, the most watched non-sports primetime show in the US, featured a segment on legal finance last December, reaching nearly 10 million live viewers and extensively highlighted Burford’s role in bolstering businesses and the wider legal system. Secondly, the revelation that Sysco, a Fortune 100 food distributor, leveraged more than $140 million in legal finance transactions further illuminated the sector’s influence.

Helius Medical Technologies Inc. (NASDAQ: HSDT) Stock

Three days ago, Helius Medical Technologies Inc. (NASDAQ: HSDT), a leading neurotech company, announced its compliance with the NASDAQ’s minimum bid price requirement and other criteria for continued listing.

The NASDAQ Stock Market LLC’s Listing Qualifications staff provided formal notice of this achievement on August 31, 2023. Helius focuses on developing innovative therapeutic neuromodulation approaches for balance and gait deficits.

CymaBay Therapeutics Inc. (NASDAQ: CBAY) Stock

CymaBay Therapeutics Inc. (NASDAQ: CBAY) saw a significant surge in their shares, with a 13.06% increase following the release of encouraging results from a late-stage study of their investigational treatment, Seladelpar.

The treatment, aimed at combating primary biliary cholangitis – a rare chronic liver disease, proved effective in 62% of patients according to the study’s primary endpoint linked to serum alkaline phosphatase and bilirubin levels. This is a stark contrast to the 20% efficacy noted in patients given a placebo. In addition, critical secondary endpoints, including a substantial decrease in pruritis, an early symptom of the disease, were also met.

Gatos Silver Inc. (NYSE: GATO) Stock

Mexico’s Gatos Silver Inc. (NYSE: GATO), announced a significant extension to the Cerro Los Gatos (CLG) mine’s lifespan yesterday. The life of the mine has been extended from early 2028 to the end of 2030, an additional 2.75 years, with a forecasted 46% increase in total silver production.

Gatos Silver expects this increase to stem from additional drilling, which has significantly boosted the 2023 mineral reserves to 8.1 million tonnes. These reserves include 217 g/t silver, 4.32% zinc, 2.20% lead, 0.25 g/t gold and 0.15% copper, with a total of 56.3 million ounces of contained silver. Shares were up 12.69% on the news.