Shares of three Louisville companies moved sharply Monday, with Apellis Pharmaceuticals gaining 7.25%, manufacturer Sypris Solutions rising 6.25% and tobacco products company Turning Point Brands plunging 10.7%. The S&P 500 was up 0.07%, while the Nasdaq gained 0.71%.
Apellis’ shares on Monday closed at $29.16, up $1.97, or 7.25%. Shares reached an intra-day record high of $29.49.
The clinical-stage biopharmaceutical company had said late last week that it planned to double its workforce this year. It also expanded its leadership team with the hiring of a chief people officer.
The company last week also had said that it planned to study the use of an investigational drug, called APL-9, for gene therapies, and that it had begun Phase I testing with 20 healthy volunteers.
For the year, the company’s stock price has more than doubled.
Sypris Solutions, which supplies aerospace, military, construction and automotive industries, saw its stock price rise by 5 cents Monday, closing at 85 cents, up 6.25%. Trading volume was more than double the average, according to Yahoo Finance. The company has not issued any SEC filings in nearly a month. It remains in delisting danger because of its low stock price.
For the year, Sypris’ shares are up slightly, but they’ve lost more than half their value in the last year.
Turning Point Brands’ shares on Monday closed at $47.82, down $5.73 or 10.7%. The company had said Friday that it planned to acquire the assets of Solace Technologies for $15.25 million, including $8.25 million in cash and $7 million in performance-based restricted stock units.
Solace had sales of $10 million last year and operating earnings of $3 million. TPB said in a news release that Solace “is an innovative product development company which established one of the top e-liquid brands in the vapor industry.”
TPB said it would combine its Nu-X Ventures division with the Solace assets and establish the unit’s headquarters in Southern California.
Despite Monday’s plunge, the company’s stock price has risen nearly 76% this year.