Sunday, December 4, 2022

G1 Therapeutics has jumped 26% since May IPO

G1 Therapeutics gained 9.9%, two weeks after its IPO. The company was founded in 2008 as G-Zero Therapeutics and spun out of the Lineberger Comprehensive Cancer Center at UNC Chapel Hill. Hatteras Venture Partners of Chapel Hill and Wilmington investor Fred Eshelman’s venture firm are among the largest shareholders.

It was the best performer in the Capital Investment Cos./Nottingham Index of Carolinas-based public companies for the week ended June 2 among companies with shares trading for at least $10.

GI Therapeutics  (GTHX) — 9.9% — $18.94 –  Cancer drugmaker went public in May at $15, raising $105 million. Based in Research Triangle Park.

Benefitfocus  (BNFT) — 7.6% — $35.45  Software company’s shares have gained 17% over the last month. Based in Charleston, S.C.

Insteel Industries (IIIN) — 5.7% — $33.12 -Mount Airy-based wire maker has increased 24% over the last year.

Biggest decliners

3D Systems (DDD)  (-6.1%) $20.68 — Shares of Rock Hill, S.C. -based 3D printer manufacturer are volatile. CNBC’s Jim Cramer said to avoid the stock in a broadcast last week.

Cato (CATO) (-5.8%) $19.41  — Charlotte-based apparel company has no debt and owns lots of real estate, but it faces fears of losing sales to online retailers. Shares have lost 49% in the last year. Will controlling Cato family take the company private?

Bank of America (BAC) (-3.4%) — $22.45 The bank’s stock moves on perceptions if interest rates will rise or not. Higher rates means higher profits for giant consumer bank. Shares have gained 56% in last year.

David Mildenberg
David Mildenberg
David Mildenberg is editor of Business North Carolina. Reach him at

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