Top Market Gainers Include Picard Medical, Biotech IPOs and Inverse ETFs
Font: Financial Modeling Prep • Oct 16, 2026
- Recent biotech IPOs Iambic Therapeutics (NASDAQ: IAM) and City Therapeutics (NASDAQ: CTY) posted strong gains.
- Inverse leveraged ETFs SMCZ and SMST advanced as their underlying stocks declined.
Iambic Therapeutics (NASDAQ: IAM) advanced 25.9% to $23.81. The company recently sold 9.375 million shares at $16 each, raising $150 million in gross proceeds through its IPO.
City Therapeutics (NASDAQ: CTY) gained 22.2% to $22.00 during its Nasdaq debut. The company priced its upsized IPO at $18 per share and sold approximately 11.1 million shares for gross proceeds of about $200 million.
The Defiance Daily Target 2X Short SMCI ETF (NASDAQ: SMCZ) rose 19.6% to $7.09, while the Defiance Daily Target 2X Short MSTR ETF (NASDAQ: SMST) gained 18.9% to $15.51. They seek approximately twice the opposite of the daily performance of Super Micro Computer (NASDAQ: SMCI) and Strategy (NASDAQ: MSTR), respectively.
These inverse ETFs reset daily, so their longer-term performance can differ substantially from negative twice the cumulative return of their underlying stocks.
Market Overview
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HODO
House of Doge Inc.
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$0.09
37.48%
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NWGL
CL Workshop Group Limited
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$0.23
5.88%
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SXTC
China SXT Pharmaceuticals, Inc.
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$0.07
-5.52%
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ZTG
Zenta Group Company Limited Class A Ordinary Shares
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$0.71
13.16%
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XLAB
Exascale Labs Holdings Inc.
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$2.35
72.79%
|
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SGRX
Sangrix Inc.
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$0.87
26.78%
|
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SDST
Stardust Power Inc.
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$0.03
-26.24%
|
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INTC
Intel Corp.
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$89.85
-5.79%
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NVDA
NVIDIA Corporation
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$214.13
-1.43%
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NVD
GraniteShares 2x Short NVDA Daily ETF
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$4.11
3.27%
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