Nova, MannKind Among Week’s Biggest MoversFriday, January 17, 2014
The Los Angeles Business Journal’s index of largest local public companies closed down slightly for the week.
The weighted LABJ Stock Index closed down 1 percent to 181.19 for the trading week ended Jan. 17. Gainers outpaced decliners 97 to 59, with five companies unchanged.
Among the biggest gainers was Nova LifeStyle Inc., which ended the week up 42 percent to $6.45. Friday was the first day the Los Angeles furniture company began trading on the Nasdaq, after moving from the Over-the-Counter Bulletin Board.
Among the biggest decliners was MannKind Corp., falling 18 percent to $5.79. Investors took profits after the Valencia biotech’s stock jumped after the company announced that a Food and Drug Administration panel will review an updated application for its inhalable insulin product in April.