KOSDAQ Top Market Cap Stocks, Fierce Battle for Positions

[Asia Economy Reporter Song Hwajeong] As market volatility increases, the competition for top positions among KOSDAQ market capitalization leaders is intensifying.

According to the Korea Exchange on the 23rd, the market capitalization gap between Pearl Abyss, ranked 3rd, and Celltrion Pharm, ranked 4th based on the previous day's closing price, was only 2.1 billion KRW. On the 21st, Celltrion Pharm overtook Pearl Abyss to claim 3rd place, but Pearl Abyss reclaimed the 3rd position the very next day.

While Celltrion Healthcare and HL Biopharma firmly hold the 1st and 2nd spots, the competition for 3rd place is the fiercest. At the beginning of this month, Seegene rose to 3rd place but currently remains at 7th. On the 24th of last month, Studio Dragon held 3rd place but has since dropped to 8th. CJ ENM, which was 3rd at the start of the year, fell to 8th but recently climbed back to 6th.

Additionally, Komipharm and Helixmith, which were in the top 10 at the end of last month, have fallen out of the top 10, replaced by Hugel and SK Materials.

With increased volatility due to the novel coronavirus disease (COVID-19), ranking changes have become more pronounced, especially as the sharp rises and falls of bio stocks related to COVID-19 have significantly impacted market capitalization rankings. Notably, Seegene and Celltrion Pharm showed the most remarkable market cap fluctuations. Seegene, ranked 29th at the end of February, saw its stock price surge as diagnostic kit stocks gained attention amid the spread of COVID-19 in March. Seegene recorded four limit-up days in March alone, securing 3rd place. Recently, it has shown signs of hesitation due to short-term price corrections. Celltrion Pharm also jumped from 15th at the end of February to 4th, driven by news of COVID-19 treatment development.

Kim Choonghyun, a researcher at Mirae Asset Daewoo, stated, "As the COVID-19 situation prolongs, global demand for diagnostic kits is increasing. Since testing equipment must be installed and operated by professionals, Seegene, which has many existing clients, is in a favorable position." He added, "Seegene’s main markets?Korea, Italy, France, Germany, and Spain?are regions with many confirmed COVID-19 cases, which is also positive." Mirae Asset Daewoo expects Seegene’s Q1 earnings this year to show sales of 80.2 billion KRW, a 191.8% increase year-on-year, and operating profit of 24.5 billion KRW, up 321.5%, significantly exceeding market expectations.

Celltrion is accelerating the development of COVID-19 treatments by collaborating with the Korea Centers for Disease Control and Prevention to select final antibody candidates for antibody therapy. Shin Jehun, a researcher at Hanwha Investment & Securities, said, "Celltrion was selected last month as the preferred negotiation partner for the urgent academic research project announced by the Korea Centers for Disease Control and Prevention and plans to enter Phase 1 clinical trials in July." He added, "Development of diagnostic kits is also underway, with plans to obtain approval from the Korean Ministry of Food and Drug Safety and European CE certification in May, as well as emergency use authorization in the United States."

This content was produced with the assistance of AI translation services.