Shares of Novo Nordisk (NYSE: NVO) were moving higher on Wednesday. The company's stock gained 4.9% as of 1:50 p.m. ET, but gained as much as 5.8% earlier in the day. The leg up comes as the S&P 500 (SNPINDEX: ^GSPC) gained 0.

KEY TAKEAWAYSNovo Nordisk's U.S.-listed shares rose 5% in intraday trading after the Ozempic and Wegovy maker's better-than-estimated quarterly results offset slower 2025 sales growth projections amid "intensifying competition.

On the charts, today's pop has NVO on track to snap a three-day losing streak. The stock still hasn't recovered from its mid-December bear gap, after which it hit a Jan. 17, 52-week low of $78.17 amid pressure at the $89 level. Year-over-year, the shares are down 26.2%.