The overall market looks like it will be opening higher this morning. However, nothing really exciting worth noting about. Seems like our usual, grind higher, non-eventful day. But that shouldn’t deter us. In fact, there are usually a couple symbols worth trading on any given day in the small cap space. Here are some that have caught our attention in the pre-market:
Dynavax Technologies Corporation (NASDAQ: DVAX) is up over 10% during pre-market trading due to its announcement of the U.S. Food and Drug Administration informing the company that the Vaccines and Related Biological Products Advisory Committee will review its Hepatitis B vaccine. DVAX had a pre-market high of $7.50 and a pre-market low of $6.15. Now, the stock has a 52-week range between $3.20 and $23.62, and it’s still over 65% below its 52 week high.
The stock recently broke above its 20- and 50-day SMAs, and this catalyst could cause the stock to fill the gap between the $6.95/$7.00 area and the $9.00 level.
BioCryst Pharmaceuticals, Inc (NASDAQ: BCRX) is up over 5% in the pre-market, after announcing that Mundipharma obtained regulator approval, from the Ministry of Health, Labor and Welfare in Japan, of its treatment of relapsed Peripheral T-Cell Lymphoma (PTCL). This would be the first country in the world to make Mundesine available for the treatment of PTCL, potentially generating higher revenues for the company.
BCRX hit a pre-market high of $9.25 and a pre-market low of $8.40. The stock is trading at the upper end of its 52-week range between $2.49 and $9.25. Now, the stock has been trading above its 20-, 50- and 200-day SMA, and after this news.
Syneron Medical Ltd (NASDAQ: ELOS) shares resumed for trading at 7:30 AM, after it announced its agreement to be acquired by funds advised by Apax Partners for $11.00 in a cash deal, an estimated value of $397M. ELOS hit a pre-market high of $12.75 and a pre-market low of $10.95, but the stock is trading closer to the $11 area now.
Akari Therapeutics PLC (NASDAQ: AKTX) shares were down just under 5% during pre-market trading. The stock hit a pre-market high of $12.25 and a pre-market low of $10.23. The company announced it would be presenting at the Jefferies Complement Symposium today. Additionally, the company filed a Form 20-F, after the close on Friday. Now, AKTX’s weak premarket trading could just be due to some good ole’ profit taking. The stock broke above its 20-, 50- and 200-day SMA on Friday, and its RSI rose above 85, potentially signaling some traders to take profits.
Infinity Pharmaceuticals Inc (NASDAQ: INFI) shares were up over 10% due to its updated Phase I data for its tumor treatment, which was well tolerated both alone and in combination with Bristol Myers Squibb’s Opdivo. INFI had a pre-market range between $3.41 and $3.91, at the time of this writing. Now, the stock has traded in a 52-week range between $0.84 and $6.63. INFI has recently broken above its 20-, 50- and 200-day SMA, and it’s been testing the 20-day SMA. However, after its Phase I data news, the stock could have a well-established uptrend.
Arotech Corporation (NASDAQ: ARTX) shares were trading higher by over 5% during the premarket, after the company received a follow-on contract for the U.S. Army’s Virtual Clearance Training Suite, worth $41.1M. ARTX hit a pre-market high of $3.55, and it could breakout of its recent downtrend. Now, the stock could break above its 20- and 200-day SMA today, which could signal a reversal of trend.
Here are some economic indicators you should focus on today:
- PMI Manufacturing Index at 9:45 AM ET, the prior level was 54.2.
- ISM Manufacturing Index at 10:00 AM ET, the previous level was 57.7, and the consensus estimate is 57.1, with a consensus range between 56.0 and 58.5
- Construction Spending at 10:00 AM ET. The previous month-over-month change was -1.0%, and the consensus estimate is 1.0%, with a range between 0.7% and 1.8%.
