Small Cap Stocks Traders Are Watching: May 18, 2017

U.S. stock futures are relatively flat, following a hard selloff yesterday due to political risk surrounding the White House. The SPDR S&P 500 ETF (NYSEARCA: SPY), SPDR Dow Jones Industrial Average ETF (NYSEARCA: DIA), iShares Russell 2000 Index ETF (NYSEARCA: IWM) and PowerShares QQQ ETF (NYSEARCA: QQQ) all ended Wednesday down over 1.50%. There’s a lot going on in politics, but it’s hard to get a clear understanding of how it could affect the markets. However, there are some small cap stocks moving due to company-specific catalysts, ahead of the bell. Let’s get right into the small cap stocks watch list today.

GlycoMimetics Inc (NASDAQ: GLYC) shares are up around 30% ahead of the bell, after the company announced the release of its abstracts, as well as the receipt of FDA Breakthrough Therapy Designation for treatment of relapsed, or refractory, acute myeloid leukemia.

The company’s abstracts revealed new data from the company’s ongoing Phase II clinical trial of GMI-1271, which is an E-selectin antagonist, targeted at patients with acute myeloid leukemia (AML). The results indicated that patients who were treated with GMI-1271, coupled with chemotherapy, exhibited higher-than-expected remission rates and lower-than expected induction-related mortality rates. Additionally, GlycoMimetics received FDA  Breakthrough Therapy Designation for GMI-1271, which would help accelerate the development and review of the drug, and could speed up the pipeline process.

Here’s a look at GLYC on the 30-minute chart:

small cap stocks

Source: TradingView

Affimed N.V. (NASDAQ: AFMD) is up over 5% during the pre-market session, after the company reported its first quarter 2017 financial results yesterday. Dr. Adi Hoess, CEO of Affimed, stated, “We are continuously advancing our NK-cell engager pipeline in hematological and solid tumors, developing several well-differentiated programs…Furthermore, clinical data from a subset of patients in our GHSG-sponsored Phase 2a trial with AFM13 are very encouraging, as they provide further evidence of efficacy as monotherapy in heavily pre-treated patients.”

Additionally, Affimed is expected to present at the American Society of Clinical Oncology (ASCO) 2017 Annual Meeting between June 2 and June 6, 2017.

Check out AFMD on the daily chart:

Source: TradingView

The Children’s Place Inc (NASDAQ: PLCE) shares are up over 10% ahead of the bell, after the company announced its first quarter 2017 financial results. PLCE reported adjusted earnings per share of $1.95, while the Zacks Consensus Estimate was $1.65 per share. Additionally, the company reported revenue of $436.7M, 4.1% increase year over year. Additionally, its adjusted net income per diluted share increased 48% year over year.

PLCE also updated its outlook for the 2017 fiscal year, and expects its net income per diluted share to come in a range between $7.10 and $7.20, while the company’s previous guidance was a range between $6.50 and $6.65.

Take a look at PLCE on the 15-minute chart:

Source: TradingView

EnteroMedics Inc (NASDAQ: ETRM) shares are up over 10% ahead of the bell, after the company announced that the McGuire Veterans Affairs Medical Center successfully completed its first implant of vBloc Neurometabolic Therapy. According to Dr. James Maher, who performed the surgery, “Providing the best medical options to combat morbid obesity to the men and women who have served our country is a top priority and with vBloc Therapy available at the Richmond VAMC, we are now able to provide a safe and effective alternative to invasive, anatomy-altering and restricting procedures. There are well over one million veterans with obesity and the Richmond VAMC is committed to helping those in our communities succeed in their fight against obesity.”

Check out ETRM on the hourly chart:

Source: TradingView


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