Small Cap Stocks Traders Are Watching: May 5, 2017

The markets look to open up flat, after the U.S. Employment Situation data was released at 8:30 AM ET. Nonfarm payrolls grew by 211K month over month, while the consensus estimate was 185K. Additionally, the unemployment rate for the month of April came in at 4.4%, while the consensus estimate was 4.6%. This could be a signal that an interest hike might just happen next month. The final round of the French Presidential election is on Sunday, and the markets could be choppy. However, there are some small cap stocks moving due to some company-specific catalysts, and these are some small cap stocks traders are watching today.

InVivo Therapeutic (NASDAQ: NVIV) shares are trading over 20% lower in the morning sessions, after the company filed an SEC Form 10-Q. The company reported its first quarter 2017 financial results and provided clinical update. The company reported a net loss of approximately $6.4M, or 20 cents per diluted share, which was primarily due to the increase in R&D spending.

Additionally, NVIV provided a clinical and regulatory update, and noted that two patients in its INSPIRE study revert back to a complete AIS A spinal cord injury. That in mind, this could cause a roadblock for the company. In turn, the clinical update prompted Raymond James to downgrade NVIV from Strong Buy to Outperform, and cut its price target from $10 to $6.

Here’s a look at NVIV on the daily chart:


Synchronoss Technologies Inc (NASDAQ: SNCR) shares are up over 15% this morning, after Silver Private Holdings LLC increased its stake in SNCR. In the Form 4 filing, it noted that the firm purchased over 1M shares of the company, and currently has a 12.93% stake in SNCR. Here’s a look at SNCR on the daily chart:


Puma Biotechnology Inc (NASDAQ: PBYI) is currently down over 10% in the morning session, after the company filed an SEC Form 8-K, which stated that its Senior Vice President of Regulatory Affairs and Project Management Dr. Robert Charnas notified the company that he would be resigning from Puma Biotech for health reasons, which would be effective on May 15, 2017. Keep in mind Puma Biotech recently announced that the FDA Advisory Committee would review Neratinib on May 24, 2017. Take a look at PBYI on the daily chart:


American Superconductor Corporation (NASDAQ: AMSC) is trading over 10% lower in the morning session, after the company announced the termination of a material definitive agreement and its filing of a Form 424b5. In its 424b5, the company did not provide the offering price or the amount being offered. However, AMSC noted that it intend to use the proceeds from the offering for growth initiatives in its Grid segment.

American Superconductor previously entered into an At Market Issuance Sales Agreement with FBR Capital.

In its SEC Form 8-K filing, FBR stated

“The Company gave notice to FBR of the termination of the Sales Agreement, effective on the 10th day following such notice pursuant to the terms of the Sales Agreement, contingent on the Company pricing and closing an underwritten public offering of its securities. The Company decided to terminate the Sales Agreement because it does not intend to utilize the Sales Agreement to raise additional capital. The Company did not incur any termination penalties as a result of the termination of the Sales Agreement.”

Here’s a look at AMSC on the daily chart:



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