The Trader’s Watchlist: May 9, 2017

The markets are relatively flat ahead of the open, and the VIX, commonly known as the Fear Index, just hit 24-year lows yesterday, and it’s getting harder for some traders to find opportunities with the lack of volatility. However, there are some small cap stocks moving in the pre-market, and these are some small cap stocks on the trader’s watchlist today.

SCYNEXIS INC (NASDAQ: SCYX) shares are down over 18% during the pre-market at 7:00 AM ET, after the company reported its first quarter 2017 financial results last night. The company reported revenue of $64K, which was in line with its figure for the same period in the prior fiscal year. Additionally the SCYX reported a net loss of 19 cents per share.

According to SCYNEXIS President and CEO Marco Taglietti, M.D.,  “Although the recent regulatory action is causing some delay in the development of our intravenous formulation, we are progressing our oral development program as planned while we address the clinical hold on the IV formulation. We remain committed to advancing SCY-078 as a treatment for increasingly urgent global health threats. As recently presented at ECCMID, there is a growing body of SCY-078 clinical and nonclinical research highlighting the potential versatility of this compound against multiple invasive, drug-resistant and difficult-to-treat fungal infections, including Candida auris.”

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

 

Source: TradingView

There is one key support area around $2.45/$2.50, and SCYX broke below that during the pre-market (not shown in the chart).

Cleantech Solutions International (NASDAQ: CLNT) is trading higher by over 30% ahead of the bell, after YSK1860, an investment holding company, filed an SEC Form 3 and Schedule 13D, indicating that it acquired all of CLNT Chairman and CEO, Mr. Jinhua Wu, and his affiliates’ shares of CLNT. YSK1860 purchased approximately 416K for $2.33 per share. Now, CLNT CEO and his affiliates’ decision to sell their shares were based on personal reasons, and Mr. Jinhua Wu will remain as Chairman and CEO of CLNT.

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

Source: TradingView

Soligenix Inc (NASDAQ: SNGX) is up nearly 10% during the pre-market session after the company announced it was granted a Japanese patent, which could further extend protection around ThermoVax and include coverage of its ricin toxin vaccine candidate RiVax.

According to Soligenix President and CEO Christopher J. Schaber, “ThermoVax has successfully demonstrated that it can thermostabilize a number of different alum-adjuvanted protein antigens, including antigens for ricin, anthrax, human papillomavirus and Ebola.”

Take a look at SNGX on the daily chart:

Source: TradingView

Cytokinetics Incorporated (NASDAQ: CYTK) is trading nearly 10% lower during the pre-market after the company announced the pricing of an underwritten public offering of 5.26M of its common stock at a price of $14.25.  The company expects to raise gross proceeds of around $75M, and this offering is expected to close on May 12, 2017. Moreover, Cytokinetics granted the underwriter of the offering a 30-day option to purchase up to an additional 789K. According to finviz, CYTK had shares outstanding of 43.10M and floating shares of 40.55M, as of the close yesterday.

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

trader's watchlist

Source: TradingView

If you take a look at the chart above, CYTK previously formed a bullish pennant pattern. However, after the pricing of its public offering at $14.25, and the pattern failed to breakout.

Camtek Limited (NASDAQ: CAMT) shares are up over 7% during the pre-market trading session, after the company reported its first quarter 2017 financial results. Camtek reported a non-GAAP net income of $3.4M. Additionally it had revenues of $30.8M, which was ahead of its guidance and grew 26% year over year. Camtek also provided second quarter 2017 revenue guidance, and expects revenue to come in a range between $33M and $34M, which would be a 23% year-over-year growth rate at the midpoint.

Take a look at CAMT on the daily chart:

Source: TradingView

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