Small cap
stocks making big moves on Friday, December 12, 2014 (as of 4 pm EST), as
reported by Hassan Malik, SmallCapPower.com
New Relic Inc. (NYSE: NEWR)
shot up 48% to $33.99 following the software analytic company’s stock market
debut on Friday. New Relic raised $115 million ahead of its IPO by pricing
shares at $23, up from a previous range of $20 to $22, which itself was an
increase from an initial $18 to $20 offering. With such a big jump, some
investors may be wondering if New Relic has gotten too high on its first day of
trading, but CEO Lew Cirne declines to speculate on that, saying he is not an
expert in valuing company: “The best we can do is keep delivering incredible
products that amaze our customers.”
As well,
shares of ChemoCentrym, Inc. (NASDAQ: CCXI)
rallied 25% to $5.60 after the clinical-stage biopharmaceutical company
announced what it called positive top-line 52-week data from its Phase II
clinical trial in diabetic nephropathy with CCX140, an inhibitor of the
chemokine receptor known as CCR2. The trial was successful in reducing the
urinary albumin creatinine ration amongst patients seeking treatment.
Sonic Foundry, Inc. (NASDAQ: SOFO)
stock, meanwhile, sank 23% to $7.74 on Friday after the company missed revenue
targets in its latest quarter. Revenue for Q4 increased 25% to $8.5 million,
primarily due to acquisitions of Mediasite KK and MediaMission BV and higher
units sold. The results, however, missed the Zacks consensus estimate of $11
million.
