Small
cap stocks making big moves on Wednesday, May 14, 2014 (as of 4 pm EST)
Summer Infant, Inc. (NASDAQ: SUMR)
shares surged 52% to $2.52 on volume of more than 4.6 million shares as the
distributor of juvenile health, safety and wellness products reported Q1
revenue of $50.8 million, surpassing the consensus estimate of $45.22 million.
Roth Capital also upgraded the stock to ‘Buy’ from ‘Neutral’.
As well,
shares of Sutor Technology Group Limited
(NASDAQ:
SUTR) slid 28% to $1.30 as the China-based manufacturer and distributor of
finished steel products announced that its third-quarter revenue fell 30.9% to
$96.4 million, while net income for the period plunged 71.8% to $1.1
million.
Pernix Therapeutics Holdings, Inc. (NASDAQ: PTX),
meanwhile, said it has signed an agreement with GlaxoSmithKline to acquire the
U.S rights to Treximet for the acute treatment of migraine attacks with or
without aura in adults. Pernix stock popped 31% to $5.59 following the
announcement.
Finally,
shares of Celldex Therapeutics, Inc. (NASDAQ: CLDX)
climbed 27% to $15.74 as the company reported that it has entered into a
clinical trial collaboration with Bristol-Myers Squibb Company to evaluate
the safety, tolerability and preliminary efficacy of nivolumab, Bristol-Myers
Squibb’s investigational PD-1 immune checkpoint inhibitor, and varlilumab,
Celldex’s CD27 targeting investigational antibody in a Phase 1/2 study.
Multiple tumor types will be explored in the study, which could potentially
include non-small cell lung cancer (NSCLC), metastatic melanoma, ovarian,
colorectal (CRC) and squamous cell head and neck cancers.
