Pre-Open Movers 10/09: (CLNT) (TROV) (GEVO) Higher; (XXII) (KTWO) (PTCT) Lower (more...)

October 9, 2017 9:29 AM

Today's Pre-Open Stock Movers

Cleantech Solutions International, Inc. (NASDAQ: CLNT) 69% HIGHER; announced that its wholly-owned subsidiary, Sharing Economy Investment Limited, has entered into an exclusivity agreement with Inspirit Studio, regarding a potential acquisition by SEI of not less than 51% of Inspirit Studio.

Trovagene, Inc. (NASDAQ: TROV) 18% HIGHER; announced that the U.S. Food and Drug Administration (FDA) granted an orphan drug designation to PCM-075 for the treatment of patients with acute myeloid leukemia (AML) on September 28, 2017. PCM-075 is an oral, highly-selective adenosine triphosphate (ATP) competitive inhibitor of the serine/threonine Polo-like Kinase 1 (PLK1) enzyme, which appears to be over expressed in several different hematologic malignancies and solid tumor cancers.

Gevo, Inc. (NASDAQ: GEVO) 17% HIGHER; announced today that it will be partnering with National Renewable Energy Laboratory (NREL), Argonne National Laboratory (ANL) and Oak Ridge National Laboratory (ORNL) on a project to fine-tune the composition of the catalyst used in Gevos proprietary ETO process, in order to improve performance and accelerate scale-up efforts. ChemCatBio, a consortium within the US Department of Energy, awarded funding to the national labs in support of the project.

22nd Century Group, Inc. (NYSE: XXII) 15.8% LOWER; entered into an agreement with institutional investors to receive approximately $54 million in gross proceeds in a registered direct offering through the sale of 20.57 million shares of common stock at a price of $2.625 per share. This no-warrant financing will be the largest capital raise – at the highest price per share – in the history of 22nd Century and will raise the Company’s cash balance to well over $60 million – enough to meet all regular operating expenses for more than five years.

K2M Group Holdings, Inc. (Nasdaq: KTWO) 15.1% LOWER; Total Q3 revenue is expected to be approximately $62.7 million, versus the consensus of $67.4 million.

Compugen Ltd. (NASDAQ: CGEN) 10% HIGHER; disclosed new data demonstrating the potential of CGEN-15032 as a target for the development of first-in-class cancer therapy. CGEN-15032 is a novel myeloid and epithelial immuno-oncology target, which may serve as an immuno-suppressive target within the tumor microenvironment. Addressing the immuno-suppressive environment of the tumor through myeloid drug targets has the potential for developing treatments that may expand the patient population responsive to current treatments.

Mazor Robotics Ltd. (NASDAQ: MZOR) 7.7% HIGHER; expects to report record revenue of approximately $17.2 million for the third quarter ended September 30, 2017. During the third quarter of 2017, the Company received a total of 22 system purchase orders from customers in the U.S., Asia and Israel.

PTC Therapeutics (NASDAQ: PTCT) 7.3% LOWER; JPMorgan downgraded from Neutral to Underweight with a price target of $15.00 (from $23.00).

MuleSoft Inc. (NYSE: MULE) 5% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $26.00 (from $24.00)

Veritone, Inc. (NASDAQ: VERI) 3.7% HIGHER; a company targeted by short seller Citron Research, is not only a bad short, it's still undervalued, said co-founder and chief executive Chad Steelberg, according to Bloomberg. Steelberg said market opportunity is huge.

DaVita (NYSE: DVA) 3.6% LOWER; JPMorgan downgraded from Neutral to Underweight with a price target of $51.00 (from $66.00).

Conn's Inc. (NASDAQ: CONN) 3.6% LOWER; Stifel downgraded from Buy to Hold with a price target of $30.00 (from $26.00).

Viacom (NASDAQ: VIAB) 3.1% LOWER; Citi downgraded from Neutral to Sell with a price target of $24.00 (from $33.00).

Activision Blizzard (NASDAQ: ATVI) 2.5% LOWER; Cowen downgraded from Outperform to Market Perform with a price target of $66.00.

Take-Two Interactive (NASDAQ: TTWO) 2.3% LOWER; Cowen downgraded from Outperform to Market Perform with a price target of $83.00.

Flexion Therapeutics, Inc. (Nasdaq: FLXN) 1.9% HIGHER; announced that the U.S. Food and Drug Administration (FDA) approved Zilretta (triamcinolone acetonide extended-release injectable suspension), the first and only extended-release, intra-articular injection for osteoarthritis knee pain. Zilretta is a non-opioid medicine that employs Flexions proprietary microsphere technology to provide proven pain relief over 12 weeks.

E*TRADE (NASDAQ: ETFC) 1.3% HIGHER; BofA/Merrill Lynch upgraded from Neutral to Buy with a price target of $49.00 (from $44.00).

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