Microcap Movers for Thursday December 15, 2011
Below are highlights from Benzinga's daily coverage of microcap ecurities. Benzinga provides comprehensive, objective, and conflict-free coverage of the microcap sector in real-time at BenzingaSmallCap.com.
Shares of Adventrx Pharmaceuticals (NYSE: ANX), San Diego, CA specialty pharmaceutical company rose 6% Thursday on 5 times the average daily volume.
The increased volume may have been due to advance notice of a Friday morning PR reporting an update in coverage by Vista partners, with a 12-month target of $3.50.
Ross Silver, Principal Analyst at Vista Partners stated, "ANX currently trades at a negative enterprise value with its market cap currently being less than its cash balance."
Adventrx Pharmaceuticals shares traded Thursday in a range of $0.60 to $0.67, closing at $0.63.
Shares of Southwest Bancorp (NASDAQ: OKSB), the Stillwater, OK holding company for the Stillwater National Bank and Trust Company and Bank of Kansas, rose 29% Thursday on 5 times the average daily volume.
Southwest Bancorp released its 8-K filing Thursday, which indicated it had completed cash sales of nonperforming loans, potential problem loans, and other real estate with a carrying value before transfer to assets held for sale, of approximately $300.3 million and related other loans with a carrying value before transfer to assets held for sale of $1.3 million. Southwest received total net cash after payment of transaction expenses of approximately $186.6 million. Southwest did not retain any interest in the loans or other real estate sold.
Southwest Bancorp shares traded Thursday in a range of $5.78 to $6.39, closing at $6.02.
Shares of Cardiome Pharma (NASDAQ: CRME), the Vancouver, BC developer of proprietary drugs to treat or prevent cardiovascular and other diseases, rose 15% Thursday on almost twice the average daily volume.
This one was being pumped in chat and on Twitter on Thursday. Benzinga placed a call into Cardiome, but the company did not respond.
Cardiome Pharma shares traded Thursday in a range of $1.86 to $2.27, closing at $2.15.
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