Small-cap stocks clung to the lower reaches of the broader market Thursday, largely moving in sync with the lukewarm
Dow Jones Industrial Average
Weighing things down were several health stocks, among them
, an Australia-based biotech that agreed to sell 6.9 million of its shares to institutional and other investors for a heavily discounted price of $4.75 apiece. Shares were plunging 19.9% to $4.83 in recent trading.
( MGRM) lost a penny more than the Street had expected, according to Thomson Financial, and came in under sales estimates. Shares of the diagnostic-substances maker lost 11.4% to $1.64.
( CLRT), purveyor of cancer-related diagnostic services, sank 13.2% to $2.10 after posting a first-quarter continuing-operations loss of 6 cents a share that missed two analysts' estimates by 2 cents.
Meanwhile, medical-products maker
, of Pleasanton, Calif., plunged 14.5% to $17.01 despite edging out top- and bottom-line estimates for the first quarter.
Town Sports International
, a New York-based fitness-club operator, was off 9.4% to $20.54 after widening its GAAP-based first-quarter loss.
Small tech losers included semiconductor-equipment maker
, which reported first-quarter income that fell just under the Street's 4-cent-per-share targets, and
( OPTC), a communications-equipment maker that swung to a first-quarter loss vs. last year. Axcelis, based in Beverly, Mass., plummeted 19.2% to $6.63. Maryland-based Optelecom tumbled 19.8% to $6.71.
On the other hand, California-based
shot up more than 20% to $22.75 after the Food and Drug Administration approved for commercialization its Sensei Robotic Catheter System and Artisan Control Catheter, a platform that assists physicians during the diagnostic phase of complex cardiac arrhythmia treatment.
( EPCT) said a midphase trial of its NP-1 cream pain medication achieved its primary endpoint in patients with a painful condition called post-herpetic neuralgia. Shares of the Tarrytown, N.Y., company were leaping 11% to $3.24.
Another health name,
Albany Molecular Research
vaulted 11.7% to $10.73 after first-quarter income totaled a dime a share vs. 6 cents a year ago. Analysts were looking for profits to flat-line with last year.
Also coming in higher than anticipated were staffing-services firm
( HHGP), recently leaping 12.2% to $18.99; wireless-products maker
, which added 9.4% to $22.21; and
, maker of impact-resistant windows and doors, lately up 13.3% to $11.90.
The Russell 2000 and
SmallCap 600 indices were both up slightly.