Acquisition Amendment Sends Nanosphere Soaring
Nanosphere, Inc. (NASDAQ:NSPH) has surged by 27% after Luminex Corporation (NASDAQ:LMNX) amended its acquisition agreement to acquire Nanosphere. Under the terms of the new deal, the new acquisition price will be $1.70 in cash per share, up from the previous $1.35 per share. The increase was due to an unsolicited third party offer for Nanosphere for $1.50 per share. According to our records, four funds owned $619,000 worth of Nanosphere, Inc. (NASDAQ:NSPH) shares, which accounted for 6.20% of the float on March 31.
Technical Buying Detected At Cellectar Biosciences Inc
Nano-cap Cellectar Biosciences Inc (NASDAQ:CLRB) is the beneficiary of some technical buying today, as its stock is 32% higher in the morning frame despite there being no fundamental news concerning the company. The only meaningful news last week was Cellectar Biosciences issuing a press release announcing that the company was making progress on its U.S. patent for Phospholipid-Ether Analogs as Cancer Targeting Drug Vehicles. Two funds out of the 766 funds that Insider Monkey tracks owned $507,000 worth of Cellectar Biosciences’ stock at the end of the first quarter. As with all nano-caps, investors should do their due-diligence before buying.
Relypsa Rallies on Data, Upgrade
Relypsa Inc (NASDAQ:RLYP) is 12% in the green today after the analysts at Morgan Stanley upgraded the stock to ‘Equal Weight’ from ‘Underweight’. Also fueling today’s rally is newly released data that showed Relypsa Inc (NASDAQ:RLYP)’s main drug, Veltassa, may, ‘bind and remove sodium as well as potassium in the gastrointestinal tract’. The data might increase market adoption for Veltassa. A total of 14 funds from our database owned around 1/3 of Relypsa Inc (NASDAQ:RLYP) at the end of March.