Small Cap Stock Losers: SLDB, PLT, VOXX
2:34 pm Friday, May 14th, 2021
Following are the notable small cap stock losers on Friday:
Solid Biosciences Inc (NASDAQ:SLDB) is down 21% after the company reported Q1 results and other updates. Collaboration revs for Q1 were $3.3 mln. Co expects its cash and cash equivalents to fund operations and expenditures into Q4 of 2022.
Business updates include co’s announcement of the advancement of a next-generation DMD microdystrophin gene transfer program, SGT-003, and its presentation of long-term biopsy data from patients 4-6 at the 2E14 vg/kg dose level in the IGNITE DMD study; co also noted that an eighth patient dosed in IGNITE DMD experienced an inflammatory response classified as a serious adverse event and considered to be drug-related.
Plantronics Inc (NYSE:PLT) plunges 19.50% as the company posted upside Q4 results while issuing downside guidance for Q1 EPS and revs. Q4 sales benefited from growth momentum for Video gear and Professional Headsets.
Supply chain pressures connected to the global semiconductor shortage are expected to pressure co’s sequential growth and its ability to execute on end market demand. Also announced that it will change its ticker symbol to “POLY”. Falls to four-month lows.
VOXX International Corp (NASDAQ:VOXX) slide 14% at $14.35 as the company reported Q4 results. Net sales increased +60.8% yr/yr to $162.5 mln; co recorded yr/yr growth in all reporting segments, including +89.7% growth in its Automotive Electronics segment. Gross margin declined 210 bps yr/yr, primarily due to lower gross margin in co’s Consumer Electronics segment.
