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EU Rates Aren’t Impacting These Trending Stocks On Thursday; Check Cap Ltd (NASDAQ:CHEK), Life Clips Inc (OTCMKTS:LCLP), Ocular Therapeutix Inc (NASDAQ:OCUL), CombiMatrix Corp (NASDAQ:CBMX)

The Bank of England made its biggest rate cut for the first time in over seven years this week. Growth forecasts were slashed and launched a new monetary policy in a fight to fight back against the post-Brexit slump in the U.K. The central bank has made its biggest quarterly downgrade of growth forecasts, reducing expectations for 2017 growth from 2.3 percent to 0.8 percent, citing “substantial uncertainty” after the referendum on the U.K.’s membership of the European Union (EU) in June. The bank has made these forecasts since 1992.

Despite what’s happening financially, across the pond, US stocks are trading higher during the mid morning session on Thursday. Leading the charge are 4 small and micro cap stocks seeing increased volatility and price movement and include Check Cap Ltd (NASDAQ:CHEK), Life Clips Inc (OTCMKTS:LCLP), Ocular Therapeutix Inc (NASDAQ:OCUL), and CombiMatrix Corp (NASDAQ:CBMX).

Check Cap Ltd (NASDAQ:CHEK) announced it has entered into an agreement with GE Healthcare to develop and validate high-volume manufacturing for X-ray source production and assembly into Check-Cap’s capsule. CHEK is a clinical stage medical diagnostics company engaged in the development of an ingestible capsule for preparation-free, colorectal cancer screening.

Shares of CHEK have seen well above average trading activity on Thursday morning. From a previous close of $1.39, the stock has soared to highs of $3.35 in early morning action. The average trading volume over the last three months for CHEK has been between 40,000 and 50,000 shares per day. Thursday saw the stock trade more than 3.5million shares before 11AM EST.

Life Clips Inc (OTCMKTS:LCLP) has seen a miraculous rebound in price since hitting lows of $0.30 last week. The company has announced several key developments over the last few days including new distribution agreements with global outlets and today they announced an additional channel through the closing of a 400,000-unit deal for distribution in Spain and Portugal.

As referenced, since hitting lows of $0.30 exactly a week ago, the stock has recovered handsomely. Even though it is relatively flat today, it has come back by as much as 86% following highs from this week at $0.56. Currently the stock is steadily trading between $0.45 and $0.50 with news acting as a stronger catalyst heading into the second half of the week.

Ocular Therapeutix Inc (NASDAQ:OCUL) hit scanners this morning after announcing Wednesday, an update on the status of its New Drug Application (NDA) for DEXTENZA™. The drug application is for intracanalicular use in the treatment of ocular pain occurring after ophthalmic surgery. Recently, the FDA issued a letter to Ocular Therapeutix noting that corrective actions detailed in its responses as a whole appear to address the ten inspectional observations raised in the Form FDA 483 with one exception which relates to the proposed process for identity testing of an incoming inert gas component used in the manufacturing process.

Shares of OCUL have traded higher on Thursday with a move of more than 30% from previously closing on Wednesday at $4.20. With more than 3.6million shares traded before 12PM on Thursday, this is one of the highest trading volume days the stock has seen in more than a month. With this kind of trading momentum, the end of day numbers may show activity the stock has not seen since February of this year. The one month number is just under 5million shares and the February number is a little over 5.6 million shares traded.

CombiMatrix Corp (NASDAQ:CBMX) rounds out the list after pre market activity has sparked a rally with the stock. From about 8AM EST when the stock was at $3.60, CBMX shares traded as high as $4.44 before the opening bell. At the time of this article, CBMX is trading around $3.60 with a little over 1.5million shares traded.

Wednesday the company reported quarterly results showing $5.2million in cash, cash equivalents and short-term investments as of June 30 as compared with $3.9m in December. The company reported Q2 EPS of ($0.89) versus the ($1.39) estimate. Revenues also increased by nearly 22% year over year to $3.11m compared to analyst estimates of $3.01million.

The company is a family health molecular diagnostics company specializing in DNA-based reproductive health and pediatric testing services.

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