Momentum List Under $5: CATB, FORD, MNKD, XELB

These stocks are seeing heavy premarket action, put them on your watchlist for the day

Catabasis Pharmaceuticals Inc (NASDAQ:CATB) is one of the biggest percentage gainers as the stock is all set to gap up. The stock soared 26% to $2.57. The stock is seeing buying interest after RA Capital Management discloses ownership of ~5.75M shares of Catabasis Pharmaceuticals (NASDAQ:CATB).It represents 7.5% passive ownership.

Forward Industries, Inc. (NASDAQ:FORD) is the another big gainer with a jump of 24.33% to $3.37 in the pre-market session. Investors are cheering the company’s news about an agreement with Chipolo Inc. to distribute its tracker products in the U.S., via exclusive distribution agreements with select big box stores and other retailers. Chipolo products including Chipolo ONE Spot, are an easy, fast way to help locate items such as keys or wallets by attaching a tracker to a keychain utilizing its unique keyring hole design.

MannKind Corporation (NASDAQ:MNKD) is one of the biggest percentage gainers as the stock gained 10.50% to trade at $4.53. The stock is reacting to the news that MannKind and United Therapeutics (Nasdaq: UTHR) reached a major milestone today with the announcement that the U.S. Food and Drug Administration (FDA) accepted for priority review of the New Drug Application (NDA) for Tyvaso DPI™ (inhaled treprostinil) for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD).

XCel Brands Inc (NASDAQ:XELB) is making big gains in the pre-market session. The stock is up almost 7.77% to $2.22 after falling 15% over the past week. There is no trigger for such a rally, but the stock has lost almost 30% from April peak. XELB stock is up 90% over the past year.

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