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Why these 3 small cap shares are zooming higher

The likes of Westpac Banking Corp (ASX: WBC) and WiseTech Global Ltd (ASX: WTC) may be stealing the headlines today with their solid gains, but they’re not the only ones pushing higher.

At the small end of the market there have been some especially strong gains.

Three that caught my eye are listed below:

The Cynata Therapeutics Ltd (ASX: CYP) share price is up almost 5% to $1.19 after the stem cell and regenerative medicine company made a positive announcement related to its Cymerus mesenchymal stem cell technology. According to the release, the company has received a notice of allowance from the European Patent Office for a patent application covering Cymerus. This is another positive for the company and gives it a comprehensive patent portfolio that protects its unique and proprietary IP. I think Cynata is a quality company on the rise and one to watch.

The Lifestyle Communities Limited (ASX: LIC) share price has climbed 3% to $5.16 after the retirement community provider released an update on its settlements. According to the release, the company has upgraded its settlement guidance for FY 2018 to between 310 and 320 from between 260 and 290. This increase was partly down to the company gaining access to the Bittern site ahead of expectations. Last week I revealed that Goldman Sachs had picked out Lifestyle Communities as a company that could upgrade guidance this month. The broker was spot on.

The Spookfish Ltd (ASX: SFI) share price has risen almost 4.5% to 4.8 cents after the geospatial imagery company advised that the U.S. Federal Aviation Authority (FAA) had approved the final stage of the Supplemental Type Certification (STC) programme for the Spookfish camera system. According to the release, this is a major milestone for the company and will enable additional large-scale manufacturing and simple delivery to the United States. The news hasn’t had any impact on the share price of rival Nearmap Ltd (ASX: NEA) which is up over 1% today.

3 Revolutionary Small Cap Shares to Back in 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia owns shares of WiseTech Global. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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