Early Movers: Pump Up the Volume

NEW YORK (TheStreet) -- Here are several small-cap stocks that could move on above-average volume during Friday's session.

QLT Inc. (QLTI Quote) shares jumped by 36 cents, or 10.2%, to $3.90 in the premarket session after the biotech company announced it had completed a sale of its wholly-owned subsidiary, QLT USA, to TOLMAR Holding for an aggregate $230 million.

Local.com (LOCM Quote) looks to give back some of the previous session's gain after the company said a false press release was issued saying it was being acquired by Microsoft (MSFT Quote). Local.com said is has not been acquired, nor is it in discussions with Microsoft about a potential deal. After jumping 8% on above-average volume Thursday, the stock was down 9 cents, or 1.7%, to $5.30 in Friday's premarket session.

GenVec (GNVC Quote) was poised to rise Friday after Merriman Curhan Ford initiated coverage of the stock with a buy rating, saying that GenVec's "underlying technology for vaccine and gene delivery has established a promising long term pipeline for multiple therapeutic indications." Shares were up 6 cents, or 8.1%, to 80 cents in the premarket session.

Edge Petroleum (EPEX Quote) plunged in early trading Friday after the company said it has filed for reorganization under Chapter 11 and will sell most of its assets. Shares plummeted by 32 cents, or 60.4%, to 21 cents ahead of Friday's open.

-- Written by Robert Holmes in New York.