Clarient, Celldex: Early Volume Plays
NEW YORK ( TheStreet) -- Several stocks trading under $5 were poised to move on above-average volume during Monday's session.
Hansen Medical (HNSN) and Luna Innovations (LUNA) surged 16.1% to $3.10 and 44.2% to $2.12, respectively, after both companies late Friday said they had resolved outstanding litigation between them, although terms were not disclosed. Luna also said it has filed a reorganization plan and other bankruptcy documents to implement the settlement agreement and allow the company to emerge from Chapter 11 reorganization as quickly as possible. Luna has proposed to pay 100% of its due and payable valid claims and Luna stockholders will retain their shares of Luna's common stock.
Clarient (CLRT) jumped by 17 cents, or 7.3%, to $2.50 in the premarket session after the company and BioView jointly announced that they will collaborate on studies to validate the clinical utility of a non-invasive test for the early detection of non-small cell lung cancer. The 50-day average daily volume for Clarient is 900,000 shares, according to the Nasdaq.
Celldex Therapeutics (CLDX) gained 46 cents, or 10.2%, to $4.95 in the premarket session after the company reported results of a positive Phase 2 study of CDX-011 in patients with heavily pre-treated, locally advanced or metastatic breast cancer. The 50-day average daily volume for Celldex is 357,000.California Micro Devices (CAMD) surged by $1.49, or 48.9%, to $4.54 in the premarket session after ON Semiconductor (ONNN) said it would acquire the company for $4.70 a share in all cash tender offer. The 50-day average daily volume for California Micro Devices is 33,000. Akeena Solar (AKNS) rose 3 cents, or 2.2%, to $1.41 in the premarket session after the company said it has appointed Gary Effren, currently CFO, to President and named Margaret Randazzo, currently controller, as chief financial officer, effective Monday. The 50-day average daily volume for Akeena is 442,000. -- Written by Robert Holmes in New York. Check out all of Monday's high-volume, under-$5 stocks at the Dollar Store Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
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