Amicas, Limelight: Early Volume Plays
NEW YORK ( TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Monday's session.
Vical (VICL) said its Phase III trial of Allovectin-7 for the treatment of metastatic melanoma received a positive review from safety monitoring board. The 50-day average daily volume for Vical is 489,000 shares, according to the Nasdaq. The stock closed at $2.75 Thursday.
Koss (KOSS) shares were set to trade lower after the company said it has terminated VP of Finance Sujata Sachdeva and warned that financial statements are unreliable since at least 2006. Unauthorized financial transactions made under Sachdeva's watch may exceed $20 million, Koss estimated. The 50-day average daily volume for Koss is 1,600. Shares closed Thursday at $5.51.
Limelight Networks (LLNW) rose nearly 6% to $3.95 in the premarket session, one week after it announced a definitive agreement to acquire privately held EyeWonder for approximately $110 million in a cash and stock deal. The 50-day average daily volume for Limelight is 222,000.Amicas (AMCS) was halted in the premarket trading session after Thomas Bravo LLC said it would acquire the company for $5.35 a share in a deal worth approximately $217 million. The 50-day average daily volume for Amicas is 131,000. The stock closed Thursday at $4.42 a share. Arrowhead Research (ARWR) said its Tego Biosciences subsidiary sold its intellectual property portfolio to Luna Innovations (LUNA) for $430,000 upfront. Tego will also receive milestone payments totaling $4.25 million for each fullerene product it brings to market under Tego IP. The 50-day average daily volume for Arrowhead is 131,000. Shares finished trading Thursday at 53 cents. -- Written by Robert Holmes in Boston. 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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