(Updated with ClickSoftware management quote.)
NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Tuesday's session.
AspenBio Pharma (APPY) reported progress on the supplemental clinical trial for AppyScore, the first blood-based test designed to aid in the evaluation of patients suspected of having acute appendicitis. AspenBio has scheduled an interim analysis of the clinical trial data, and it has a meeting with the Food and Drug Administration scheduled for January. The 50-day average daily volume for AspenBio is 85,000 shares, according to the Nasdaq. The stock closed Monday at $1.56.
ClickSoftware (CKSW) raised revenue guidance for the fourth quarter to $17 million from the previous target range of $16 million to $16.7 million, above the Thomson Reuters consensus target of $16.5 million. "Strong bookings in the fourth quarter will contribute to the existing backlog and deferred revenues, providing us with high visibility into 2010," said CEO Dr. Moshe BenBassat. ClickSoftware now expects revenue to total $61 million for the 2009 fiscal year, compared with the average analyst target of $60.5 million. The three-month average daily volume for ClickSoftware is 437,000. Shares finished Monday's session at $6.93.Amicas (AMCS), which surged nearly 24% Monday on the company's $217-million merger agreement with private-equity firm Thomas Bravo, was downgraded by William Blair analysts to market perform from outperform Tuesday. The stock closed Monday's session at $5.47, above the $5.35-a-share price Thomas Bravo agreed to pay Amicas shareholders, although Amicas is allowed to solicit alternative proposals for 45 days beginning Dec. 24. The three-month average daily volume for Amicas is 271,000. Sterling Bancshares (SBIB) said late Monday it has terminated an agreement to buy First Banks branches in Texas as they could not gain regulatory approval before the Dec. 31 deadline. The three-month average daily volume for Sterling is 1.1 million shares. Shares ended Monday's trading session at $5.25. -- Written by Robert Holmes in Boston. Check out all of Tuesday'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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