EnteroMedics, Bionovo: Early Volume Plays

(Updated to correct Cell Therapeutics share price.)

NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Thursday's session.

EnteroMedics (ERTM) surged by 52 cents, or 64.2%, to $1.33 in early trading after the company said its Maestro System continues to meet its safety goals, according to data from weight loss, hypertension and diabetes clinical studies. The 50-day average daily volume for is 856,000, according to the Nasdaq.

Atlantic Bancgroup (ATBC) slumped by 55 cents, or 15.5%, to $3 after the company said in a regulatory filing late Wednesday that is has consented to the issuance of a consent order with the Federal Deposit Insurance Corporation and the Florida Office of Financial Regulation. Atlantic Bancgroup said it entered into the consent order without admitting or denying any charges of unsafe or unsound banking practices or violations of law or regulation. The 50-day average daily volume for Atlantic Bancgroup is 4,500.

Cell Therapeutics (CTIC) fell by 13 cents, or 9.7%, to $1.21 at the open after the company said it raised $30 million through the sale of preferred stock and warrants. The 50-day average daily volume for Cell Therapeutics is 10.61 million shares.

Bionovo (BNVI) rose by 8 cents, or 12.9%, to 70 cents in early trading after the company announced the publication of their results from its phase 1B clinical trial of Bezielle (BZL101) for metastatic breast cancer in Breast Cancer Research and Treatment. The results show that "Bezielle continues to be safe and well tolerated with clinical evidence of anticancer activity" in a heavily pretreated population of women diagnosed with metastatic breast cancer. The 50-day average daily volume for Bionovo is 1.28 million.