NEW YORK ( TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Tuesday's session.
Dynavax Technologies (DVAX - Get Report) was set to open sharply higher Tuesday after the biopharma company announced positive data from two studies that differentiate its SD-101 treatment from standard-of-care as well as emerging treatments for chronic hepatitis C infection. The 50-day average daily volume for Dynavax is 492,000, according to the Nasdaq. Shares closed Monday at $1.49 before jumping 24% in late trading.
Threshold Pharmaceuticals (THLD - Get Report) should also trade up after the company announced data from a phase 1/2 clinical trial of TH-302 in patients with gastrointestinal cancer. Of the 38 patients assessed for response, 12 patients (32%) had a RECIST criteria partial response. The 50-day average daily volume for Threshold is 56,000. Shares finished trading Monday at $1.92 and rallied 27.6% in the after-hours session.
Matrixx Initiatives (MTXX) was poised to rally Tuesday after the healthcare products company late Monday reported fiscal third-quarter earnings of 41 cents a share, surprising analysts who had expected a loss of 7 cents a share. Revenue tumbled 26.4% from a year ago to $28.5 million, although that was still ahead of consensus. Average gross margin rose to 73% from 71% in the year-ago quarter. The 50-day average daily volume for Matrixx is 304,000. The stock closed Monday at $4.56.PLX Technology (PLXT) was indicated to open higher after the semiconductor company late Tuesday posted fourth-quarter earnings of 9 cents a share, better than the Thomson Reuters average estimate for a profit of a penny a share. Revenue surged 87% to $26.6 million, also ahead of estimates. PLX Tech also offered better-than-expected revenue guidance for the first quarter. The 50-day average daily volume for PLX Tech is 168,000 shares. Shares closed Monday at $3.99 and rose to $4.31 in late trading. Ener1 (HEV) was set to open lower Tuesday after the battery systems developer filed for a $60 million common stock offering. The three-month average daily volume for Ener1 is 924,000, according to Yahoo! Finance. The stock fell 4.3% Monday to close at $4.50. -- 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.