Molecular Insights, Empire Resorts: Early Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Tuesday's session.
Molecular Insight Pharmaceuticals (MIPI) surged by $3, or 200%, to $4.50 in the premarket session after the company said late Monday that Phase II trial data showed its cancer drug, Onalta, improved symptoms associated with metastatic carcinoid tumors. The data were published in the Journal of Clinical Oncology. The 50-day average daily volume for Molecular Insight Pharmaceuticals is 388,000, according to the Nasdaq.
Empire Resorts (NYNY) dropped by 29 cents, or 12.8%, to $1.98 in the premarket session after the company said in a regulatory filing that a court has found that Empire Resorts was in default on $65 million in senior convertible notes issued to Bank of New York Mellon and The Depository Trust Company. The court ruled that Empire Resorts must now repurchase the senior convertible notes. The 50-day average daily volume for Empire Resorts is 131,000.
Catalyst Pharmaceutical Partners (CPRX) continued to rally, rising by 28 cents, or 14.8%, to $2.17 in the premarket session after climbing 136% on Monday. While there wasn't any company-specific headlines, traders posting on Internet message boards noted insider buying in February and March as well as the potential for the company's CPP-109 drug for treatment of drug addictions. The 50-day average daily volume for Catalyst Pharmaceutical is 360,000.Elixir Gaming Technologies (EGT) was poised to rally Tuesday after the company said it has entered into a five-year Machine Participation Agreement with Grand Golden to place approximately 60 electronic gaming machine seats on a participation basis at its new Grand Golden casino in Kampong Cham Province, Cambodia near the Vietnam border. In addition, Elixir Gaming said its Dolphin division recently secured a $340,000 order to supply RFID gaming plaques and chips for Melco Crown Entertainment's (MPEL) City of Dreams casino resort in Macau. The three-month average daily volume for Elixir Gaming is 237,000, according to Yahoo! Finance. -- Written by Robert Holmes in Boston. Check out all of Tuesday's high-volume, under-$5 stocks at the Dollar Store. View the Dollar Store portfolio on StockPickr. Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV