Hanmi Financial, Neurocrine Biosciences: Midday Volume Plays

Several stocks trading near $5, including Hanmi Financial, were moving on above-average volume Wednesday.
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NEW YORK (

TheStreet

) --

Hanmi Financial

(HAFC) - Get Report

rallied 30% on a $240 million capital infusion, making in one of several stocks under $5 moving on above-average volume Wednesday.

Hanmi Financial

surged after the bank said

Woori Finance Holdings

will purchase a minimum of $210 mln of Hanmi common stock at a purchase price of $1.20 per share. Under the agreement, Woori has the option to purchase up to an additional $30 million in Hanmi common stock.

Hanmi Financial also said it intends to commence a $120 million offering that will be comprised of a $60 million rights offering to existing stockholders and a $60 million registered best efforts offering of common stock to the public.

Hanmi Financial shares jumped by 66 cents, or 32.5%, to $2.69. Volume topped 3.49 million shares, compared to the 50-day average daily volume of 1.09 million, according to the

Nasdaq

.

Elsewhere,

Rodman & Renshaw

(RODM) - Get Report

jumped by 45 cents, or 18%, to $2.95 after the company's board of directors approved a $5 million stock repurchase plan. Volume topped 230,000 shares, compared to the 50-day average daily volume of 158,000.

Neurocrine Biosciences

(NBIX) - Get Report

extended Tuesday's 24% rally, climbing another 25.3% to $4.26. Volume topped 7.02 million shares, compared to the 50-day average daily volume of 391,000.

On Tuesday,

Neurocrine Biosciences

said a Phase II Daisy PETAL study using its Gonadotropin-Releasing Hormone receptor antagonist, elagolix, showed "statistically significant and clinically meaningful top-line efficacy results."

On the other hand,

USEC

(USU)

retraced some of the previous session's gain, falling 7.6% to $4.86 during Wednesday's session. Volume topped 2.3 million shares, compared to the three-month average daily volume of 2.39 million, according to Yahoo! Finance.

USEC

shares rallied 24.1% Tuesday after nuclear power companies

Toshiba Corp.

and

The Babcock & Wilcox Co.

said they will jointly invest $200 million in the company to foster its uranium enrichment technology.

-- Written by Robert Holmes in Boston

.

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