Sirius XM, ARCA biopharma: Early Volume Plays - TheStreet

Sirius XM, ARCA biopharma: Early Volume Plays

Several stocks trading near $5 were poised to move on above-average volume during Friday's session.
Author:
Publish date:

NEW YORK (

TheStreet

) -- Several stocks trading near $5 were poised to move on above-average volume during Friday's session.

Sirius XM

(SIRI) - Get Report

rose by a penny, or 1.4%, to 88 cents after the

Nasdaq

scheduled a hearing on April 29 for the satellite radio company to make its case for continued listing on the exchange. Sirius XM is currently not in compliance with the minimum $1 share bid price requirement. On Thursday, Lazard Capital analyst Barton Crockett reiterated his buy rating and $1.35 price target on shares. The 50-day average daily volume for Sirius XM is 116.5 million, according to the Nasdaq. More than 219 million shares changed hands Thursday.

ARCA biopharma

(ABIO) - Get Report

surged by $1.70, or 64.3%, to $4.36 at the start of trading after the company said that the U.S. Patent and Trademark Office has issued the company a patent on methods of treating heart failure patients with bucindolol based on genetic testing. The 50-day average daily volume for ARCA is 19,000.

American Apparel

(APP)

dropped by 56 cents, or 14.6%, to $3.28 in early trading after the retailer said it is not providing guidance for 2010 until it reports first-quarter earnings in May. American Apparel said it expects to report a decline in comparable store sales of approximately 10% for the first quarter. The announcement came as American Apparel posted a fourth-quarter profit of 4 cents a share, matching the average analyst target. The three-month average daily volume for American Apparel is 214,000, according to Yahoo! Finance.

Lexington Realty Trust

(LXP) - Get Report

slid by 28 cents, or 4.1%, to $6.62 after the company priced an offering of 9.5 million shares for approximately $61.5 million of net proceeds. The three-month average daily volume for Lexington Realty Trust is 1.23 million.

-- Written by Robert Holmes in Boston

.

Check out all of Friday's high-volume, under-$5 stocks at the Dollar Store

Follow Robert Holmes on

Twitter

and become a fan of TheStreet.com on

Facebook.