GenVec, Allied Defense: Early Volume Plays - TheStreet

NEW YORK (

TheStreet

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

Allied Defense Group

( ADG) was set to trade higher after

Chemring Group

agreed to acquire the company for $7.25 a share in an all-cash deal. The three-month average daily volume for Allied Defense is 27,000, according to Yahoo! Finance.

GenVec

(GNVC)

rallied by 26 cents, or 15%, to $2 in the premarket session after the company said it has entered into a research collaboration and license agreement with

Novartis

(NVS) - Get Report

to develop treatments for hearing loss and balance disorders. If certain clinical, regulatory and sales milestones are met, GenVec is eligible to receive up to $213.6 mln, including upfront and milestone payments, in addition to royalties on future sales. The 50-day average daily volume for GenVec is 2 million, according to the

Nasdaq

.

Chelsea Therapeutics

(CHTP)

should open higher Tuesday after Roth Capital Partners raised its stock price target to $6 from $5 following a meeting with Chelsea's management, with the firm saying it feels more sanguine about prospects for lead drug Droxidopa to treat neurogenic orthostatic hypotension. The 50-day average daily volume for Chelsea Therapeutics is 462,000.

Hersha Hospitality Group

(HT) - Get Report

may trade higher after R.W. Baird analysts upgraded the stock to outperform from neutral and raised their stock price target to $4 from $3. The firm cited the recent share offering, which helps reduce leverage and increase liquidity. The three-month average daily volume for Hersha Hospitality is 697,000.

-- Written by Robert Holmes in Boston

.

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