Taser, Ariad Pharmaceuticals: Early Volume Plays

NEW YORK ( TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Monday's session.

Taser International ( TASR) lost 46 cents, or 6.1%, to $7.10 after JPMorgan Chase analysts downgraded the stock to neutral from overweight, citing valuation. Volume topped 614,000 shares, compared to the 50-day average daily volume of 1.44 million, according to the Nasdaq.

Shanda Games ( GAME) lost $1.32, or 16%, to $6.95 even after the Chinese gaming company notched a fourth-quarter profit totaled 415.2 million yuan ($60.8 million), which was up from a year ago and better than analysts had forecasted, according to Thomson Reuters. Volume topped 3.72 million shares, compared to the 50-day average daily volume of 1.32 million.

Ariad Pharmaceuticals ( ARIA) jumped by 18 cents, or 7.1%, to $2.72 after the company said it has received Orphan Drug Designations from the Food and Drug Administration for its investigational pan BCR-ABL inhibitor, AP24534, to treat chronic myeloid leukemia. Volume topped 839,000 shares, compared to the 50-day average daily volume of 1.56 million.

Biodel ( BIOD) gained 36 cents, or 9%, to $4.35 after the company said the FDA accepted its New Drug Application for VIAject, its treatment for diabetes. Volume topped 326,000 shares, compared to the 50-day average daily volume of 299,000.

-- Written by Robert Holmes in Boston.

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