NEW YORK ( TheStreet) -- Central Jersey Bancorp ( CJBK) was among several stocks trading near $5 poised to move on above-average volume Wednesday as the stock more than doubled in price on a merger agreement.

Central Jersey Bancorp shares surged after Kearny Financial ( KRNY) said it would acquire the bank in a $72.3 million all-cash deal. Shareholder of Central Jersey Bancorp will receive $7.50 per share, a 143% premium to Tuesday's closing price of $3.08.

Central Jersey Bancorp shares rallied by $4.06, or 131.8%, to $7.14 in the premarket session. The 50-day average daily volume for Central Jersey Bancorp is 18,000, according to the Nasdaq.

On the other hand, GTx ( GTXI) shares plunged by $1.02, or 33.8%, to $2 in the premarket session after the company's experimental prostate cancer drug, toremifene 20 mg, failed to show statistical significance in preventing cancer in high-risk patients in a late-stage trial when compared to a placebo.

GTx said it will pursue it partnership with Ipsen to develop toremifene 80 mg and are planning a second Phase III clinical trial evaluating toremifene 80 mg to reduce fractures and treat other estrogen deficiency side effects of androgen deprivation therapy for prostate cance. The 50-day average daily volume for GTx is 189,000.

Elsewhere, Zale ( ZLC) rose by 7 cents, or 2.6%, to $2.75 in the premarket session after the jewelry retailer reported a fiscal third-quarter adjusted loss of 76 cents a share on sales of $360 million, compared to estimates Zale would report a loss of 95 cents a share on revenue of $354.1 million.

Zale earlier this month secured a $150 million lifeline from private-equity firm Golden Gate Capital, as well as a new $650 million credit line shore up its cash position. The three-month average daily volume for Zale is 2.25 million, according to Yahoo! Finance.

Solarfun Power Holdings ( SOLF) jumped by 68 cents, or 10.9%, to $6.95 in the premarket session after the company posted a first-quarter profit of 40 cents a share on revenue of $216.2 million, above the consensus target for a profit of 19 cents a share on revenue of $191.7 million. The 50-day average daily volume for Solarfun is 1.78 million.

BluePhoenix Solutions ( BPHX) slid by 11 cents, or 7.3%, to $1.39 in the premarket session after the company notched an adjusted first-quarter profit of a penny a share, which was below the Thomson Reuters average estimate for a profit of 5 cents a share. Revenue of $17.4 million was below the $18.4 million consensus.. The 50-day average daily volume for BluePhoenix is 87,000.

Hauppauge Digital ( HAUP) shares inched higher by 3 cents, or 1%, to $3.14 in the premarket session after the company said it has regained compliance with the Nasdaq's minimum closing bid price requirement. The 50-day average daily volume for Hauppauge Digital is 1.24 million.

Hauppauge Digital shares have fluctuated wildly following a May 13 announcement that the company's WinTV-HVR TV tuner boards for PCs can now stream live TV over the Internet to the Apple ( AAPL) iPad, iPhone and iPod touch.

-- Written by Robert Holmes in Boston.

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