Market Overview

Early Volume Plays Among Those Valued Below $10 (BEAT, OREX, ONCY, CBRX)

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Some of the stocks that are valued below $10 and have the potential to become one of the high volume movers in the early trading hours are:

Today, Citigroup downgraded Cardionet (NASDAQ: BEAT) from “hold” to “sell.” Following the news, shares of BEAT plunged 5.8% to $7.27 in the pre-market session. At 10:02 am, the stock was trading at $7.10, down 8.03%. Cardionet has a 50-day average daily volume of 444,000.

Orexigen Therapeutics (NASDAQ: OREX) announced today that it has received approval from the Food and Drug Administration (FDA) for filing the New Drug Application (NDA) for Contrave®, its investigational drug for the treatment of obesity. The stock climbed 5.5% to $5.74 in pre-market hours after the news. However, by 10:06 am, OREX had slipped 2.57% to $5.30. The stock has a 50-day average daily volume of 666,000.

Oncolytics Biotech (NASDAQ: ONCY) announced today that it has received approval from the Belgian Federal Agency for Medicines and Health Products (FAMHP) to conduct its Phase 3 trial. The trial will examin ONCY’s REOLYSIN in combination with paclitaxel and carboplatin in patients with platinum-refractory head and neck cancers. Led by the news, shares of ONCY jumped 7.9% to $3.17 during pre-market trading. The company has a 50-day average daily volume of 100,000.

Columbia Laboratories (NASDAQ: CBRX) announced that it has signed a $15 million subordinated term loan with Watson Pharmaceuticals (NYSE: WPI). CBRX’s activities related to the PROCHIEVE 8% progesterone gel and the related study, another development program for the preterm birth indication and other general corporate purposes will be financed with the help of the loan proceeds. Shares of CBRX surged 13.3%, to $1.19 in pre-market hours. The company has a 50-day average daily volume of 290,000.

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Posted-In: Citigroup Early Volume PlaysNews Downgrades Intraday Update Markets Analyst Ratings Movers

 

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