Investing
Alexion, Ophthotech Don't Escape Tuesday's 52-Week Low Club
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December 13, 2016: Here are four stocks trading with relatively heavy volume among 41 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners by about 3 to 2 and on the Nasdaq advancers led decliners by about 4 to 3.
Protalix BioTherapeutics Inc. (NYSEMKT: PLX) dropped about 21% on Tuesday to post a new 52-week low of $0.26 after closing at $0.33 on Monday. The stock’s 52-week high is $1.05. Volume was nearly 20 times the daily average of around 660,000 shares. The company had no specific news.
Ophthotech Corp. (NASDAQ: OPHT) dropped about 5.8% on Tuesday to post a new 52-week low of $5.00 after closing at $5.29 on Monday. The stock’s 52-week high is $80.00. Volume of about 11.2 million shares was about 10 times the daily average of 1.1 million. The company announced a failed late-stage clinical trial on Monday.
Inovalon Holdings Inc. (NASDAQ: INOV) lost 37.7% Tuesday to post a new 52-week low of $9.25 after closing Monday at $14.85. The 52-week high is $20.05. Volume of around 6.5 million was more than 12 times the daily average of around 620,000 shares traded. The company cut its fiscal 2016 guidance this morning.
Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) dropped about 5.2% on Tuesday to post a new 52-week low of $109.12 against a 52-week high of $193.45 and a Monday close of $115.08. Volume of around 5.2 million was more than double the daily average of around 2.2 million. The company’s CEO and CFO left the company on Monday following an investigation that forced the firm to delay its 10-Q filing.
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