Investing
Incyte, NewLink Genetics Crash into Friday's 52-Week Low Club
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April 6, 2018: Here are four stocks trading with heavy volume among 80 equities making new 52-week lows in Friday’s session. On the NYSE decliners led advancers by about 4 to 1 and on the Nasdaq, decliners led advancers by somewhat less than 4 to 1.
Incyte Corp. (NASDAQ: INCY) fell by about 23% Friday to post a new 52-week low of $63.81 after closing at $83.07 on Thursday. The 52-week high is $144.32. Volume of about 22.2 million was about 20 times the daily average. The company failed to meet its primary endpoint in a cancer drug study.
McDermott International Inc. (NYSE: MDR) traded down about 7.9% Friday to post a new 52-week low of $5.38 after closing Thursday at $5.84. The stock’s 52-week high is $9.07. Volume was more than double the daily average of around 7.5 million shares. The company said this morning that remains committed to i’s proposed merger with Chicago Bridge & Iron, irrespective of negative sentiment from investment firm Hotchkis & Wiley.
NewLink Genetics Corp. (NASDAQ: NLNK) traded down about 46% Friday and posted a new 52-week low of $3.95 after closing Thursday at $7.32. The stock’s 52-week high is $20.47. Volume totaled nearly 14 million, about 20 times the daily average. The company’s future is getting a close look after this morning’s failed trial announcement from Incyte.
The Williams Companies Inc. (NYSE: WMB) dropped about 3.2% Friday to post a new 52-week low of $24.00. Shares closed at $24.80 on Thursday and the stock’s 52-week high is $33.67. Volume was 15% below the daily average of around 7.6 million shares. The company had no specific news.
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