March 28, 2016: Here are four stocks trading with relatively heavy volume among 36 equities making new 52-week lows in Monday’s session.
Portola Pharmaceuticals Inc. (NASDAQ: PTLA) posted a new 52-week low on Monday. Shares traded at a low of $18.20, down about 10%, after closing at $20.27 on Thursday. The stock’s 52-week high is $57.96. Volume totaled more than 4 times the daily average of around 1 million shares. Last week the company announced a failure to meet expected thresholds in a phase 3 trial and shares were downgraded by Goldman Sachs earlier this morning.
H&R Block Inc. (NYSE: HRB) dropped about 1.6% on Monday to post a new 52-week low of $26.19 against a 52-week high of $37.53. The stock closed at $26.61 on Thursday night. Volume totaled about 2.2 million shares compared with the stock’s daily average volume of around 3.2 million. The tax preparation company had no specific news on Monday.
Lannett Company Inc. (NYSE: LCI) dropped about 7.6% on Monday to post a new 52-week low at $16.91 after closing at $18.31 on Thursday. The stock’s 52-week high is $72.44. Share volume of about 2 million was nearly double the daily average of around 1.1 million shares traded. Last Thursday Canaccord Genuity downgraded the stock after Lannett revised 2016 guidance.
24/7 Wall St.PJT Partners Inc. (NYSE: PJT) fell by nearly 25% on Monday to post a new 52-week low of $19.96 against a high of $30.00. The stock closed at $26.47 on Thursday night. Volume rose to around 2.2 million shares, about 20x the daily average of around 170,000 shares traded. A former director of the investment advisory firm was arrested Monday morning on a securities fraud charge.
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