June 7, 2016: Here are four stocks trading with relatively heavy volume among 13 equities making new 52-week lows in Tuesday’s session. NYSE advancers led decliners by less than 2 to 1 while Nasdaq advancers and decliners traded about even.
Valeant Pharmaceuticals International Inc. (NYSE: VRX) fell about 22% on Tuesday to post a new 52-week low of $22.52 against a high of $263.81. The stock closed at $28.85 on Monday night. Volume reached nearly 98 million shares, nearly triple the stock’s daily average of around 34.5 million. The struggling drugmaker reported earnings this morning, and cut its guidance.
ProNAi Therapeutics Inc. (NASDAQ: DNAI) posted a new 52-week low on Tuesday. Shares traded at a low of $2.02, down about 2.4%, after closing at $2.07 on Monday. The stock’s 52-week high is $33.75. Volume was more than 10 times the daily average of 380,000 shares. The drug maker reported poor results of a cancer drug trial Monday morning and the sell-off continues.
Signet Jewelers Ltd. (NYSE: SIG) dropped by about 2.6% on Tuesday to post a new 52-week low at $84.15 after closing at $86.39 on Monday. The stock’s 52-week high is $152.27. Daily volume totaled around 2.5 million shares, about 50% above the average of around 1.6 million shares. The company had no specific news Tuesday, but continues to suffer from bad news coverage last week.
Mirati Therapeutics Inc. (NASDAQ: MRTX) dropped about 9.5% on Tuesday to post a new 52-week low of $9.23 against a 52-week high of $52.00. The stock closed at $10.20 on Monday night. Volume was nearly 6 times the stock’s daily average volume of around 240,000 shares. Another drugmaker that reported weak trial results on Monday.