July 21, 2016: Here are four stocks trading with relatively heavy volume among 15 equities making new 52-week lows in Thursday’s session. NYSE decliners led advancers by about 3 to 2 and Nasdaq decliners led advancers by nearly 2 to 1.
Zafgen Inc. (NASDAQ: ZFGN) lost about 10.5% Thursday to post a new 52-week low of $2.90 versus a high of $47.98 after closing Wednesday at $3.24. Volume totaled more than 7 times the daily average of about 560,000 shares. The biotech firm said Wednesday morning that it is halting development of a drug candidate and cutting its workforce by more than a third. Shares fell by more than 50% on Wednesday.
Fibria Celulose SA (NYSE: FBR) fell by about 3.2% on Thursday to post a new 52-week low of $6.07 against a high of $14.94. The stock closed at $6.27 on Wednesday night. Volume was more than double the stock’s daily average of around 1.6 million. The company had no specific news Thursday.
Monotype Imaging Holdings Co. (NASDAQ: TYPE) slipped more than 30% on Thursday to post a new 52-week low of $17.32 after closing at $24.92 on Wednesday. The stock’s 52-week high is $27.76. Volume reached nearly 20 times the daily average of around 150,000shares. The typeface design and technology company announced this morning that it intends to acquire Olapic for about $130 million.
Essendant Inc. (NASDAQ: ESND) dropped about 37.5% on Thursday to post a new 52-week low of $20.30 against a 52-week high of $38.74. Volume was nearly 15 times the daily average of around 160,000. The stock closed at $10.48 on Wednesday night. The company missed profit expectations when it reported results this morning.