The 52-Week Low Club for Friday
March 11, 2016: Here are four stocks trading with heavy volume among 16 equities making new 52-week lows in Friday’s session. Celldex Therapeutics Inc. (NASDAQ: CLDX) posted a new 52-week low on Friday. Shares traded at a low of $3.42,…
March 11, 2016: Here are four stocks trading with heavy volume among 16 equities making new 52-week lows in Friday’s session.
Celldex Therapeutics Inc. (NASDAQ: CLDX) posted a new 52-week low on Friday. Shares traded at a low of $3.42, down about 5.3%, after closing at $3.61 on Thursday. The stock’s 52-week high is $32.82. Volume totaled about 30% above the daily average of around 3.4 million shares. The company had no news Friday but continues to slip on the failed cancer vaccine trial.
BioDelivery Sciences International Inc. (NASDAQ: BDSI) fell by about 14.7% on Friday to post a new 52-week low of $2.90 against a high of $15.50. The stock closed at $3.40 on Thursday night. Volume rose to more than 3 million shares, about 3 times the daily average of about 1.1 million shares traded. The healthcare company reported earnings Thursday night that fell short of expectations.
DryShips Inc. (NASDAQ: DRYS) dropped about 37% on Friday to post a new 52-week low of $2.00 against a 52-week high of $22.25. The stock closed at $2.74 on Thursday night. Volume rose to nearly 2 million shares, about 6 times the stock’s daily average volume of around 270,00. The dry bulk shipping company effected a 1-for-25 reverse stock split Friday morning. Shares traded at around $0.14 prior to the reverse split.
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Lannett Company Inc. (NYSE: LCI) dropped by about 4.4% on Friday to post a new 52-week low at $21.11 after closing at $22.08 on Thursday. The stock’s 52-week high is $72.44. Share volume was nearly 30% higher than the daily average of around 820,000 shares traded. The company had no news Friday and was on track to close the trading session up about 1.5%.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.