CVR Refining, ImmunoGen Join Wednesday’s 52-Week Low Club
July 13, 2016: Here are four stocks trading with relatively heavy volume among 11 equities making new 52-week lows in Wednesday’s session. NYSE decliners led advancers by a small margin and Nasdaq decliners led advancers by about 3 to 2.…
July 13, 2016: Here are four stocks trading with relatively heavy volume among 11 equities making new 52-week lows in Wednesday’s session. NYSE decliners led advancers by a small margin and Nasdaq decliners led advancers by about 3 to 2.
Avinger Inc. (NASDAQ: AVGR) fell by nearly 43% on Wednesday to post a new 52-week low of $6.52 against a high of $25.11. The stock closed at $11.43 on Tuesday night. Volume topped 2.3 million shares, more than 20 times the stock’s daily average of around 100,000. The company announced preliminary earnings and lowered guidance earlier on Wednesday.
CVR Refining LP (NYSE: CVRR) dropped about 6.9% on Wednesday to post a new 52-week low of $6.20 against a 52-week high of $22.74. Volume was about double the daily average of around 630,000. The stock closed at $6.66 on Tuesday night. The oil refiner had no specific news, but swelling supplies of gasoline have not helped refining stocks in Wednesday’s trading session.
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ImmunoGen Inc. (NASDAQ: IMGN) lost nearly 3.4% to post a new 52-week low of $2.87 versus a high of $19.43. Volume totaled about 60% less than the daily average of nearly 2.3 million. The biotech firm had no specific news Wednesday.
Scynexis Inc. (NASDAQ: SCYX) slipped 6.2% on Wednesday to post a new 52-week low of $1.97 after closing at $2.10 on Tuesday. The stock’s 52-week high is $9.00. Volume reached nearly 3 times the daily average of around 150,000 shares. The company had no news.
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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.