Alnylam, Mylan Tumble into Thursday’s 52-Week Low Club
October 6, 2016: Here are four stocks trading with relatively heavy volume among 34 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by a slight margin and on the Nasdaq decliners led advancers by…
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October 6, 2016: Here are four stocks trading with relatively heavy volume among 34 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by a slight margin and on the Nasdaq decliners led advancers by about 1.5 to 1.
Alnylam Pharmaceuticals Inc. (NASDAQ: ALNY) lost about 50% Thursday to post a new 52-week low of $35.31 after closing Wednesday at $70.30. The 52-week high is $110.75. Volume of around 15 million was more than 20 times the daily average of around 640,000 shares traded. The company said today that it is discontinuing a late-stage clinical trial.
The Kroger Co. (NYSE: KR) lost about 0.4% Thursday to post a new 52-week low of $28.71 after closing Wednesday at $28.84. The 52-week high is $42.75. Volume of around 23 million was about 30% above the daily average of around 10 million shares traded. The company had no specific news Thursday and was headed for a closing gain of about 2% shortly before the bell.
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Mylan NV (NASDAQ: MYL) dropped about 4.2% on Thursday to post a new 52-week low of $36.43 after closing at $38.03 on Wednesday. The stock’s 52-week high is $55.51. Volume was about 50% higher than the daily average of around 6 million shares. The company was charged in a Senate hearing with bilking Medicare for more than $100 million.
Gilead Sciences Inc. (NASDAQ: GILD) dropped about 1.9% on Thursday to post a new 52-week low of $76.07 against a 52-week high of $111.11. Volume of about 8 million was more than 20% below the daily average of around 10.5 million. The stock closed at $77.57 on Wednesday night. The company is one of several that is being required to issue a black-box warning in labeling for new hepatitis C drugs .
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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.