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Ophthotech, Alexion Tumble into Monday’s 52-Week Low Club

December 12, 2016: Here are four stocks trading with relatively heavy volume among 28 equities making new 52-week lows in Monday’s session. On the NYSE, decliners led advancers by nearly 2 to 1 and on the Nasdaq decliners led advancers…

By Paul Ausick
Published December 12, 2016, 4:04pm ET · 1 min read

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December 12, 2016: Here are four stocks trading with relatively heavy volume among 28 equities making new 52-week lows in Monday’s session. On the NYSE, decliners led advancers by nearly 2 to 1 and on the Nasdaq decliners led advancers by more than 2 to 1.

Ophthotech Corp. (NASDAQ: OPHT) dropped about 86% on Monday to post a new 52-week low of $5.25 after closing at $38.77 on Friday. The stock’s 52-week high is $80.00. Volume of about about 46 million shares was nearly 46 times the daily average of 1 million. The company announced a failed late-stage clinical trial.

Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) dropped about 16.9% on Monday to post a new 52-week low of $109.80 against a 52-week high of $193.45 and a Friday close of $132.07. Volume of around 12.5 million was almost 6 times the daily average of around 2.2 million. The company’s CEO and CFO left the company.

FitBit Inc. (NYSE: FIT) lost 2.8% Monday to post a new 52-week low of $7.60 after closing Friday at $7.82. The 52-week high is $30.96. Volume of around 8 million was about 20% below the daily average of around 10 million shares traded. The company had no specific news Monday.

Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR) dropped about 7.4% on Monday to post a new 52-week low of $1.25 after closing at $1.35 on Friday. The stock’s 52-week high is $8.22. Volume was about 25% above the daily average of around 1.6 million shares. The company had no specific news.

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Paul Ausick

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.

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