Versartis, Intercept Pharma Plunge into Friday’s 52-Week Low Club
Versartis, Intercept Pharma, Kroger, and Mattel all posted new 52-week lows on Friday.
September 22, 2017: Here are four stocks trading with heavy volume among 35 equities making new 52-week lows in Friday’s session. On the NYSE, advancers led decliners by nearly 2 to 1 and on the Nasdaq advancers led decliners by about 9 to 5.
Versartis Inc. (NASDAQ: VSAR) posted a new 52-week low of $2.65 on Friday, down about 88% from Thursday’s closing price of $21.60. The stock’s 52-week high is $24.00. Volume totaled around 34 million shares, about 100 times the daily average. The company said this morning that a phase III drug trial failed to meet its primary endpoint.
Intercept Pharmaceuticals Inc. (NASDAQ: ICPT) dropped more than 17% Friday to post a new 52-week low of $60.97 after closing Thursday at $73.70. The 52-week high is $172.75. Volume of more than 10 million shares traded was about 12 times the daily average. The FDA on Thursday issued a warning letter on the company’s liver disease treatment.
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The Kroger Co. (NYSE: KR) dropped about 0.9% Friday to post a new 52-week low of $20.04 after closing at $20.22 on Thursday. The stock’s 52-week high is $36.44. Volume of around 10 million was around 30% below the daily average. The company had no specific news.
Mattel Inc. (NASDAQ: MAT) dropped about 4% Friday to post a new 52-week low of $14.39 after closing at $15.00 on Thursday. The 52-week high is $33.23. Volume was around 7.5 million, less than 10% above the daily average. The company said Thursday that it had amended some of its debt covenants.
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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.
