Axovant, Genocea Plunge into Tuesday’s 52-Week Low Club
Axovant, Genocea Biosciences, Windstream Holdings, and Uniti Group all posted new 52-week lows Tuesday.
September 26, 2017: Here are four stocks trading with heavy volume among 43 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners by less than 3 to 2 and on the Nasdaq advancers led decliners by more than 4 to 3.
Axovant Sciences Ltd. (NASDAQ: AXON) dropped about 75% Tuesday to post a new 52-week low of $6.13 after closing at $24.25 on Monday. The stock’s 52-week high is $27.98. Volume of around 34 million was nearly 50 times the daily average. The company’s late stage trial of an Alzheimer disease treatment failed to meet its primary goals. Axovant joins a long list of companies that have failed to come up with a treatment for Alzheimer.
Genocea Biosciences Inc. (NASDAQ: GNCA) posted a new 52-week low of $1.30 on Tuesday, down about 76% from Monday’s closing price of $5.33. The stock’s 52-week high is $7.29. Volume totaled around 8.2 million shares, nearly 20 times the daily average. The company said today it was cutting staff and shifting its development focus.
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Uniti Group Inc. (NASDAQ: UNIT) dropped about 10% Tuesday to post a new 52-week low of $15.61 after closing at $17.36 on Monday. The 52-week high is $32.62. Volume was around 9.3 million, more than 4 times the daily average. The company had no specific news Tuesday.
Windstream Holdings Inc. (NASDAQ: WIN) also dropped about 10% Tuesday to post a new 52-week low of $1.76 after closing Monday at $1.96. The 52-week high is $10.46. Volume of around 6.8 million shares traded was about 30% higher than the daily average. The company had no specific 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.