Cytokinetics, EP Energy Dive into Tuesday's 52-Week Low Club
November 21, 2017: Here are four stocks trading with heavy volume among 56 equities making new 52-week lows in Tuesday’s session. On the NYSE advancers led decliners by about 2 to 1 and on the Nasdaq, advancers led decliners by about the same ratio.
Cytokinetics Inc. (NASDAQ: CYTK) dropped about 37% Tuesday to post a new 52-week low of $7.00 after closing at $11.10 on Monday. The 52-week high is $17.20. Volume was around 7 million, about 14 times the daily average of less than 500,000. The company’s ALS drug failed ti meet its endpoint in a phase 3 study.
Patterson Companies Inc. (NASDAQ: PDCO) dropped about 7.9% Tuesday to post a new 52-week low of $32.07 after closing at $34.82 on Monday. The 52-week high is $48.30. Volume was around 5 million, more than three times the daily average of around 1.6 million. The distributor of dental and animal health care products missed earnings and revenues estimates this morning.
EP Energy Corp. (NYSE: EPE) posted a new 52-week low of $1.85 Tuesday, down nearly 22% after closing at $2.37 on Monday. The 52-week high is $7.49. Volume was about 3.2 million, around 5 times the daily average of around 600,000. The oil and gas exploration and production firm has launched an exchange program extending the maturity date to 2024 on $1.2 billion in 9.375% notes due in 2020.
Enbridge Energy Partners LP (NYSE: EEP) dropped about 4.4% Tuesday to post a new 52-week low of $12.68 after closing at $13.27 on Monday. The stock’s 52-week high is $26.17. Volume of around 3.4 million was about more than double the daily average. The pipeline company had no specific news.