January 9, 2018: Here are four stocks trading with heavy volume among 59 equities making new 52-week lows in Tuesday’s session. On the NYSE decliners led advancers by less than 3 to 2 and on the Nasdaq, decliners led advancers by less than 100 issues.
Ohr Pharmaceuticals Inc. (NASDAQ: OHRP) dropped more than 10% Tuesday to post a new 52-week low of $0.35 after closing at $0.39 on Monday. The stock’s 52-week high is $2.18. Volume was around 7.55 million, nearly 4 times the daily average of around 2.1 million. The company had no specific news.
Axovant Sciences Ltd. (NASDAQ: AXON) fell about 3.5% to post a new 52-week low of $2.23 Tuesday after closing at $2.31 on Monday. The 52-week high is $27.98. Volume of about 5.9 million was nearly 5 times the daily average of around 1.4million. On Monday, the company’s Alzheimer disease drug posted poor results in a trial.
Axsome Therapeutics Inc. (NASDAQ: AXSM) traded down about 43% Tuesday and posted a new 52-week low of $3.20 after closing Monday at $5.55. The 52-week high is $6.45. Volume was about 3.8 million, about 19 times the daily average of around 220,000 shares. The company will stop a “futile” portion of a trial of its treatment for knee osteoarthritis.
Ziopharm Oncology Inc. (NASDAQ: ZIOP) dropped more than 10% Tuesday to post a 52-week low of $3.77 after closing at $4.20 on Monday. The 52-week high is $7.88. Volume was around 3.7 million, more than double the daily average. The company reported Tuesday on progress of two platforms it is developing and investors did not like what they heard.