Tetraphase Pharma, Tanger Dive into Wednesday's 52-Week Low Club
February 14, 2018: Here are four stocks trading with heavy volume among 81 equities making new 52-week lows in Wednesday’s session. On the NYSE advancers led decliners by more than 2 to 1 and on the Nasdaq, advancers led decliners by about 11 to 4.
Tetraphase Pharmaceuticals Inc. (NASDAQ: TTPH) dropped more than 61% Wednesday to post a new 52-week low of $2.10 after closing at $5.43 on Tuesday. The stock’s 52-week high is $6.97. Volume was around 15 million, more than 30 times the daily average of about 480,000. The company reported failing results on a phase 3 clinical trial.
Neovasc Inc. (NASDAQ: NVCN) fell about 21% Wednesday to post a new 52-week low of $0.26 after closing at $0.33 on Tuesday. The 52-week high is $2.12. Volume of about 7.3 million was around 7 times the daily average. The medical device maker had no specific news.
Tanger Factory Outlet Centers Inc. (NYSE: SKT) traded down nearly 10% Wednesday and posted a new 52-week low of $21.14 after closing Tuesday at $23.47. The stock’s 52-week high is $34.76. Volume was around 6.9 million, nearly five times the daily average. The companr reported results after markets closed Tuesday.
Baker Hughes, a GE company (NYSE: BHGE) traded down about 1.4% Wednesday and posted a new 52-week low of $25.63 after closing Tuesday at $25.94. The stock’s 52-week high is $64.24. Volume was around 4.8 million, about 15% below the daily average of 5.3 million shares. The company had no specific news.