Orexigen, Advaxis Tumble into Tuesday's 52-Week Low Club
March 13, 2018: Here are four stocks trading with heavy volume among 36 equities making new 52-week lows in Tuesday’s session. On the NYSE decliners led advancers by about 3 to 2 and on the Nasdaq, decliners led advancers by about 9 to 5.
Orexigen Therapeutics Inc. (NASDAQ: OREX) traded down about 12% Tuesday and posted a new 52-week low of $0.29 after closing Monday at $0.33. The stock’s 52-week high is $4.46. Volume was around 5.9 million, about 8 times the daily average. The company filed Monday for Chapter 11 bankruptcy.
Globalstar Inc. (NYSEAMERICAN: GSAT) traded down about 12.5% Tuesday and posted a new 52-week low of $0.77 after closing Monday at $0.88. The stock’s 52-week high is $2.59. Volume was about 70% above the daily average of around 3.7 million shares. The had no specific news.
Advaxis Inc. (NASDAQ: ADXS) fell about 20% Tuesday to post a new 52-week low of $1.76 after closing at $2.21 on Monday. The 52-week high is $9.55. Volume of around 3.7 million was about three times the daily average. The company said late Monday that a cancer drug test has been placed on hold following a patient’s death.
Piedmont Office Realty Trust Inc. (NYSE: PDM) dropped about 3.5% Tuesday to post a new 52-week low of $17.35. Shares closed at $17.98 on Monday and the stock’s 52-week high is $22.74. Volume was about 60% above the daily average of around 1.3 million shares. The company had no specific news.