Celldex, Acacia Plummet into Monday's 52-Week Low Club
April 16, 2018: Here are four stocks trading with heavy volume among 46 equities making new 52-week lows in Monday’s session. On the NYSE advancers led decliners by about 11 to 4 and on the Nasdaq, advancers led decliners by nearly 2 to 1.
Celldex Therapeutics Inc. (NASDAQ: CLDX) traded down nearly 65% Monday to post a new 52-week low of $0.76 after closing Friday at $2.15. The stock’s 52-week high is $3.42. Volume was about 25 times the daily average of around 1.4 million shares. The company’s breast cancer drug failed to meet a phase 2 study’s primary endpoint.
Acacia Communications Inc. (NASDAQ: ACIA) fell by more than 38% Monday to post a new 52-week low of $24.72 after closing at $40.03 on Friday. The 52-week high is $55.21. Volume of about 11.7 million was more than 20 times the daily average. The U.S. government on Monday said it would ban the sale of components such as those made by Acacia to Chinese phonemaker ZTE.
Apricus Biosciences Inc. (NASDAQ: APRI) also dropped about 38% Monday to post a new 52-week low of $0.26. Shares closed at $0.42 on Friday and the stock’s 52-week high is $3.34. Volume was more than three times the daily average of around 1.4 million shares. The company is considering its options after the U.S. FDA directed the firm to develop a new formulation for its erectile dysfunction drug, Vitaros.
Ctrip.com International Ltd. (Nasdaq: CTRP) traded down about 3.5% Monday and posted a new 52-week low of $42.36 after closing Friday at $43.91. The stock’s 52-week high is $60.65. Volume totaled around 4.8 million, about equal to the daily average. The company had no specific news.