Weight Watchers, AxoGen Wade into Monday's 52-Week Low Club
January 7, 2019: Here are four stocks trading with heavy volume among 20 equities trading at new 52-week lows Monday. On the NYSE, advancers led decliners by about 4.2 to 1 and advancers led decliners on the Nasdaq by about 2.9 to 1.
The three major indexes are all on track to post solid gains in Monday’s trading session. Crude oil traded up about 1.2% on the day to settle at $48.52 a barrel. Gold settled up about 0.3% at $1,289.90 for the day.
La Jolla Pharmaceutical Co. (NASDAQ: LJPC) dropped nearly 48% Monday to set a new 52-week low of $5.51. Shares closed at $10.52 on Friday and the stock’s 52-week high is $41.36. Volume was about eight times the daily average of around 450,000. The company warned this morning that revenue would drop to about half of previous analyst projections.
Weight Watchers International Inc. (NYSE: WTW) traded down about 5.6% Monday and posted a new 52-week low of $35.23 after closing Friday at $37.32. The stock’s 52-week high is $105.73. Volume was about 60% above the daily average of around 2 million. The company had no specific news.
AxoGen Inc. (NASDAQ: AXGN) traded down about 25% to post a new 52-week low of $16.00 Monday after closing at $21.31 on Friday. The stock’s 52-week high is $56.85. Volume was about six times the daily average of around 640,000. The company announced preliminary quarterly results this morning that apparently didn’t live up to expectations.
Adient plc (NYSE: ADNT) traded down about 4.3% to post a new 52-week low of $14.52 Monday after closing at $15.18 on Friday. The stock’s 52-week high is $84.20 and volume was about 50% above the daily average of around 2.2 million. The company had no specific news, but the share price had reversed the morning’s loss and is on track for a gain of around 7.5% for the day.