January 18, 2019: Here are four stocks trading with heavy volume among 20 equities that have posted new 52-week lows by the noon hour Friday. On the New York Stock Exchange, advancers led decliners by about 3.12 to 1 and advancers led decliners on the Nasdaq by about 2.68 to 1.
The three major indexes traded more than 1% higher on hopes that U.S.-China trade talks will continue. Crude oil traded up about 2.9% on the day at $53.59 a barrel. Gold was trading down about 0.8% at $1,282.30 for the day.
Immunomedics Inc. (NASDAQ: IMMU) traded down about 36% to post a new 52-week low of $11.57 Friday, after closing at $18.09 on Thursday. The stock’s 52-week high is $27.33. Volume was nearly 10 times the daily average of around 300,000. The U.S. Food and Drug Administration (FDA) has asked for a complete response from the company regarding its breast cancer treatment. This is often the kiss of death for a new drug candidate.
Nautilus Inc. (NYSE: NLS) dropped more than 42% Friday to set a new 52-week low of $6.78. Shares closed at $11.79 on Thursday, and the stock’s 52-week high is $17.20. Volume was about 20 times the daily average of about 250,000. The exercise equipment maker announced preliminary financial results late Thursday, and the diving stock price tells all you need to know about how the numbers were received.
Signet Jewelers Ltd. (NYSE: SIG) traded down about 2.9% Friday and posted a new 52-week low of $24.41, after closing Thursday at $25.13. The stock’s 52-week high is $71.07. Volume was nearly double the daily average of around 1.8 million. The jewelry retailer cut its fourth-quarter guidance Thursday morning, but investors appear to have forgiven all as the stock traded about 1.2% higher at noon Friday.
Lexicon Pharmaceuticals Inc. (NASDAQ: LXRX) traded down about 31% to post a new 52-week low of $5.29 Friday, after closing at $7.70 on Thursday. The stock’s 52-week high is $13.97, and volume was about six times the daily average of around 500,000. Late Thursday an FDA advisory committee split its vote eight to eight on the question of whether the benefits of Lexicon’s type-1 diabetes treatment outweighed the risks. Not exactly a ringing endorsement as the drug now goes on to seek final approval.