Targacept (TRGT) and JCPenney (JCP) were among the biggest losers in early trading Tuesday. The morning’s list of biggest losers includes some new names and a couple of familiar ones that had already been having a bad week.
Take a closer look at a few of Tuesday’s biggest stock losers.
Biggest Stock Losers
Targacept (TRGT, -34%): TRGT shares fell 34% following the biopharmaceutical company’s announcement that it will stop testing a therapy for schizophrenia and Alzheimer’s disease. TC-5619 was seen as a potential therapy for certain symptoms of schizophrenia and Alzheimer’s but Targacept dropped it after schizophrenia patients showed no improvement to the drug.
Rockwell Medical Technologies (RMTI, -25%): After a month of steady decline, RMTI stock took a massive hit Tuesday morning.
Combimatrix (CBMX, -20%): CBMX stock is down 20% following the molecular diagnostics company’s announcement to price a $12 million underwritten public offering.
Unilife (UNIS, -8.5%): UNIS stock took a tumble in early trading Tuesday following a healthy month that saw its value increase by 59%.
Opko Health (OPK, -7%): OPK stock is one of the week’s biggest stock losers with shares down 27% over the last five days.
Amtrust Financial Services (AFSI, -7%): Insurance company Amtrust has had a good year, but the last five days have seen AFSI shares down 19%.
JC Penney (JCP, -4%): Former JCPenney CEO Ron Johnson spoke out for the first time since losing his job eight months ago. Despite Johnson’s best wishes for the company, JCP stock is down 4% Tuesday morning.