Tuesday’s Biggest Stock Losers: TRGT, JCP, and More

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.

biggest stock losersAs the broader market posted losses, there were several stocks that had an exceptionally rough morning.

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.

Article printed from InvestorPlace Media, https://investorplace.com/2013/12/biggest-stock-losers-trgt-rmti-jcp/.

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