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TheStreet Open House

6 Stocks Hitting New 52-Week Highs

Arrowhead Research

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Arrowhead Research (ARWR) is a development-stage company. Arrowhead is a nanomedicine company engaged in development therapeutic products at the interface of biology and nano-engineering to cure disease and improve human health. This stock is trading up 47% to $79 cents in recent trading after hitting a 52-week high of $1.19 earlier in the day.

Today's Range: $0.71-$1.19

52-week Range: $0.31-$1.19

Volume: 4,850,000

Three-Month Average Volume: 121,682

Arrowhead Research has a market cap of $58.90 million and an enterprise value of $33.86 million. The stock trades at a price-to-book of 3.61 and a price-to-sales of 41.94. The current short interest as a percentage of the float for Arrowhead is a very low 1.3%.

This stock is soaring today after the company announced the publication of data from its subsidiary Ablaris Therapeutics's lead drug candidate, Adipotide, demonstrating weight loss and reduction of body mass index in obese monkeys.

From a technical standpoint, this stock has given back a lot of its gains from earlier in the day when it touched $1.19 a share, and the volume is huge. (It also shows up on today's list of Stocks Rising on Unusual Volume.)

For now, I would avoid this name until it can consolidate some more and find support levels where buyers step in. This move is simply a super spike that's not sustainable in the short term. That said, if the stock can hold above 78 cents, it would be constructive since that's previous resistance level.

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