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NEW YORK ( TheStreet) -- Targacept (Nasdaq: TRGT) hit a new 52-week low Friday as it is currently trading at $4.14, below its previous 52-week low of $4.16 with 29,709 shares traded as of 9:40 a.m. ET. Average volume has been 793,800 shares over the past 30 days. Targacept has a market cap of $145.6 million and is part of the health care sector and drugs industry. Shares are down 24.6% year to date as of the close of trading on Thursday. Targacept, Inc., a biopharmaceutical company, engages in the discovery, design, and development of neuronal nicotinic receptors (NNR) therapeutics for the treatment of diseases and disorders of the nervous system.