Aquinox Pharmaceuticals Inc AQXP shares are trading lower by $0.70 (4.4 percent) at $17.07 in Friday's session. The decline comes after the issue was trading higher by $0.58, when it peaked at $18.35 shortly after the opening bell.
The higher open was instigated by an initiation of coverage at Cantor Fitzgerald with an Overweight rating.
Since reversing course, it has continued to make new lows for the session, with the current one standing a $16.98. Interestingly, the issue added over $2.00 on Thursday ($15.48 to $17.77) on no news. Therefore, if looking for a daily support level in the issue it may be limited since Thursday's low is down at $15.43.
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