At a time when the broader indexes are rather quiet, Cellectar Biosciences Inc (NASDAQ:CLRB), Juno Therapeutics Inc (NASDAQ:JUNO), Newmont Mining Corp (NYSE:NEM), Barrick Gold Corporation (USA) (NYSE:ABX), and Goldcorp Inc. (USA) (NYSE:GG) are each considerably lower. Let’s find out what is going on with these five stocks, and see what the smart money thinks of them using the latest 13F filings.
At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.
Nano-cap Cellectar Biosciences Inc (NASDAQ:CLRB) has retreated by 32% after the company priced its underwritten public offering of $8 million in gross proceeds at an effective price of $1.50 per share of common stock and an associated 5-year warrant exercisable for one share of the company’s common stock, at an exercise price of $1.50 per share. Management intends to use the net proceeds from the offering for general corporate and working capital purposes, including continued development of CLR 131 for the potential treatment and management of multiple myeloma and other hematologic malignancies, as well as the continued development of targeted therapeutic cancer agents using the company’s proprietary phospholipid drug conjugate delivery platform. None of the 742 funds tracked by Insider Monkey which filed 13Fs for the September quarter were long Cellectar Biosciences Inc (NASDAQ:CLRB) at the end of the third quarter. As with all nano-caps, traders should exercise due diligence before making any trade.
Juno Therapeutics Inc (NASDAQ:JUNO) is 26% in the red after the company announced that it has voluntarily placed a Phase II clinical trial of JCAR015 in adult patients with relapsed or refractory B cell acute lymphoblastic leukemia, on hold. The hold was placed after two patients in the study suffered cerebral edema. One patient died and the other is “not expected to recover.” In brighter news, Juno’s trials for the other CD19-directed CAR T cell product candidates, including JCAR017, are not affected. 16 funds in our system were long Juno Therapeutics Inc (NASDAQ:JUNO) at the end of Q3, up by five from the end of Q2.
On the next page, we’ll examine why Newmont Mining Corp, Barrick Gold Corporation, and Goldcorp are taking it on the chin this morning.