Cellectar Biosciences (CLRB), Juno Therapeutics (JUNO), Newmont Mining (NEM) and More: What is Going on With These Falling Stocks?

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.

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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.

Goldcorp Inc. (USA) (NYSE:GG), Barrick Gold Corporation (USA) (NYSE:ABX), and Newmont Mining Corp (NYSE:NEM) are each in the red by more than 5% after gold futures sliced through the key $1,200-per-ounce level to trade close to $1,183 per ounce, or down by 2.3% for the day. Given that Donald Trump has proposed a series of inflationary policies in the short-term such as increasing infrastructure spending and cutting taxes, the prospects for a Federal Reserve interest rate hike have increased. Given that Treasuries compete for gold as a safe haven, rising Treasury yields have reduced demand for gold. In addition, given Trump’s America-first policy, there is the potential for less conflict around the world, particularly with Russia.

38 funds in our database were long Newmont Mining Corp (NYSE:NEM) on September 30, down by one quarter-over-quarter. Meanwhile, 45 were shareholders of Barrick Gold Corporation (USA) (NYSE:ABX), with 24 being long Goldcorp Inc. (USA) (NYSE:GG).

Disclosure: None