Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Here’s why Microsoft, ImmunoGen, and Three Other Stocks Are Trending on Tuesday

Page 1 of 2

The three major index futures and crude are once again in the red on Tuesday amid Brexit fears. If Britain leaves the EU, there could be an unexpected financial shock that causes corporate earnings to fall and demand for crude to decline. The fear is driving a ‘risk-off’ approach to the market that has kept the indexes and crude in the red for now. Among the stocks trending this morning are ImmunoGen, Inc. (NASDAQ:IMGN), Revance Therapeutics Inc (NASDAQ:RVNC), Microsoft Corporation (NASDAQ:MSFT), LinkedIn Corp (NYSE:LNKD), and Amazon.com, Inc. (NASDAQ:AMZN). Let’s take a closer look why these stocks are in the spotlight today and see what elite funds think about them.

We believe that imitating hedge funds and other large institutional investors can be helpful in identifying stocks capable of outperforming the broader market. Through extensive research that covered portfolios of several hundred large investors between 1999 and 2012, we determined that following the small-cap stocks that large money managers are collectively bullish on, can generate monthly returns nearly 1.0 percentage points above the market (see the details here).

Amazon.com, Inc. (NASDAQ:AMZN), Boxes, Parcel, Retail, Order, delivery, post, shipping, stack

Frank Gaertner / Shutterstock.com

ImmunoGen Down on Offering

ImmunoGen, Inc. (NASDAQ:IMGN) is off by 11% in pre-market after the company proposed a $100 million convertible senior note offering due 2021. The notes will be offered to only qualified institutional buyers and the sale is expected to close on June 20. ImmunoGen intends to use the net proceeds for its operations, including clinical trial expenditures, R&D, and other purposes. The exact pricing of the convertible notes has not been released yet. The number of funds tracked by Insider Monkey with holdings in ImmunoGen, Inc. (NASDAQ:IMGN) rose by one quarter-over-quarter to 13 at the end of March.

Follow Immunogen Inc (NASDAQ:IMGN)
Trade (NASDAQ:IMGN) Now!

Revance Declines on Study Results

Revance Therapeutics Inc (NASDAQ:RVNC) shares are 23% in the red after a Phase 3 study showed the company’s lead product candidate, RT001, failed to achieve its co-primary and other endpoints for the potential treatment of patients with moderate to severe lateral canthal lines, or crow’s feet. The company will discontinue the development of RT001 for crow’s feet or for axillary hyperhidrosis. The company will instead focus its efforts on RT002 for the potential treatment of glabellar lines and other indications. Based on its current development plans, Revance Therapeutics Inc (NASDAQ:RVNC) expects its cash and investments to be enough to fund operations until around the second quarter of 2018. A total of 10 funds from our database were long Revance Therapeutics Inc (NASDAQ:RVNC) at the end of the first quarter, according to the latest round of 13F filings.

Follow Revance Therapeutics Inc. (NASDAQ:RVNC)
Trade (NASDAQ:RVNC) Now!

On the next page, we will take a closer look at Microsoft Corporation, LinkedIn Corp, and Amazon.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!