Markets are off to a bullish start this week following a rise in oil prices and fading chances of a Brexit. Investors are also keeping an eye on Federal Reserve Chairwoman’s statement in front of the U.S. Senate Committee on Banking, Housing and Urban affairs scheduled on Tuesday.
Some stocks are on the radar of investors today, including Apple Inc. (NASDAQ:AAPL), Fate Therapeutics Inc (NASDAQ:FATE), DexCom, Inc. (NASDAQ:DXCM), Toyota Motor Corp (ADR) (NYSE:TM), and Yelp Inc (NYSE:YELP). Let’s see why these stocks are in the spotlight on Monday and take a look at the hedge fund sentiment towards them.
Apple Will Not Support GOP Convention Because of Donald Trump
Apple Inc. (NASDAQ:AAPL) has declined to provide funding or support to the Republican Party for its 2016 presidential convention, citing presumptive nominee of the Party, Donald Trump’s controversial comments about women, his stance on immigrants and minorities, Politico reported on Saturday, citing two sources familiar with the matter. However, the reported added that big tech companies like Facebook, Google and Microsoft are going to provide support for the GOP event which is scheduled to take place in July. Apple communicated its decision “privately” to the Republican Party. As of the end of first quarter, 152 hedge funds in our system are long Apple Inc. (NASDAQ:AAPL), owning approximately $14.8 billion worth of shares. Billionaire Ken Fisher’s Fisher Asset Management has the biggest stake among those investors, with ownership of more than 11 million shares.
Fate Therapeutics’ Drug Gets Fast Track Status
Fate Therapeutics Inc (NASDAQ:FATE)’s has surged by over 20% after the company said the U.S. Food and Drug Administration (FDA) has granted Fast Track status to ProTmune, its drug for the reduction of the incidence and severity of acute graft-versus-host disease (GvHD). The San Diego, California based biopharmaceutical company also announced that Phase 1/2 clinical trial of ProTmune in adult subjects with hematologic malignancies is open for patient enrollment. In a statement, Chris Storgard, M.D., Chief Medical Officer of Fate Therapeutics, said that the company is looking forward to work with FDA to “rapidly advance” its innovative immunotherapy through the clinical development and regulatory processes.
Only five out of nearly 766 funds tracked by Insider Monkey had stakes in Fate Therapeutics Inc (NASDAQ:FATE) as of the end of the first quarter. Mark Kingdon’s Kingdon Capital owns around 2.25 million shares of the company.
On the next page, we will see why DexCom, Toyota Motor Corp, and Yelp are making moves today.