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.

Stocks Not Having A Good Day: Catalent, Alexion Pharmaceuticals, DryShips, More

Page 1 of 2

U.S stocks have edged higher on Tuesday following a rise in oil prices and Fed Chairwoman Janet Yellen’s speech on Monday, in which she maintained an optimistic tone about the overall economic situation, despite the recent jobs report. However, several stocks are losing ground today, including Catalent Inc (NYSE:CTLT), Endo International plc – Ordinary Shares (NASDAQ:ENDP), DryShips Inc. (NASDAQ:DRYS), Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN), and Michaels Companies Inc (NASDAQ:MIK). In this article, we will unravel the reasons behind these losses and analyze hedge fund sentiment towards each of these companies.

At Insider Monkey, we track around 765 hedge funds and institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on, can help retail investors generate double digits of alpha per year. The key is to focus on the small-cap picks of these funds, which are usually less followed by the broader market and allow for larger price inefficiencies (see the details here).

Catalent Announces Secondary Public Offering of Common Stock

Catalent Inc (NYSE:CTLT) is down by more than 7% today after the company announced the launch of a secondary public offering of its common stock. In a statement, the New Jersey-based drug delivery technology provider said that certain selling stockholders are offering to sell 10 million shares of the company’s common stock. Catalent will not receive any of the proceeds generated by this transaction. Only eight out of 766 active hedge funds in our database were long Catalent Inc (NYSE:CTLT) as of the end of the first quarter. Dennis Purcell’s Aisling Capital owns 715,673 shares of the company as of March 31.

Follow Catalent Inc. (NYSE:CTLT)
Trade (NYSE:CTLT) Now!
stock, graph, low, crash, down, arrow, risk, fall, crack, price, bad, market, debt, statistics, sales, economy, decline, failure, red, loss, business, concept, diagram, rates,

Onypix/Shutterstock.com

Law Firms Open Investigation Against Endo International plc

Endo International plc – Ordinary Shares (NASDAQ:ENDP) has declined by more than 5% today after Hagens Berman, an investor-rights law firm headquartered in Seattle, Washington, announced that it has opened an investigation into the company and invited shareholders who acquired the shares of the company between March 2, 2015 and May 6, 2016 to request appointment as lead plaintiffs. On Monday, Lundin Law PC also said it was opening an investigation against Endo International concerning possible violations of federal securities laws. The investigation is based on allegations that some of the Pennsylvania-based healthcare company’s financial statements were false and misleading.

As of the end of March, 49 hedge funds in our system were bullish on Endo International plc – Ordinary Shares (NASDAQ:ENDP), with the total value of their positions in the company standing at approximately $1.3 billion.

Follow Endo International Plc (NASDAQ:ENDP)
Trade (NASDAQ:ENDP) Now!

Move to the next page to see why DryShips, Alexion and Michaels Companies are trading deep in the red today.

Page 1 of 2
Loading Comments...