What is Happening to These 4 Falling Stocks?

As previously mentioned, it’s been a tough quarter for natural gas producers as the price of natural gas in the U.S keeps falling. After breaching the key $2 per thousand cubic feet level on Friday, the price of the front-month natural gas contract at Henry Hub is now $1.88 per mcf. As one of the largest independent natural gas producers in the U.S, Range Resources Corp. (NYSE:RRC) shares are off by over 57% year-to-date and down by 5.62% today because of the negative price action. Bullish investors in Range Resources Corp. (NYSE:RRC) hope that the U.S will begin exporting more of its excess natural gas overseas in a move that will narrow the gap between domestic natural gas prices and international prices. If Congress lifts the crude export ban, the government is more likely to approve more LNG export terminals.

Wrapping up our list of red stocks is Atara Biotherapeutics Inc (NASDAQ:ATRA). Shares of the biotech company are off by nearly 25% after the company announced PINTA 745, its product candidate for the treatment of PEW in patients with end stage renal disease (ESRD) failed to achieve the primary efficacy endpoint. Because of the results, Atara will suspend further R&D on the product candidate. 11 elite funds in our database owned $293.74 million worth of Atara Biotherapeutics Inc (NASDAQ:ATRA) shares on September 30, versus nine elite funds with a collective stake worth $423.95 million on June 30.

Disclosure: None