What You Need To Know About These 4 Sinking Stocks

Dana Holding Corporation (NYSE:DAN) has fallen by 3.86% in early afternoon trading today, its shares also the victim of weak quarterly results announced this morning. EPS of $0.41 was a stark $0.11 below estimates, while revenue of just under $1.47 billion was also more than $50 million short of expectations and down by 10.3% year-over-year. The provider of driveline and other technologies for the automotive industry was in the portfolios of 26 of the elite investors that we track, who held 14.10% of its common stock on June 30. Dana Holding Corporation (NYSE:DAN) was liked by mutual funds, with both Chuck Royce’s Royce & Associates and Mario Gabelli’s GAMCO Investors holding large positions in Dana Holding Corporation (NYSE:DAN) as of June 30.

Lastly is Relypsa Inc (NASDAQ:RLYP), whose shares have shed 18.72% of their value today. While the biopharmaceutical company’s Veltassa, for the treatment of hyperkalemia (excessive potassium levels), was approved for use by the FDA yesterday, it came with labeling restrictions that have put a damper on the market’s enthusiasm for its prospects. The FDA approval came with the caveat that the drug must contain a warning that it should only be taken six hours apart from any other oral medication, due to how it binds to other treatments. Morgan Stanley noted that the labeling parameters are likely to limit the demand for the treatment. Prior to the FDA announcement, Cowen and Co estimated that Veltassa could pull in as much as $1 billion in annual sales for Relypsa Inc (NASDAQ:RLYP). Healthcare fund Orbimed Advisors, led by Samuel Isaly, held the largest stake in Relypsa Inc (NASDAQ:RLYP) on June 30 among the investors that we track, totaling 7.40 million shares.

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