Hedge Funds Have This To Say About Tuesday’s Healthcare Flops

Also similar to Merrimack Pharmaceuticals, hedge funds were positive on Inovio Pharmaceuticals Inc (NASDAQ:INO) in the second quarter. There were seven hedge funds with long positions in the stock at the end of said period, down by two from one quarter earlier, but their holdings increased by over 134% to $11.24 million, despite a decline in the stock of 5.67% during that time. Hal Mintz’s Sabby Capital owned 906,000 shares of Inovio by the end of June, a position acquired during the quarter.

Another stock which seemingly cannot leave behind the healthcare rout from last week is Second Sight Medical Products Inc (NASDAQ:EYES), which is down by over 11% today. Over the course of last week, Second Sight lost even more of its share price than Merrimack Pharmaceuticals and Inovio Pharmaceuticals, as the firm’s shares shed 25% of their value. On Monday, the stock was weighed down further by nearly 12%. The stock reached a price of $6.51 per share on Tuesday, a new 52-week low. At the end of June, three hedge funds from our database held $998 million in Second Sight Medical Products Inc (NASDAQ:EYES)’s shares. Harvest Capital Strategies, headed by Joseph A. Jolson, was the largest shareholder of Second Sight by the end of the second quarter, owning 45,000 shares, down by 11% from the end of the first quarter.

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