Alcobra Ltd (NASDAQ:ADHD) is 54% in the red after the FDA gave it a verbal notice that the company’s Investigational New Drug applications for MDX in ADHD and Fragile X Syndrome has been placed on full clinical hold due to adverse neurological findings in a pre-clinical study. MDX is the company’s lead product candidate. According to our records, the smart money was pretty overweight on Alcobra Ltd (NASDAQ:ADHD). On June 30, 15 funds tracked by Insider Monkey owned $64.61 million worth of Alcobra Ltd (NASDAQ:ADHD)’s stock, which accounted for over half the float.
Sonus Networks, Inc. (NASDAQ:SONS) shares are down by 9% after Cowen analyst Paul Silverstein downgraded the stock to ‘Underperform’ from ‘Market Perform’ and cut his target price to $4 per share from the previous $8. Silverstein cited industry checks that showed employee and management churn as well as operations challenges. The number of funds from our database with holdings in Sonus Networks, Inc. (NASDAQ:SONS) fell by eight quarter-over-quarter to 12 at the end of June.
Last but not least, McDonald’s Corporation (NYSE:MCD) is in the green after the restaurant chain raised its quarterly dividend by 5.6% to $0.94 per share from the previous $0.89 per share. At current prices, that translates to a yield of around 3.24%, or almost twice that of the 10-year bond. A total of 63 funds tracked by us were long McDonald’s Corporation (NYSE:MCD) at the end of the second quarter, down by 20 funds from the previous quarter.