Although the Dow Jones is down by just 40 points and the S&P and NASDAQ are off by around half a percent each, shares of five stocks, Lantheus Holdings Inc (NASDAQ:LNTH), Aurinia Pharmaceuticals Inc (NASDAQ:AUPH), Whiting Petroleum Corp (NYSE:WLL), Oasis Petroleum Inc. (NYSE:OAS), and SM Energy Co (NYSE:SM), are deep in the red.
Let’s find out why traders are selling each stock and analyze how hedge funds were positioned among them using the latest 13F filings.
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Lantheus Holdings Inc (NASDAQ:LNTH) is 12% in the red after the company priced a 3 million spot secondary at $12.50 per share. Existing shareholders are the sellers in question and Lantheus itself will not receive any of the proceeds from the sale. Credit Suisse was the underwriter. The number of elite funds with holdings in Lantheus Holdings Inc (NASDAQ:LNTH) rose by 3 quarter-over-quarter to 15 at the end of December. That’s out of the around 742 elite funds in our database.
Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) has fallen by 22% after the company announced the public offering of common shares to be executed by Leerink Partners and Cantor Fitzgerald. According to The Street’s Adam Feuerstein, the company sold 22.3 million shares at around $6.75 a piece, raising $150 million to finance the company’s R&D of the potentially promising drug voclosporin (among other activities). No top funds that we track were long Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) at the end of Q4.
On the next page, we find out why Whiting Petroleum Corp, Oasis Petroleum Inc, and SM Energy Co are deep in the red today.