Monday Gainers: What Pushed Higher These Five Stocks on Monday

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Also on the rise on Monday was GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH), which gained more than 130% after the company announced that its Orphan Drug- and Fast Track-tagged Epidiolex (cannabidiol) had retrieved positive results in a Phase 3 clinical trial for the treatment of Dravet syndrome, a rare and yet untreated form of childhood epilepsy. According to the results cited by the British company, the drug considerably reduced seizures in the treated children.

Among the funds that we track, 18 were long GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) at the end of December. One firm that seemed particularly bullish on the cannabinoid medicines company was Anders Hove and Bong Koh’s VHCP Management. Its stake, comprising 311,853 shares, was the third-largest in terms of value at the end of 2015.

Another double digit gainer on Monday was 3D Systems Corporation (NYSE:DDD), whose shares have gained 28%, following the announcement of the company’s fourth quarter financial results. Earlier today, the 3D printing company posted earnings of $0.19 per share on revenue of $183.36 million, comfortably beating the Street’s consensus estimates of $0.08 and $182.88 million, respectively. The company’s interim CEO, Andrew Johnson, explained that, “while market conditions remain challenging and uncertain, timing of healthcare and industrial customer orders as well as contributions from acquisitions supported revenue during the quarter.”

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One firm that is likely pleased with the results is Philippe Laffont’s Coatue Management. The fund last declared holding 2.93 million shares of 3D Systems Corporation (NYSE:DDD), valued at more than $25.5 million as of December 31. On top of Coatue, another 14 funds in our database were long the stock by the end of the fourth quarter; their combined stakes accounted for 6.2% of the company’s outstanding stock.

Finally, there’s Chemours Co (NYSE:CC), whose stock has advanced by 7%, after Goldman Sachs upgraded its rating on the stock to ‘Buy’ from Neutral, while raising the price target to $10.00 from $6.00. Among the reasons behind the upgrade, analyst Robert Koort pointed out cost control and asset optimization initiatives, and cyclical upside as the TiO2 market bottoms.

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During the last year, Chemours Co (NYSE:CC)’s stock lost 74.29%, but it has appreciated by 30% since the beginning of 2016. One fund that seems to have made a substantial profit from this rebound is Thomas E. Claugus’ GMT Capital, which disclosed ownership of 8.41 million shares, worth more than $45 million, as of December 31. The firm boosted its stake by 76% during the fourth quarter.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

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