Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Tidewater, Inovio, Ariad, and More: What is Going on With These Falling Stocks?

Although the broader markets are in the green today as a wave of M&A activity and a number of solid earnings reports have improved market sentiment, several stocks are not on the receiving end of that sentiment today.

In this article, we’ll analyze why traders are selling Tidewater Inc. (NYSE:TDW), Inovio Pharmaceuticals Inc (NASDAQ:INO), Genworth Financial Inc (NYSE:GNW), Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA), and Syngenta AG (ADR) (NYSE:SYT) today, and check in with the smart money to determine how they have been trading these equities.

Our research determined that following the small-cap stocks that hedge funds are collectively bullish on can help a smaller investor to beat the S&P 500 by around 95 basis points per month (see the details).

Biotech Biochemical Stocks 3
Tidewater Inc. (NYSE:TDW) has plunged by 43% after it disclosed the following in a PR statement concerning its discussions with principal lenders and note-holders in regards to amending its debt arrangements to obtain relief from certain covenants:

“While the company will continue to work toward amendments to its various debt arrangements that will be acceptable to all parties, there is a possibility that the lenders, noteholders and the company will not be able to negotiate new debt terms that are acceptable to all parties, in which case the company will have to consider other options, including a possible reorganization under Chapter 11 of the federal bankruptcy laws.”

In addition, the company also reported that it received extensions for limited waivers from certain covenants until November 11, 2016. Jim Simons‘ Renaissance Technologies cut its stake in Tidewater Inc. (NYSE:TDW) by 18% in the second quarter to 1.57 million shares at the end of June.

Follow Tidewater Inc (NYSE:TDW)
Trade (NYSE:TDW) Now!

Inovio Pharmaceuticals Inc (NASDAQ:INO) shares are down by almost 14% after the company announced that the FDA has placed a clinical hold on its Phase 3 clinical trial for VGX-3100. In the FDA’s initial communication, the agency requested additional information to support the shelf-life of the disposable parts of the CELLECTRA 5PSP immunotherapy delivery device. Inovio is working to address the FDA’s concerns and anticipates that the requested data will be available before the end of 2016. The company also now estimates that the start of the phase III clinical program will be delayed until the first-half of 2017, pending resolution of the FDA’s requests. Of the 749 hedge funds that we track which filed 13Fs for the June quarter, eight funds owned $2.15 million worth of Inovio Pharmaceuticals Inc (NASDAQ:INO) shares on June 30, compared to six funds with $4.66 million worth of Inovio holdings on March 31.

Follow Inovio Pharmaceuticals Inc. (NASDAQ:INO)
Trade (NASDAQ:INO) Now!

On the next page we’ll see why traders are selling Genworth Financial, Ariad Pharmaceuticals, and Syngenta.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.