Top 5 Losers on Wednesday

4. Baudax Bio, Inc. (NASDAQ:BXRX) has crashed 29% as of 1:51 PM ET after the company announced a registered direct offering of $2 million. The pharmaceutical company shared that it had finalized an agreement with institutional investors for the sale of 1,646,091 shares of Baudax Bio, Inc.’s (NASDAQ:BXRX) common stock. The shares would be offered at a purchase price of $1.215 per share.

Overall, 4 hedge funds held a stake in Baudax Bio, Inc. (NASDAQ:BXRX) at the end of Q4 2021. Alyeska Investment Group was the leading hedge fund investor in Baudax Bio, Inc. (NASDAQ:BXRX) during Q1 2022.