What is Going On With These Falling Stocks?

SINA Shares Drop on Negative China Sentiment

SINA Corp (NASDAQ:SINA) is 3% in the red as negative China sentiment weighs on the stock. Due to a decade of fast infrastructure-led growth, many of China’s sectors are plagued with overcapacity and bad debt. Some investors, such as George Soros, think that China could experience a hard landing similar to the one that the U.S experienced beginning in 2007. If that happens, SINA Corp (NASDAQ:SINA)’s prospects will likely miss medium-term expectations. Within our database of 786 elite funds, 17 of them owned 11.6% of SINA’s float at the end of the fourth quarter, up by two funds from the end of the prior quarter.

NV5 Global Declines Due to Secondary Offering

NV5 Global Inc (NASDAQ:NVEE) shares have retreated 9% after the company launched an underwritten public offering of 1.7 million shares priced at $26.25 per share. The offering is expected to deliver net proceeds of $41 million to NV5 Global, which the company plans to use for potential acquisitions and other general corporate purposes. The underwriter also has a 30-day option to acquire 255,000 more shares. NV5 Global Inc (NASDAQ:NVEE) was in the portfolios of seven elite hedge funds tracked by Insider Monkey at the end of December.

Tetraphase Retreats After the FDA Demands More Data

Tetraphase Pharmaceuticals Inc (NASDAQ:TTPH) has fallen by 18% today after the FDA notified the company that clinical data from an additional positive phase 3 trial will be needed to support an NDA submission for Tetraphase’s lead drug candidate, IV eravacycline. Because of the FDA’s response, Tetraphase plans to conduct another phase 3 trial that won’t be complete until the fourth quarter of 2017 or later. While the delayed timeline is disappointing, the company is confident in the efficacy of its treatment and believes that it could eventually provide a valuable option to patients. Of the 786 elite funds that we track, 13 of them owned $39.9 million worth of Tetraphase Pharmaceuticals Inc (NASDAQ:TTPH) and on December 31.

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