OncoSec an AACR Winner
Shares of OncoSec Medical Inc (NASDAQ:ONCS) are trading up by more than 14.1% on Wednesday afternoon, propelled by the company’s presentation at the AACR Annual Meeting, which showed positive follow-up data from patients who were treated with the company’s investigational therapy ImmunoPulse™ IL-12, and then went on to receive anti-PD-1/PD-L1 therapy. “We are encouraged by the data from this analysis, which show that intratumoral IL-12 DNA with electroporation can prime the immune system and help improve patient response to anti-PD-1,” said Dr. Algazi, skin cancer specialist in the Melanoma Center at the UCSF Helen Diller Family Comprehensive Cancer Center.
As with most nano-caps, OncoSec Medical Inc (NASDAQ:ONCS) does not count much hedge fund support. Only two funds in our database were long the stock at the end of 2015. The largest stake was held by Wayne Holman’s Ridgeback Capital Management and consisted of 1.29 million shares of the company.
EMC Takeover Still on Track Despite Disappointing Results
Another gainer on Wednesday is EMC Corporation (NYSE:EMC), which has gained more than 3% since the bell rang this morning, even though the company’s first quarter EPS of $0.31 and revenue of $5.5 billion missed the Street’s expectations by $0.02 and $140 million, respectively. So, what is driving the stock up? Well, it’s all about the Dell deal. The company agreed last year to be acquired and taken private by Dell Inc. for roughly $67 billion and EMC CEO Joe Tucci assured today that the merger is still on track, and should be completed by October.
77 funds among those we track were long EMC Corporation (NYSE:EMC) at the end of the fourth quarter, with their combined positions accounting for almost 14% of its outstanding stock. A noteworthy position was that of Jonathan Lourie and Stuart Fiertz’s Cheyne Capital, which held 1.32 million shares of the company worth roughly $35 million as of December 31.
MGM’s REIT Goes Public In Largest IPO In 2016
Finally, there’s MGM Growth Properties LLC (NYSE:MGP), which is up by about 6.1% this afternoon, on its first day of trading. The REIT raised $1.05 billion in its initial public offering, selling 50 million shares for $21.00 each, with the IPO being priced at the high end of its projected range. It was the first IPO by a U.S-listed company to raise more than $1 billion this year, Dealogic reported.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned in this article.