Fraud Allegations Cause 21Vianet Group to Plunge

Fraud Allegations Cause 21Vianet Group to Plunge

Receptos Inc (NASDAQ:RCPT), Senomyx Inc. (NASDAQ:SNMX) and Flexion Therapeutics Inc (NASDAQ:FLXN) climbed on Wall Street this morning. Taking notable dives are 21Vianet Group Inc (NASDAQ:VNET), AngloGold Ashanti Limited (ADR) (NYSE:AU) and Inc (ADR) (NYSE:WUBA).

Receptos Gets a Boost on Data Report

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Receptos Inc (NASDAQ:RCPT) surged +17.17% today after releasing solid data from a mid-stage clinical trial of its multiple-sclerosis drug. The biopharmaceutical company, a Farallon Capital pick, is up an impressive +96.38% year-to-date and +29.95% over the past month.

The share price of Senomyx Inc. (NASDAQ:SNMX) climbed +9.51% early in the day, bringing the company’s one-month gain to +28.85%. In fact, the stock has increased +76.98% in 2014.


Flexion Therapeutics Inc (NASDAQ:FLXN) reached midday up +8.28% thanks to a price target bump from BMO Capital Markets from $33.00 to $36.00. Needham & Company analyst Eliot Wilbur raised his price target for the stock from $26.00 to $31.00 as well. The specialty pharmaceutical company is a George Soros holding and has climbed nearly +50% in the past three months.

21Vianet Group Plummets

Down -16.36% midday, 21Vianet Group Inc (NASDAQ:VNET) took a major hit today. The explanation: fraud allegations. The Chinese internet data services company is accused of fabricating SEC financial statement and conducting illegal activities in China. Farallon Capital has a stake in the firm, as does George Soros, and both parties are certainly keeping a close eye on this.

AngloGold Ashanti Limited (ADR) (NYSE:AU) plunged -15.91% after announcing to spin off its international assets. AngloGold is the world’s third-largest gold producer by volume and has been affected significantly by a drop in gold prices in recent years. Billionaire investors John Paulson and Ray Dalio have positions in AU, which despite today’s dip is up +10.84% YTD.

Taking the last spot on today’s list of losers is Tiger Global holding Inc (ADR) (NYSE:WUBA), which dipped -5.49%. WUBA has declined -20.26% over the past 30 days.


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