John Paulson Picks ANV, THM Tumble

John Paulson Picks ANV, THM Tumble

Fate Therapeutics Inc. (NASDAQ:FATE), Seventy Seven Energy Inc. (NYSE:SSE) and Penn Virginia Corporation (NYSE:PVA) are nearing market close in the green this Friday. In the red are Allied Nevada Gold Corporation (NYSEMKT:ANV), International Tower Hill Mines Ltd. (NYSEMKT:THM) and Cyclacel Pharmaceuticals Inc. (NASDAQ:CYCC).

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Fate Therapeutics Soars on Study Data

Fate Therapeutics Inc. surged +42.43% in the wake of the announcement of interim data from one of its studies. Thomas Steyer’s Farallon Capital picked up a stake in the company during the fourth quarter of 2013 and has been gradually reducing it since. As of the third quarter of this year, the fund maintains 171,000 FATE shares.


Seventy Seven Energy climbed +18.58% today, putting its five-day gain at +55%. The Chesapeake Energy spinoff has performed poorly on Wall Street since going public in June, though recent rebounds indicate promise. Today, Capital One Financial initiated coverage of the stock, issuing an equal weight rating and $6.00 price target. As of his most recent 13F filing, Carl Icahn disclosed a position in the firm.

Penn Virginia Corporation gained +12.89% today. Yesterday, the company declared a cash dividend of $150.00 per share, the same day it was downgraded by Wells Fargo & Co. from to market perform. The oil and gas company has been in billionaire George Soros’ portfolio since the second quarter of 2013. It has declined -34.15% YTD.

Allied Nevada Gold Dips Again

Allied Nevada Gold Corp. tumbled -7.14%, putting its one-month loss at -36.21% and YTD performance at -73.23%. John Paulson is a long-time ANV shareholder and as of Q3 holds 1.5 million shares. George Soros has had a stake in the firm since Q2.

Another Paulson pick – International Tower Hill Mines – is ending the week on a sour note as well, its price declining -7.14%. The firm announced a management shakeup on Thursday, revealing the exit of its CFO. THM is down -17.39% YTD.

Cyclacel Pharmaceuticals Inc. dipped -5.54%, continuing to decline after news broke earlier in the week that its lead drug is likely to fail a trial. Wilbur Ross has had a stake in the firm across several quarters.


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