Allos Therapeutics (ALTH): Jean-Marie Eveillard bought into Allos in the 3rd quarter last year. Since then, the stock price has dropped 31%. Shares have headed downward over the last month specifically as the company focuses on its lead drug, Folotyn. Allos is a biopharma focused on anti-cancer drugs. Folotyn is currently used on patients who with T-cell lymphoma who don’t positively react to other drugs. They’re developing its use for recurrent tumors, and recently laid off 13% of their workforce in order to focus exclusively on Folotyn.
China Automotive Systems (CAAS): Mario Gabelli and Ron Baron own shares in CAAS, although they haven’t made any trades since the 1st quarter of 2010 when Baron sold 30% of his shares. Since then, the stock is down 35%. CAAS is a Chinese parts manufacturer specifically focusing on steering systems. Taking a cursory look, it appears shares are cheap and business, but as we saw with China Media Express (CCME), investors should look very closely and not trust the filings.
Jaguar Mining (JAG): George Soros owns 1% of Jaguar Mining and added shares in the 1st, 2nd, and 3rd quarters last year. Shares have been pushed down because of a recent $90 million convertible note issuance and a poor 2011 forecast. JAG is a gold miner who owns mines in Brazil.
Talbots (TLB): George Soros also owns shares in Talbots, first picking them up in the 2nd quarter last year. Since then, shares have gone down 64%. Unfortunately for Soros, most of management was selling shares in the 4th quarter last year at prices that are double what they are today. Talbot has dropped most recently because they failed to come close to hitting their own guidance and they also lowered their 2011 EPS guidance by 25%. Management has a serious credibility problem.
USA Truck (USAK): 9% of USA Truck is owned by Donald Smith. Most of his purchases were in 2007 and 2008. They operate as a truckload carrier and haul mostly commodities in the U.S., Canada, and Mexico. They’ve had a rough nine months, but about a week ago reported improving fundamentals, although they’re still showing a loss. Revenue increased considerably, but they have to worry about rising fuel costs as tensions in the Middle East and commodity inflation continues.
Disclosure: No positions
For the complete list of 52-low stocks, go to this link.