Short Sellers Were Right About These 5 Stocks

2. Cortexyme, Inc. (NASDAQ:CRTX)

Number of Hedge Fund Holders: 11 

Float Shorted: 42%

Decline in Share Price Over Past Six Months: 95%     

Cortexyme, Inc. (NASDAQ:CRTX) is a clinical-stage biopharma firm. On January 28, Canaccord analyst Sumant Kulkarni downgraded the stock to Hold from Buy and lowered the price target to $75 from $112, citing “uncertainty based on the clinical hold of its COR388 for mild to moderate Alzheimer’s disease” as the primary reason behind the bearish outlook. 

Elite hedge funds continue to back Cortexyme, Inc. (NASDAQ:CRTX). Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Millennium Management is a leading shareholder in Cortexyme, Inc. (NASDAQ:CRTX) with 566,681 shares worth more than $7.1 million.