Steven Cohen's hedge fund firm SAC Capital recently filed a 13G with the SEC regarding shares of Inspire Pharmaceuticals (NASDAQ:ISPH). According to the filing, SAC Capital now shows a 4.9% ownership stake in Inspire Pharma with 4,033,829 shares. This is a massive increase in its position as back on December 31st, 2009, it owned 3,932 shares of ISPH. Keep in mind, though, that SAC Capital is a trading oriented firm and as such moves in and out of positions much more swiftly than the hedgies we normally track here at Market Folly.
We've covered other recent activity out of Cohen's hedge fund such as its updated stake in The Talbots (NYSE:TLB) as well as its newly disclosed position in InterMune (NASDAQ:ITMN) and lastly its stake in Psychiatric Solutions (OTCPK:PSYS).
SAC Capital finished 2009 up over 28% as noted in our post on hedge fund 2009 performance numbers. Famed manager, Stevie Cohen, of course was recently featured in Forbes' billionaire list as well. Again, please remember that SAC is a trading oriented firm and typically has much shorter holding periods than the other hedge funds we track.
Taken from Google Finance:
Inspire Pharmaceuticals is a biopharmaceutical company focused on researching, developing and commercializing prescription pharmaceutical products for ophthalmic and pulmonary diseases.
For more on Steven Cohen, check out all our coverage on hedge fund SAC Capital.
Disclosure: No positions