Many leading funds, including Fidelity, T Rowe Price, PRIMECAP, and healthcare-focused Orbimed Advisors, filed forms 13-D and 13-G with the SEC over the last month, indicating that they had amended their ownership in U.S. exchange traded biotech companies. The following summarizes one noteworthy buy and five noteworthy sells in the biotech group. Also, for more info on Forms 13-D and 13-G, and how to interpret them, please refer to our instablog discussion on institutional trades:
Anthera Pharmaceuticals (ANTH): ANTH is a development-stage biotech company focused on the development of therapeutics for the treatment of inflammation-related diseases, including cardiovascular diseases, and autoimmune diseases such as lupus. Last week, on July 9th, mutual fund powerhouse Fidelity Investments, with $555 billion in 13-F assets, filed SEC Form SC 13G/A indicating that it holds 1.74 million or 4.2% of outstanding shares, a decrease from the 6.11 million shares it reported holding at the end of Q1. Also, at the end of last month, the world's largest healthcare investment firm Orbimed Advisors, with $5 billion in assets under management, filed SEC Form SC 13D/A indicating that it holds 1.33 million or 3.1% of outstanding shares, an increase from the 1.28 million shares it reported holding at the end of Q1.
ANTH shares leapt up 87.2% today, among the top gainers for the day, after a harrowing year in which shares lost over 90%. The rally today was in response to the company's pre-market-open announcement today that the results from the final set of clinical data from the Phase 2b PEARL-SC study of blisibimod in patients with systemic lupus erythematosus (SLE) were positive. Specifically, in the predefined population of patients with severe disease who were also taking corticosteroids, blisibimod achieved 41.7% response versus 17.0% for placebo at the end of 24 weeks, with improvement in other clinical endpoints as well.
In addition to ANTH, institutions also indicated via their 13D/G filings in the last month that they amended their ownership in the following four biotech companies:
- Pharmacyclics Inc. (PCYC), a development stage biotech company that is focused on discovering and developing innovative small-molecule drugs for the treatment of cancer and immune mediated diseases, in which Pasadena, CA-based mega fund PRIMECAP Management Co., with $67.2 billion in 13-F assets filed SEC Form SC 13G/A indicating that it holds 3.17 million or 4.6% of outstanding shares, a decrease from the 3.94 million shares that it held at the end of Q1.
- Human Genome Sciences (HGSI), currently the subject of a hostile take-over attempt by U.K. pharmaceutical giant GlaxoSmithKline (GSK), develops gene-based protein and antibody drugs to treat such diseases as hepatitis C, lupus, anthrax, cancer, rheumatoid arthritis and HIV/AIDS, in which mega fund T Rowe Price Associates, with $520 billion in assets under management, filed SEC Form SC 13G/A indicating that it holds 15.20 million or 7.6% of outstanding shares, a decrease from the 29.02 million shares that it held at the end of Q1. HGSI indicated earlier yesterday that it had entered into a definitive agreement to be acquired by GlaxoSmithKline , after GSK sweetened the offer to $14.25 per share in cash, putting the deal price at almost twice the $7.18 close prior to deal becoming public on April 18th.
- Synageva BioPharma Corp. (GEVA), that is a clinical-stage biotech developing treatments for patients with rare diseases and an unmet medical need, in which leading healthcare technology venture capital firm New Leaf Venture Partners, managing approximately $1 billion in funds, filed SEC Form SC 13D/A indicating that it holds 1.04 million or 4.9% of outstanding shares, a decrease from the 1.37 million shares that it reported holding in a prior SC 13D/A filing on March 19th this year.
- Dendreon Corp. (DNDN), that develops targeted therapeutics to treat cancer using active immunotherapies, monoclonal antibodies and small molecules, in which PRIMECAP Management Co. filed SEC Form SC 13G/A indicating that it holds 6.23 million or 4.1% of outstanding shares, a decrease from the 8.72 million shares that it reported holding at the end of Q1.
Credit: Fundamental data in this article and company descriptions are based on SEC filings, Zacks Investment Research, Yahoo, Thomson Reuters and Briefing.com. The information and data is believed to be accurate, but no guarantees or representations are made.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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