Ariad Pharmaceuticals, Inc. (ARIA): Healthcare-focused Sarissa Capital Inches Up Its Stake to 6.87%

As a new filing with the Securities and Exchange Commission showed, Sarissa Capital Management, a fund led by Alex Denner, has picked up its position in Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) to 12.85 million shares, from 12.0 million disclosed previously. Following the increase, Sarissa’s activist position ammounts to 6.87% of the company’s outstanding common stock. The total value of the holding amounts to $79.93 million at the current price of the stock.

Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) is a $1.14 billion biopharmaceuticals company engaged in research, development and commercialization of drugs for the cancer patients. The company’s stock has not performed well, dropping significantly in the last quarter of 2013, and currently trading 65% down over the past 52-weeks. Ariad Pharmaceuticals reported a net loss of $56.9 million, equal to $0.30 per share for the second quarter of the year, narrowing it from $69 million, or $0.37 per share posted for the same period of last year.

Alex Denner Sarissa Capital

In addition, Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) stated that it is collaborating with the U.S. Food and Drug Administration and the European Medicines Agency to complete its randomized trial on its Iclusig drug. The company plans to reach an agreement and sign a protocol by the end of this year.

While Sarissa is the largest shareholder of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) among the funds we track, several other investors also own significant positions in the company and seem to be bullish on it. Jim Simons‘ Renaissance Technologies has almost doubled his stake during the second quarter and reported holding 4.40 million shares in its latest 13F filing. Cliff Asness‘ AQR Capital Management has boosted its stake by over 300% to 3.88 million shares during the same period.

Sarissa Capital is a healthcare-focused hedge fund with an equity portfolio of around $294 million, where Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) represents the largest position in terms of value. Aside from that, the fund owns 2.0 million shares of Idenix Pharmaceuticals Inc (NASDAQ:IDIX) and 775,000 shares of Quest Diagnostics Inc (NYSE:DGX), which represent the second and third positions in terms of value respectively.

Disclosure: none

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!