Becker Drapkin Management Reduce Stake In Response Genetics Inc (RGDX)

Response Genetics, Inc. (NASDAQ:RGDX) has been trimmed in the equity portfolio of Matthew Drapkin and Steven R. Becker. According to a recently amended filing with the Securities and Exchange Commission, their fund, Becker Drapkin Management, has decreased its holding of the stock from 2.2 million to 1.53 million shares, which account for approximately 4% of the total number of shares outstanding.

Response Genetics, Inc. (NASDAQ:RGDX) engages in the research and development of test for cancer. The company has a market cap of $44.9 million and does not pay a dividend. The stock has been trending sideways for some time now and is up 14% so far this year to a current price of $1.33 per share. Response Genetics has revealed revenues of $4.8 million, a 17% year-over-year increase, and a loss of $0.09 per share for the 2013 fourth quarter. Market participants expect the company to post revenues of $5.5 million and a loss per share of $0.05 for the current quarter.

Roberto Mignone has Response Genetics, Inc. (NASDAQ:RGDX) on his radar as his fund, Bridger Management, holds approximately 6 million shares valued at $6.96 million. Paul Ruddock and Steve Heinz are also keeping tabs with their fund, Lansdowne Partners, holding 3.8 million shares reportedly worth $4.41 million. Benjamin J Taylor, the manager of Sophrosyne Capital, has closed his fund’s position in this stock during the 2013 fourth quarter.

Another stock Drapkin and Becker have decided to limit exposure to is Pacer International, Inc. (NASDAQ:PACR). Becker Drapkin Management has dumped 2/3 of its holding of the stock and is left with approximately 746,800 shares or 1.8% of the company’s common stock. The fund has also dumped almost 90% of its stake in Pixelworks, Inc. (NASDAQ:PXLW) and is left holding 292,800 shares which account for 1.3% of the total number of shares outstanding.

Disclosure: none.

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