Daily Wrap: The Biggest Hedge Fund Moves of the Day

OZ Management All Over The Nutanix IPO

Billionaire Daniel S. Och‘s OZ Capital Management initiated a position in Nutanix Inc. (NASDAQ:NTNX), as reported in a 13G filing yesterday. The fund has acquired 1 million Class A shares of the company, which amass 5.85% of Nutanix’s outstanding stock. Nutanix Inc. (NASDAQ:NTNX) is a software company that offers an enterprise cloud platform, which converges computing, virtualization and storage into one solution. The company went public on September 29 at $16 per share and has more than doubled in value since then, continuing the trend of IPOs shooting impressively out of the starting gate this year. Maxim Group initiated coverage of Nutanix Inc. (NASDAQ:NTNX) on September 30 with a ‘Buy’ rating and $40 price target, which shares nearly reached within their first trading session despite the extremely bullish call. There are no other known shareholders of Nutanix among the funds that we track as of this time.

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D E Shaw Trims Exact Sciences Stake

A separate 13G filing showed that D E Shaw, founded by billionaire David E. Shaw, has slightly lowered its stake in Exact Sciences Corp (NASDAQ:EXAS), as it now holds 5.41 million common shares of the company, which account for 5% of its float. The current stake has been lowered from 5.44 million shares of Exact Sciences Corp (NASDAQ:EXAS) owned on August 15, which represented 5% of the company’s outstanding stock, as reported in the fund’s previous 13G filing on the company. Shares of the molecular diagnostics company, which has a focus on the early detection and prevention of various types of cancer, were held by 16 of the hedge funds in our database at the end of June, including Steve Cohen’s Point72 Asset Management, Charles Paquelet’s Skylands Capital, and Ken Griffin’s Citadel Investment Group.

Great Point Partners Snatches Up 2.5 Million Foamix Shares

Jeffrey Jay and David Kroin‘s Great Point Partners filed a Form 13G yesterday in which it reported a significant increase to its stake in Foamix Pharmaceuticals Ltd. (NASDAQ:FOMX). The fund’s position now consists of 2.77 million common shares of the company, which amass 7.57% of its outstanding stock. The fund held just 274,756 Foamix shares on June 30, as per its latest 13F filing. Foamix Pharmaceuticals Ltd. (NASDAQ:FOMX) is a clinical-stage pharmaceutical company that mainly works on producing minocycline foam for various skin problems. Recently, the company disclosed positive results from a phase 2 trial evaluating FMX-103 Topical Minocycline Foam for papulopustular rosacea. Over the past 12 months, the company’s stock has gained 34.5%. 17 hedge funds in our database were long Foamix Pharmaceuticals (NASDAQ:FOMX) at the end of June, up by five from the end of March.

We’ll check out two other filings on the next page, including a big move made by Stephen Mandel’s Lone Pine Capital.