Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Daniel Gold’s QVT Financial Raised Stake In $OREX

Daniel Gold’s QVT Financial discloses that it now has 5.29 million shares in Orexigen Therapeutics, Inc. (OREX), corresponding to a 9.82% passive stake. According to the firm’s filing today, QVT Financial probably paid more than OREX’s current price to obtain the shares. The firm initiated its OREX position in the third quarter and reported 1.76 million shares at the end of September, so now its position is tripled. OREX currently trades at $1.63, losing 80% so far in 2011.

Orexigen Therapeutics, Inc. (NASDAQ:OREX)

There are other hedge funds that also invested in the stock. Jim Simons’ Renaissance Technologies remained 787 thousand shares in its position at the end of September, after a 36% decrease. David E. Shaw’s D. E. Shaw boosted its position by 32% and reported 191 thousand shares in the third quarter.

According to Bloomberg Businessweek, QVT Financial is a privately owned hedge fund sponsor, providing its services to pooled investment vehicles. The firm mainly invests in the public equity and debt markets worldwide. It also invests in alternative investment markets. It uses structured finance, private placements, high yield and distressed debt to create its portfolios. The firm had a portfolio value of more than $1.5 billion as of June 2011.

According to Google Finance, Orexigen Therapeutics, Inc. “is a biopharmaceutical company focused on the development of pharmaceutical product candidates for the treatment of obesity. The company is developing its product candidates for markets served by primary care physicians. In September 2010, it entered into a collaboration agreement with Takeda to develop and commercialize Contrave in the United States, Canada and Mexico.”

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!