Deerfield Management Reports New Stake in KaloBios Pharmaceuticals Inc (KBIO)

James E. Flynn‘s Deerfield Management has reported adding KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) to its equity portfolio. Deerfield currently holds around 3.18 million shares of the company, the passive stake amassing 9.64% of the common stock.

KaloBios Pharmaceuticals

KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) is a U.S.-based bio-therapeutic company, which is engaged in development of protein therapeutics. About a week ago, the company reported that its Phase 2 study of a monoclonal antibody for patients with severe asthma. The study was well tolerated but it didn’t meet its clinical endpoints. Amid the news, the stock of the company dropped by over 18% in the past several days, and overall, it lost almost 40% since the beginning of the year.

The analysts consider KaloBios Pharmaceuticals Inc (NASDAQ:KBIO)’s stock being “overweight” and set a target price of $9.00 per share, well above the current price of the stock. At the same time, the company has missed the estimates for its net income for the last several quarters.

Despite the poor performance of the company, investors seem to be bullish on KaloBios Pharmaceuticals Inc (NASDAQ:KBIO). In the previous round of 13F filings, several funds disclosed holding shares of KaloBios with many initiating their positions during the third quarter of 2013. Jean-Marie Eveillard‘s First Eagle Investment Management reported ownership of 875,000 shares, followed by Clough Capital Partners, led by Charles Clough, and Charles Davidson‘s Wexford Capital, with 400,000 and 278,500 shares respectively.

Deerfield reported the new stake added to its equity portfolio only a day after disclosing holding shares of Auspex Pharmaceuticals Inc (NASDAQ:ASPX), and Dicerna Pharmaceuticals Inc (NASDAQ:DRNA). Both companies went public recently and Deerfield reported holding significant amounts of shares in both of them.

Disclosure: none

Recommended Reading:

Hedge Fund Highlights: Warren Buffett, Bill Ackman & Richard Gerson

Becker Drapkin Ups Stake in Nano-Cap Special Diversified Opportunities Inc (SDOI)

Iroquois Capital Management Sends Letter to MGT Capital Investments Inc. (MGT) Board

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!