Deerfield Ups Stake In Trivascular Technologies Inc (TRIV)

Deerfield Management, managed by James E. Flynn, has revealed raising its position in Trivascular Technologies Inc (NASDAQ:TRIV). According to a new filing with the Securities and Exchange Commission, Deerfield now owns around 1.70 million shares of the company, up from 632,700 shares the fund disclosed last week. The stake is passive by nature and represents 8.38% of common stock. Deerfield has purchased around1.07 million shares of the company at an average price of $12.00 apiece.

Trivascular

California-based Trivascular Technologies Inc (NASDAQ:TRIV) is a medical device company developing and commercializing innovative technologies to significantly advance minimally invasive treatment of abdominal aortic aneurysms. The company has a market cap of $259.4 million and its stock trades at $13.30.

Trivascular Technologies Inc (NASDAQ:TRIV) has recently closed its initial public offering of 7.48 million shares of common stock offered at a public offering price of $12.00 per share. The offering ALSO included 975,000 shares sold pursuant to the underwriter’s option to purchase additional shares.

Deerfield is a healthcare focused investment company that specializes in funding R&D, managing hostile takeovers, corporate transitions and financial advisory services, having $3.5 billion in assets. This month, Deerfield reported raising its stake in Insmed Incorporated (NASDAQ:INSM), holding 3.04 million shares of the company. At the beginning of April, the fund disclosed boosting its stake in Streamline Health Solutions Inc. (NASDAQ:STRM) to 1.14 million shares from 325,000 shares reported earlier.

In addition, Deerfield initiated positions in several healthcare companies, including Cara Therapeutics Inc. (NASDAQ:CARA), in which the fund disclosed ownership of 350,000 shares. The fund also increased their stake Alphatec Holdings Inc (NASDAQ:ATEC) to 14.2 million shares. In March, Deerfield reported upping its stake in OvaScience Inc (NASDAQ:OVAS) to 1.8 million shares from 605,600 shares held at the end of the fourth quarter of 2013.

Disclosure: none

Recommended Reading:

Hedge Fund Investor Letters

Whitebox Advisors Cuts Its Stake In Dune Energy Inc (DUNR)

Was Kerrisdale Capital’s Bet on JGWPT Holdings Inc (JGW) a Mistake?

Greenlight Capital 2014 Q1 Investor Letter

Biotech Insider Alert - $5 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.
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!