Daniel Gold’s QVT Financial sold 650 thousand shares in Anadys Pharmaceuticals Inc. (ANDS) on October 17th. According to the firm’s Form 4 and amend 13D on October 19th. QVT Financial made a single insider sale of 650 thousand shares, or 1.13% stake at $3.68. Now the firm retains 10.77 million shares in ANDS, corresponding to an 18.84% activist stake. Since QVT Financial reported 11.42 million shares, or 19.97% stake in ANDS in its last 13F filing, this is the firm’s only transaction in ANDS after the second quarter. ANDS had an even path for several months. It suddenly crushed the market on October 17th because ANDS agreed a $230 million buyout offer from Roche. As a result, ANDS skyrocketed by 250% and is now trading at $3.68.
Six hedge funds revealed their positions in ANDS in the second quarter. Beside QVT Financial’s 11.42 million shares position, Samuel Isaly’s Orbimed Advisors reported 5.30 million shares, giving a 9.27% stake. Phill Gross And Robert Atchinson’s Adage Capital Management had 3.27 million shares, corresponding to a 5.72% stake ownership.
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.
Anadys Pharmaceuticals, Inc. is a biopharmaceutical company engaged in developing medicines for the treatment of hepatitis C. The Company is developing ANA598 and ANA773, which are used in Phase I and II trial in hepatitis C. In June 2009, the Company initiated a strategic restructuring to focus its operations on the development of ANA598. The company was formerly known as Scriptgen Pharmaceuticals, Inc.before May 2000. The company was founded in 1992 and is headquartered in San Diego, California.