James Flynn, Deerfield Management Step Up Interest In Alphatec Holdings Inc (ATEC)

James E. Flynn, the manager of Deerfield Management, is bullish on Alphatec Holdings Inc (NASDAQ:ATEC). According to a recent filing with the Securities and Exchange Commission, Deerfield and Flynn have increased their stake in the company to 14.2 million shares, 3.98 million of which are shares and the rest are warrants to purchase 10.25 million shares of common stock. In aggregate, this position accounts for 9.98% of the total number of shares outstanding.

Ken Griffin is also very optimistic about the prospects of Alphatec Holdings Inc (NASDAQ:ATEC), having increased his fund’s stake by 556% during the previous quarter. Citadel Investment Group reported the ownership of approximately 35,100 shares valued at $70,000. Jim Simmons has, on the other hand, decided to reduce his fund’s exposure to this stock by 34%. As a result, Renaissance Technologies is left with 58,300 shares reportedly worth $117,000.

Alphatec Holdings Inc (NASDAQ:ATEC)

Alphatec Holdings Inc (NASDAQ:ATEC) engages in the production of products for surgical treatment of spine disorders. The company has a market cap of $146 million and does not pay a dividend. The stock has been trending sideways for a couple of years already and has fallen 25% so far in 2014 to a current price of $1.5 per share. For the three months ending December 31, 2013, Alphatec posted revenues of $53 million and a loss per share of $0.28, a significant widening from the loss of $0.06 reported for the same period of 2012. Analysts expect the company to register revenues of $51 million, for the current quarter, and a loss per share of $0.03. The stock is mainly touted as a Buy and Strong Buy.

Flynn is a big fan of healthcare companies, which occupy a significant chunk of its equity portfolio. During the fourth quarter of 2013, Deerfield Management has increased its holding of Auxilium Pharmaceuticals, Inc.(NASDAQ:AUXL) by 65% to 4.11 million shares valued at $85.2 million. Flynn has also massively increased his investment in Questcor Pharmaceuticals Inc (NASDAQ:QCOR) – up 544% to 1.5 million shares reportedly worth in excess of $82 million.

Disclosure: none.

Recommended reading:

Deerfield Management Boosts Its Stake in OvaScience Inc (OVAS)

Deerfield Management Further Raises Its Position in Auspex Pharmaceuticals Inc (ASPX)

Deerfield Management Adds Cara Therapeutics Inc. (CARA) To Its Equity Portfolio

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

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

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 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

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!