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OrbiMed Advisors Buys Some More Ascendis Pharma (ASND) Shares

Published on June 26, 2016 at 1:59 pm by Insider Monkey Staff in Hedge Funds, News
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Samuel Isaly‘s OrbiMed Advisors has stepped up its interest in Ascendis Pharma A/S (NASDAQ:ASND) as reported in a recently-amended filing with the Securities and Exchange Commission. OrbiMed’s stake in the company has been increased to 3.3 million shares or 13.1% of the common stock, following the acquisition of 300,000 shares on June 17 at an average price of $13.75 apiece. Prior to that, the fund had bought more than 500,000 shares on June 15 and 16.

Ascendis Pharma A/S (NASDAQ:ASND) has a market cap of $345 million and does not pay a dividend. The stock started the year in a down trend, but it quickly recovered and was in green territory at the end of January. The rally did not continue, however, and shares are currently down by 24% for the year, having ended Tuesday’s trading session at $13.74 per unit. Ascendis Pharma swung to a loss for the first quarter of 2016, as revenues tumbled by 40% year-over-year to €1.3 million ($1.46 million). The company posted a net loss of €20.5 million ($23.1 million), or €0.82 ($0.92) per share.

Samuel Isaly Orbimed Advisors

At the end of the first quarter, roughly 27% of Ascendis Pharma A/S (NASDAQ:ASND) common stock was held by 10 of the funds followed by Insider Monkey, down from 11 registered a quarter before. Peter Kolchinsky‘s RA Capital Management is betting big on this stock, having amassed 2.16 million shares worth $40.1 million at the end of March. Baker Bros. Advisors’ manager, Julian Baker and Felix Baker are also keeping an eye on Ascendis Pharma as their fund held 505,521 shares at the end of March, unchanged over the course of the first quarter.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
OrbiMed Advisors 0 3,300,462 0 3,300,462 3,300,462 13.1%
OrbiMed Capital GP V 0 3,300,462 0 3,300,462 3,300,462 13.1%
Samuel D. Isaly 0 3,300,462 0 3,300,462 3,300,462 13.1%

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Page 1 of 12 – SEC Filing

  
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)
ASCENDIS PHARMA A/S
(Name of Issuer)
Ordinary Shares
(Title of Class of Securities)
04351P101
(CUSIP Number)
OrbiMed Advisors LLC
OrbiMed Capital GP V LLC
Samuel D. Isaly
601 Lexington Avenue, 54th Floor
New York, NY 10022
Telephone: (212) 739-6400
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 17, 2016
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of § 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7(b) for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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