Orbimed Advisors Cuts Stake In Intercept Pharmaceuticals Inc (ICPT)

Orbimed Advisors is limiting exposure to Intercept Pharmaceuticals Inc (NASDAQ:ICPT), after selling approximately 81,305 shares in one transaction at $320 a piece, according to a recent Form 4 filing with the Securities and Exchange Commission. Orbimed and its manager, Samuel Isaly, are left holding 1.65 million shares, which account for 8.23% of the total number of shares outstanding.

Intercept Pharmaceuticals Inc (NASDAQ:ICPT)

Steven Cohen has sliced its exposure to Intercept Pharmaceuticals Inc (NASDAQ:ICPT) and has dumped most of his fund’s holding of the stock leaving SAC Capital with approximately 6,100 shares which account for less than 0.1% of the company’s common stock. Israel Englander still has high hopes for Intercept, having increased his fund’s stake by 33% during the fourth quarter of 2013. As a result, Millennium Management currently holds approximately 398,500 shares valued at $27.2 million, according to its latest 13F filing.

A development stage biopharmaceutical company, Intercept Pharmaceuticals Inc (NASDAQ:ICPT) has a market cap of $5.28 billion and does not pay a dividend. It announced revenues of approximately $410,000 and a loss per share of $0.64 for the three months ending December 31, 2013. Market participants expect Intercept Pharmaceuticals to register the same revenue for the first quarter of 2014, but the loss is expected to wider to $0.76 per share. So far this year, the stock has advanced 298% to a current price of $270.02 per share, after registering a massive surge on January 9, when the company announced that the testing of a certain drug had been stopped early due to the fact that the first endpoint had been met.

During an appearance on CNBC last month, Samuel Isaly named two stock he is very bullish on: Regeneron Pharmaceuticals Inc (NASDAQ:REGN) and InterMune Inc (NASDAQ:ITMN). According to its latest 13F filing, Orbimed Advisors holds 738,800 Regeneron shares which are valued at $203 million and 7.69 million shares of InterMune worth approximately $113 million.

Disclosure: none.

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