Peter Kolchinsky’s RA Capital Management picked $BEAT

Peter Kolchinsky’s RA Capital Management, LLC initiated a brand new position in CardioNet, Inc. (BEAT). By now RA Capital has taken control of 1.33 million shares, which accounts for 5.47% of BEAT’s outstanding shares. The stock suffered from a crash in early August. Starting on August 3rd, the stock plunged from $5 to $3 in just 4 days, which was more than a 35% decline. Peter Kolchinsky probably regarded this as an opportunity to entry. In the first quarter, RA Capital had no holdings in BEAT. The firm  probably started buying BEAT around August 8th and continued buying the shares until the end of the month. Based on the volume by price of the stock, RA Capital’s average entry price should be around $3.6 per share. BEAT is currently trading around $3.04, so investor can imitate Kolchinsky’s trade at a 16% discount.

Peter Kolchinsky

In the second quarter, there are nine hedge funds that had BEAT in their portfolios. Israel Englander’s Millennium Management owned about 930 thousand shares at the end of June. Jim Simons’ Renaissance Technologies took the second place, increasing its position by 4% to 245 thousand shares. Richard Schimel’s Diamondback Capital increased the position by 55%, resulting in 169 thousand shares. These three hedge funds each took 3.8%, 1.0%, and 0.7%, of BEAT’s outstanding shares respectively.  If no large adjustment made by BEA’s hedge fund shareholders after June, now RA Capital Management has become BETA ‘s biggest owner in hedge funds.

Dr. Peter Kolchinsky is the co-founder and general partner of RA Capital Management, LLC. He graduated from Harvard with a Ph.D. in virology and has been investing in healthcare sector since 2002. He successfully turned his initial $4 million investment into $13 million by 2003.

Incorporated in 1994, CardioNet, Inc. is a healthcare company focusing on monitoring cardiac arrhythmias and heart rhythm disorders. Attaching a special remote device on a patient, the company transfers and records electrocardiogram data. This technology was mainly marketed to cardiologists and electrophysiologists.

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 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

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!