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

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

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

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!