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

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

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

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!