Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Peter Kolchinsky, Ra Capital Management Inrease Stake in Achillion Pharmaceuticals Again

Peter Kolchinsky‘s hedge fund, Ra Capital Management disclosed upping its position in Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) some more. The fund now holds around 23.4 million shares, adding around 1.1 million shares. Over a week ago, Ra Capital, also, disclosed buying around 1.8 million shares of Achillion.

Peter Kolchinsky

The shares have been acquired in two transactions, the average price amounting to $2.55. In this way, the total amount spent by the fund to increase its exposure in the company tops $2.8 million.

The stock of Achillion has declined by over 60% since the beginning of the year. Last week, Achillion Pharmaceuticals reported its financial results for the third quarter of the year. The company managed to narrow its net loss to $14 million, from $15.3 million posted in the same period of last year. However, for the first nine months of the year, Achillion’s net loss increased to45.6 million, from $35.9 million in the first nine months of 2012. The company hasn’t reported any revenue since the beginning of the year.

Earlier in September, Achillion stated that FDA decided to keep the clinical hold on its NS3 protease inhibitor, sovaprerir, a part of Achillion’s pipeline of therapies for treatment of chronic hepatitis C virus.

Among Achillion’s shareholders, we can mention Daniel Gold‘s Qvt Financial, which in the latest round of 13F filings disclosed holding over 11.7 million shares, worth a total of $35.4 million. Sectoral Asset Management led by Jerome Pfund and Michael Sjostrom own 384,300 shares, worth some $1.2 million. At the same time, James E. Flynn cut down its position in the company, holding previously around 1.6 million shares.

Disclosure: none

Recommended Reading:

Why Kyle Bass Is Betting on Post-IPO NMI Holdings

Martin Hughes, Toscafund Management Strenghten Position in LSE-listed Sinclair IS Pharma

J. Carlo Cannell, Cannell Capital Trim Stake in Crumbs Bake Shop

Loading Comments...
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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!