Peter Kolchinsky, Ra Capital Management Open Position in Xencor Inc (XNCR)

Peter Kolchinsky and Ra Capital Management are betting big on Xencor Inc (NASDAQ:XNCR). In a recent filing with the Securities and Exchange Commission, Ra Capital has revealed opening a new position by acquiring 2.7 million shares of Xencor. Ra's stake accounts for 8.7% of the company's common stock. Xencor According to our database, Ra Capital Management is the first among the hedge funds we track to open a position in Xencor Inc (NASDAQ:XNCR). A bio-pharmaceutical company, Xencor engages in the research of antibodies that fight life-threatening diseases. The company went public on December 3rd, 2013. The Initial Public Offering (IPO) was priced at $5.50 with 12.7 million shares being offered. The underwriters of the IPO had the option to buy up to 1,909,500 additional shares. As a result, Xencor raised approximately $72 million with the stock advancing 52% during its first day of trading. At the time of writing, shares are traded at a price of $9.34, which gives the company a market cap of $274 million. Peter Kolchinsky and Ra Capital Management focus on companies with promising drugs and technologies and have been particularly bullish on certain pharmaceutical stocks lately: Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) and Dynavax Technologies Corporation (NASDAQ:DVAX). Ra Capital has increased it's holding of Dynavax Technologies Corporation (NASDAQ:DVAX) to 26 million shares from 6 million shares reported in its latest 13F report. The stock has fallen 44% so far in 2013 to a current price of $1.63 per share, which is very close to the all time low of $0.15. Dynavax has a market cap of $430 million and a beta of 2.75, which makes it a very volatile stock. Kolchinsky has also increased his fund's stake in Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) to 23.4 million shares. The stock has a market cap of $295 million and does not pay a dividend. Shares are traded at a price of $3.06 after falling 63% in 2013. Disclosure: none Recommended reading: Leon Cooperman, Omega Advisors Up Their Stake in Atlas Resource Partners LP (ARP) Christopher Pucillo, Solus Alternative Further Increase Their Stake in YRC Worldwide Inc (YRCW) Edward Lampert, ESL Sell Some More AutoNation, Inc. (AN) Shares
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