Philip Hempleman’s Ardsley Partners reported 5.30% passive stake in Amarin Corporation plc\uk (AMRN) on November 14th, according to a SEC 13G filing. Ardsley Partners now has approximately 7.20 million shares in $AMRN. Previously Ardsley Partners reported 4.95 million shares at the end of the third quarter. So this is a 45% expansion. It’s possible that Ardsley Partners made most of the purchase during October at near $9 per share. However, AMRN dropped in early November due to its patent application issues with the U.S. Patent and Trademark Office. Now AMRN is trading at $7.44, losing 9% in 2011.
Twenty one hedge funds were bullish about AMRN in the second quarter. Steven Cohen's Sac Capital Advisors took the largest portion with 3.85 million shares, after it increased its position by 324%. Philip Hempleman’s Ardsley Partners is the next, with 3.4 million shares in the stock. Arthur B Cohen And Joseph Healey’s Healthcor Management initiated its position in the second quarter and had 2 million shares. Ken Griffin’s Citadel Investment Group took 1.6 million shares, up by 37% from Q1. Jim Simons’ Renaissance Technologies and George Soros’ Soros Fund Management each had a small position in ARMN, 351 thousand shares and 285 thousand shares respectively.
According to Yahoo, Ardsley Partners is a $1 billion equity-focused hedge fund company. “Through various funds (including Ardsley Offshore Fund, Ardsley Partners Fund II, Ardsley Partners Institutional Fund, and Augusta Partners), the company invests globally in rapidly growing companies. It favors chemical and chemical-based product makers; its portfolio has included Aventine Renewable Energy Holdings, Pioneer Companies, Solutia, and Tronox. Ardsley Partners was founded in 1987 by CEO Philip Hempleman who is a generous donor to the Democratic Party, including Hillary Rodham Clinton.”
Per Yahoo! Finance, Amarin Corporation Plc is “a clinical-stage biopharmaceutical company, focusing on developing treatments for cardiovascular diseases. Its lead product candidate includes AMR101, a prescription grade omega-3 fatty acid, which is in second Phase III clinical trial for the treatment of high triglyceride levels in statin-treated patients who have mixed dyslipidemia. The company, formerly known as Ethical Holdings plc, was founded in 1989 and is based in Dublin, Ireland.”