Ra Capital Management Initiates Stake in Furiex Pharmaceuticals Inc (FURX) After the Stock Jumped

Peter Kolchinsky‘s Ra Capital Management, has just disclosed initiating a 7.2% stake in Furiex Pharmaceuticals Inc (NASDAQ:FURX). The position amasses 750,000 shares and is passive by nature. The value of the holding amounts to $84.23 million, at the current price of the company’s stock.

Peter Kolchinsky

Furiex Pharmaceuticals Inc (NASDAQ:FURX) went on the radars just yesterday, when it’s stock jumped by a whooping 130%. In our newsletter back in December, we recommended to buy shares of Furiex, based on the recommendation from Michael Castor.

The significant boost gained by Furiex Pharmaceuticals Inc (NASDAQ:FURX)’s stock came amid positive results regarding the company’s two pivotal Phase III clinical trials, which evaluated the safety of eluxadoline in the cure of diarrhea-predominant irritable bowel syndrom. The results of the studies met the endpoints agreed by the U.S. Food and Drug Administration and the European Medicines Agency.

Even though Ra Capital acquired shares of Furiex Pharmaceuticals Inc (NASDAQ:FURX) after the price of the stock surged, we can assume that the fund still expects it to gain some ground. Aside from Ra, which now holds a significant stake in Furiex, another shareholder is Chuck Royce‘s Royce & Associates, which in the third quarter of last year held 232,900 shares of the company.

Ra Capital is a fund focused on the healthcare sector, investing in companies with perspectives to deliver promising drugs and technologies. Last month, the fund reported selling 300,000 shares of Derma Sciences Inc (NASDAQ:DSCI), reducing its stake to 1.69 million shares. Also, the fund has been bullish on Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) raising the stake to 23.4 million shares.

Disclosure: none

Recommended Reading:

Deerfield Management Discloses Stake in Post-IPO Auspex Pharmaceuticals Inc (ASPX)

Deerfield Management & Brookside Capital Revealed Significant Stakes in Newly Public Dicerna Pharmaceuticals Inc (DRNA)

Sanford J. Colen’s Apex Capital’s Top Picks Include Netflix, Inc. (NFLX) & eBay Inc (EBAY) Among Others

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!