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Ra Capital Management Reveals New Stake in Enanta Pharmaceuticals Inc (ENTA)

Peter Kolchinsky‘s Ra Capital Management disclosed a new position in Enanta Pharmaceuticals Inc (NASDAQ:ENTA). According to a 13G filing, the new positions amounts to 1.54 million shares, which represent 8.00% of the company’s common stock. 

Peter Kolchinsky

Headquartered in Watertown, Massachusetts, Enanta Pharmaceuticals Inc (NASDAQ:ENTA) is a biotechnology company focused on the research and development of small molecule drugs in the infectious disease field. The company aims to discover and develop novel inhibitors designed for use against the HCV (hepatitis C virus). In addition to the HCV programs, Enanta has created Bicyclolides – a class of antibiotics for the treatment of multi-drug-resistant bacteria. In March, 2013, the drug developer raised $56.00 million in an initial public offering, pricing the stock at $14.00 per share.  The same year, the company disclosed net losses of slightly more than $4.00 million with respective losses of $0.67 per share, beating market expectations ($-1.78) by more than 60.00%. Analysts estimate steady earnings growth for the period of 2014, predicting losses per share of $0.30 for the first quarter, but earnings per share of $1.45 for the whole year. In 2015, Enanta Pharmaceuticals Inc (NASDAQ:ENTA) is expected to produce profits per share in the range of $3.00 to a high $16.00 per share. Average consensus recommendation for the company’s stock is “Buy”.

Managed by Mitchell Blutt, Consonance Capital Management is another large shareholder at Enanta Pharmaceuticals, holding more than 850,000 shares of the company as at the end of 2013 – a position worth $23.20 million.

A graduate from Harvard with a Ph.D. in virology, Peter Kolchinsky manages an equity portfolio concentrated almost entirely in the Healthcare Sector. The largest position in the portfolio (15.30%) belongs to Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), in which Kolchinsky’s fund invested $77.60 million, holding nearly 23.40 million shares.

Recently, RA Capital disclosed a new passive stake of 1.44 million shares in Repros Therapeutics Inc (NASDAQ:RPRX). Also, the fund boosted its position in pSivida Corp. (NASDAQ:PSDV) to 2.56 million shares – 6.20% of the company’s common stock.

Disclosure: none

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