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Recro Pharma Inc. (REPH): Largest Shareholder Broadfin Capital Buys Even More Shares

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An amended 13D filing with the Securities and Exchange Commission showed that Kevin Kotler‘s Broadfin Capital has acquired more shares of Recro Pharma Inc. (NASDAQ:REPH), as it owns a current stake of 2.45 million common shares, which amass 20.66% of the company’s outstanding stock. Previously, Broadfin Capital’s stake contained 2.06 million shares, according to its 13F filing for the end of June. The new filing also revealed that the acquisition was solely for investment purposes and that the fund has no further plans other than to continue to examine its investment.

Recro Pharma is a clinical-stage specialty pharmaceutical company that works on discovering and producing a variety of health-related products for hospitals and non-opioid therapeutics to help treat acute pain issues. Recently, the company announced good results from a pivotal Phase III clinical trial of IV Meloxicam. Year-to-date, Recro Pharma’s stock has lost 5.67%. In its financial report for the second quarter of 2016, the company disclosed a loss per share of $0.83, and revenue of $17.3 million, compared to a loss per share of $0.17, and revenue of $18.66 million for the same quarter of the previous year. Earlier this month, Brean Capital reiterated its ‘Buy’ rating on Recro Pharma’s stock, with a price target of $28, more than triple the stock’s current price.

Broadfin

Three of the hedge funds in our database were long Recro Pharma (NASDAQ:REPH) on June 30. Broadfin Capital held the largest position among all institutional investors, followed by Bihua Chen‘s Cormorant Asset Management with 778,288 shares. Jason Karp’s Tourbillon Capital was next with a holding of 646,552 shares. There were no holdings in the stock among the investors in our system during the second quarter.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Broadfin Capital 0 2,450,086 0 2,450,086 20.66%
Broadfin Healthcare Master Fund, Ltd 0 2,450,086 0 2,450,086 20.66%
Kevin Kotler 0 2,450,086 0 2,450,086 20.66%

Kevin Kotler
Kevin Kotler
Broadfin Capital

Page 1 of 8 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)*
Recro Pharma, Inc.
(Name of Issuer)
Common Stock, $0.01 par value per share
(Title of Class of Securities)
75629F109
(CUSIP Number)
Broadfin Capital, LLC
300 Park Avenue, 25th Floor
New York, New York 10022
Telephone – (212) 808-2460
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
August 11, 2016
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.240.13d-1(e), 240.13d‑1(f) or 240.13d-1(g), check the following box [ X ].
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.
*   The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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