Roberto Mignone’s Bridger Management Boosts Its Position in $CRME

Roberto Mignone’s Bridger Management boosts its position in Cardiome Pharma Corp (CRME). According to the 13G disclosed on October 13th, Bridger Management now has 3.39 million shares of CRME in its portfolio, corresponding to a 5.5% stake of the stock. As is shown in the latest 13F, Bridger Management was one of the five hedge funds which retained positions in CRME in the second quarter. The firm had 2.14 million CRME shares, or 3.89% stake at that time. So this is a nearly 50% expansion in Bridger Management’s position. CRME has lost about 50% so far, and has just rallied from its 2-year low on October 4th. Since CRME’s daily trading volume is about 200 thousand, it’s possible that Bridger Management entered at about $3.5 in late September. Now the stock is priced at $3.57, and outsiders may choose to imitate Bridger Management’s transaction at this point.

BRIDGER MANAGEMENT

According to Insider Monkey’s hedge fund tracking list, five hedge funds reported CRME in their positions in the second quarter. Phill Gross and Robert Atchinson’s Adage Capital Management had a much larger position with 6.70 million shares, which gave them a more than 10% stake. Julian Robertson’s Tiger Management had 2.53 million shares, giving a 4% stake. George Soros also had a small position for 13 thousand shares in CRME.

Bridger Management is managed by Roberto Mignone, who graduated from Harvard Business School and joined John Griffin at Blue Ridge Capital. Right before his 29th birthday in July 2000, he launched Bridger Management which now manages about $2 Billion. He charges a 1.5 percent management fee and 20 percent incentive fee. He believes fund size is a drag on the performance of a long/short fund manager, so he has no desire to run a much bigger fund than what he is currently running. Roberto Mignone’s Bridger Management keeps their returns extremely secret. They do extensive analysis and follow a long/short strategy. (You can see the rest of his profile here)

Cardiome Pharma Corp. is a life sciences company. It engages in developing proprietary drugs for cardiovascular and other diseases. It also has clinical programs and pre-clinical projects. The company has collaboration and license agreement with Merck & Co., Inc. and Astellas Pharma US, for vernakalant-related projects. Cardiome Pharma Corp. was founded in 1986 and is based in Vancouver, Canada.

Dividend Stock Alert - Billionaire Robbins' Top Dividend Idea With 70% Upside Potential

Get Paid 3.5% Per Year While Waiting For The Stock Appreciate 70%

Larry Robbins' Glenview Capital Opportunity Fund returned 101.7% in 2013 and Robbins personally made $750 million. The same fund returned 25.3% in 2014. In this FREE REPORT we will share Robbins' top dividend idea that yields 3.5% and has been increasing its dividends for 39 consecutive years. Robbins thinks the stock has the potential to appreciate 70%.

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

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

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

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!