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.

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 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

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!