Sac Capital Advisors Reports New Stake in Momenta Pharmaceuticals, Inc. (MNTA)

Steven Cohen’s SAC Capital Advisors has reported adding Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) to its equity portfolio. SAC Capital Advisors currently holds around 2.9 million shares of the company; the stake amounts to 5.6% of the common shares outstanding.

SAC CAPITAL ADVISORS

Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) is a biotechnology company that specializes in detailed structural analysis of complex mixture drugs. Last month, the company posted its results for the fourth quarter and full year 2013. Revenue for the fourth quarter of 2013 was $12.8 million, compared to $12.7 million for the same period in 2012. For the quarter, the company reported a net loss of $0.59 per share, versus a net loss of $0.35 in 4Q12. The cash equivalents and marketable securities at the end of the year was $245.7 million, compared to $340.6 million in 2012.

Momenta also provided guidance for the fiscal year 2014, it expects total operating expenses, excluding stock-based compensation and net of collaborative revenues, to be in the range of $30 to $32 million per quarter. Net cash usage, excluding revenue from the potential launch of M356, is expected to be around $30 million per quarter.

Craig Wheeler, president at Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA), sold 2,109 shares last month and now holds 379,539 shares of the company.

Visium Asset Management, led by Jacob Gottlieb, is the largest shareholder of Momenta Pharmaceuticals of all the hedge funds we track. It holds 3.6 million shares, with a reported value of $64.0 million. Visium is followed by Rob Citrone’s Discovery Capital Management, which owns 1.9 million shares, worth $34.1 million.

SAC Capital is a diversified hedge fund that uses both fundamental and quantitative analysis-based approaches. Recently, SAC Capital Advisors boosted its stake in Gogo Inc (NASDAQ:GOGO) to 4.6 million shares from 132,000 shares held earlier. This week, the fund edged up its position in Walter Investment Management Corp (NYSE:WAC) to 1.9 million shares, from less than 1.2 million held previously. Last month, the fund upped its stake in ITT Educational Services, Inc. (NYSE:ESI) to 1.2 million shares from 10,953 shares held earlier. It also raised its stake in DeVry Education Group Inc (NYSE:DV) to 3.2 million shares from 27,391 shares held at the end of the fourth quarter of 2013.

Disclosure: none

Recommended Readings:

SAC Capital Advisors Raises Stake in Walter Investment Management Corp (WAC)
Steven Cohen’s SAC Capital Ups Passive Stake in Gogo Inc (GOGO)
Steven Cohen Boosts SAC’s Stake in ITT Educational Services, Inc. (ESI)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

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!