Should You Buy Anthera Pharmaceuticals Inc (ANTH) Following Public Offering Of Common Shares?

How are hedge funds trading Anthera Pharmaceuticals Inc (NASDAQ:ANTH)?

Among the hedge funds tracked by Insider Monkey, Broadfin Capital, managed by Kevin Kotler, holds the largest position in Anthera Pharmaceuticals Inc (NASDAQ:ANTH). Broadfin Capital holds around 2.4 million shares valued at $10.8 million at the end of March, comprising 0.8% of its 13F portfolio. Coming in second is Joseph Edelman of Perceptive Advisors, with 1.6 million shares of the company; 0.6% of his fund’s 13F portfolio is allocated to the stock. Some other hedgies that hold long positions comprise Howard Guberman’s Gruss Asset Management, Kris Jenner, Gordon Bussard, and Graham McPhail’s Rock Springs Capital Management, and Stanley Shopkorn and Douglas Day’s Hilltop Park Associates.

As hedge fund managers were pouring more money into Anthera Pharmaceuticals Inc (NASDAQ:ANTH), we can expect that some hedgies opened up fresh positions in the stock during the first quarter. Rock Springs Capital Management initiated the largest position in Anthera Pharmaceuticals Inc (NASDAQ:ANTH), buying around 425,000 shares during the January – March period. Hilltop Park Associates also initiated a fresh position in the stock, buying around 136,000 shares. The other funds with brand new Anthera positions are Charles Davidson’s Wexford Capital, Israel Englander’s Millennium Management, and Jim Simons‘ Renaissance Technologies.

Hedge funds were right to invest a little more in the stock during the first quarter, as the stock price has almost doubled since the end of that quarter. Even though the stock has pulled back a little today due to the announcement of the underwritten public offering, we recommend this stock as a good buying opportunity.

Disclosure: None