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Steven Cohen Reveals Bullish Bet On Amag Pharmaceuticals (AMAG), Shares Jump 6%

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Billionaire Steven Cohen is bullish on Amag Pharmaceuticals Inc. (NASDAQ:AMAG), as his family office has disclosed a fresh stake in the company. According to a recent filing with the Securities and Exchange Commission, Mr. Cohen’s Point72 Asset Management holds some 1.73 million shares of the company, which account for approximately 5% of its outstanding stock.

Amag Pharmaceuticals Inc. (NASDAQ:AMAG) provides products and services in the areas of maternal health, anemia management and cancer supportive care. So far this year, the stock has been on a roller coaster, having ended yesterday’s trading session at $24.95 per share, down by roughly 16% year-to-date. However, shares have gained 5.59% this morning following the reveal of Mr. Cohen’s position. Amag Pharmaceuticals is scheduled to release its latest quarterly financial report on August 9 before the opening bell, with analysts projecting $128 million in revenue, which would imply a 3% year-over-year growth, and earnings of $1.20 per share.

Steve Cohen SAC CAPITAL ADVISORS

At the end of the first quarter, roughly 35% of Amag Pharmaceuticals Inc. (NASDAQ:AMAG)’s common stock was held by 25 of the hedge funds tracked by Insider Monkey. William Leland Edwards‘ Palo Alto Investors held a sizable position at the end of March consisting of 2.91 million shares, up by 3% for the quarter. On the other hand, Phill Gross and Robert Atchinson chose to reduce their exposure to the stock, having dumped 14% of their holding during the quarter. In its latest 13F filing, their firm Adage Capital Management indicated ownership of 2.25 million shares of Amag.

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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
Point72 0 701,800 0 701,800 701,800 2.0%
Point72 0 701,800 0 701,800 701,800 2.0%
Cubist Systematic Strategies 0 4,992 0 4,992 4,992 Less than 0.1%
EverPoint Asset Management 0 1,025,000 0 1,025,000 1,025,000 3.0%
Steven A. Cohen 0 1,731,792 0 1,731,792 1,731,792 5.0%
Steve Cohen
Steve Cohen
Point72 Asset Management

Page 1 of 11 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*

AMAG PHARMACEUTICALS, INC.


(Name of Issuer)

Common Stock, Par Value $0.01 Per Share


(Title of Class of Securities)
00163U106
(CUSIP Number)
July 25, 2016
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
*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 the 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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