Tang Capital Management Discloses Moves into La Jolla Pharmaceutical Company (LJPCD), Vanda Pharmaceuticals Inc. (VNDA), Mirati Therapeutics Inc. (MRTX) & Others

Tang Capital Management, led by Kevin C. Tang, revealed in a filing several moves that have impacted its equity portfolio. One of the companies involved is La Jolla Pharmaceutical Company (OTCBB:LJPCD) in which the fund now owns 468,214 shares, which represent 9.9% of the company’s common stock. La Jolla Pharmaceutical develops therapeutics, targeting significant unmet life-threatening diseases.

The amount of shares of La Jolla Pharmaceutical Company held by Tang has been decreased amid a reverse stock split announced by the company a couple of days ago. Earlier, the fund reported holding around 1.51 million shares of La Jolla Pharmaceutical. The reverse stock split was made under the 1-for-50 ratio. The restructuring has been conducted in order to place the company for a possible listing on the NASDAQ stock market, the company said in a statement.

In another filing, the fund revealed that it has disposed of all the shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA). Earlier, Tang held 1.81 million shares, disclosed by the fund in an earlier filing.  Vanda Pharmaceuticals is a biopharmaceutical company, that develops and commercialize products which helps cure central nervous system disorders.

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)

Baker Bros. Advisors, managed by Julian Baker And Felix Baker, raised its stake in Vanda Pharmaceuticals by 22% in the third quarter of 2013, and currently owns some 4.79 million. William Leland Edwards’s Palo Alto Investors also holds 2.91 million shares of the company.

The fund also revealed that it owns 471,764 shares of Supernus Pharmaceuticals Inc (NASDAQ:SUPN), equal to 1.4% common stock of the company, down from 2.3 million shares held earlier.

Supernus Pharmaceuticals, is a specialty pharmaceutical company, that develops and commercializes products which helps in the treatment of central nervous system, or CNS, diseases. Philip Hempleman’s Ardsley Partners initiated a position in Supernus Pharmaceuticals Inc (NASDAQ:SUPN), by purchasing 1.93 million shares. In October, Orchard Hill Capital Management also disclosed a filing, that it holds 10.2% of the company’s shares. Samuel Isaly’s Orbimed Advisors, owns some 639,400 shares of the company.

In another filing, Tang Capital Management revealed that it has sold all the common shares of Anthera Pharmaceuticals Inc (NASDAQ:ANTH). Previously, Tang owned some 11.47 million shares, equal to 8.2% of the company.

Anthera Pharmaceuticals is a biopharmaceutical company, it develops and commercializes products that cure autoimmune diseases. Of the other hedge funds we track, Deerfield Management, led by James E. Flynn, holds 1.69 million shares of Anthera Pharmaceuticals, worth $6.80 million. Samuel Isaly’s Orbimed Advisors is also bullish on the company and owns 932,750 shares.

Tang Capital Management also disclosed in another filing, that it has trimmed its stake in Mirati Therapeutics, Inc. (NASDAQ:MRTX), to 774,375 shares, from 1.18 million shares, held at the end of the third quarter of 2013. The fund currently holds a stake of 5.8% of the common stock of the company.

Baker Bros. Advisors, is also bullish on Mirati Therapeutics, Inc. (NASDAQ:MRTX), and holds 1.98 million shares. Mirati Therapeutics, Inc. (NASDAQ:MRTX) is a clinical-stage biopharmaceutical company that develops a pipeline of targeted oncology products. Orbimed Advisors, managed by Samuel Isaly, initiated a position in the company in the third quarter of 2013 and now holds some 1.15 million shares.

Disclosure: none

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