In a new filing with the U.S. Securities and Exchange Commission, Adage Capital Management, managed by Phill Gross and Robert Atchinson, has disclosed a passive stake in Five Prime Therapeutics Inc (NASDAQ:FPRX). According to the filing, Adage Capital Management holds 1.52 million Five Prime Therapeutics Inc (NASDAQ:FPRX) shares, which represents a significant increase from 500,000 shares the hedge fund reported in its 13F filing. The new stake is equivalent to 6.09% of the company’s common stock.
Adage Capital Management is a Boston-based hedge fund founded by Phill Gross and Robert Atchinson in 2001. Previously, Gross was a healthcare and retail analyst at Jane Mendillo’s Harvard Management Company (HMC). Later, Gross became a partner at HMC, where he spent 18 years. Atchinson also worked at the Harvard Management Company from 1991 to 2001.
Adage Capital Management has a highly diversified equity portfolio, worth more than $40 billion. The fund’s three most favorite holdings include Puma Biotechnology Inc (NYSE:PBYI), Apple Inc. (NASDAQ:AAPL), and Shire PLC (ADR)(NASDAQ:SHPG). As of the end of the third quarter, the fund revealed ownership of 5.69 million shares of Puma Biotechnology Inc (NYSE:PBYI), equal to 3.35% of the fund’s portfolio. Adage Capital Management reported owning 9.12 million Apple Inc. (NASDAQ:AAPL) shares, the stake represents 3% decrease over the quarter. The fund’s third most valuable is represented by Shire PLC (ADR)(NASDAQ:SHPG) a new position, in which the fund disclosed holding 3.27 million of Shire PLC (ADR)(NASDAQ:SHPG).
Last month, Adage Capital Management reported upping its exposure to Pacific Drilling SA (NYSE:PACD) by more than 12%. In a new filing, the fund disclosed owing 11.45 million common shares, accounting for 5.27% of the company’s outstanding stock. In November, Adage Capital Partners reported upping its stake in Rexnord Corp (NYSE:RXN), holding 5.37 million shares of the company, the passive stake amasses 5.28% of common stock. Earlier, the fund held 2.52 million shares of the company.