Adage Capital, Point72 Raise Stakes In These Pharmaceutical Companies

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Phill Gross and Robert Atchinson of Adage Capital Partners remain bullish on Cynapsus Therapeutics Inc (NASDAQ:CYNA) according to their latest 13G filing with the SEC. In it, the hedge fund has reported ownership of 650,000 shares of the clinical-stage biopharmaceutical company, from an earlier 600,000-share position, with the current stake representing 5.36% of the company’s common shares. In a separate 13G filing, Steve Cohen’s Point72 Asset Management disclosed an updated position in Uniqure NV (NASDAQ:QURE), comprising 1.14 million shares or 5% of the outstanding common shares of the company. The hedge fund held 546,313 shares of the pharmaceutical company at the end of the second quarter.

Steven Cohen

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Follow Phill Gross And Robert Atchinson's Adage Capital Management

Phill Gross and Robert Atchinson go all the way back to their time working together at the Harvard Management Company. Adage Capital Management was founded under their leadership in 2001 and the investment firm manages a public equity portfolio worth $40.10 billion, as reported in its latest 13F filing. The investment firm is most heavily invested in the healthcare and information technology sectors, while its top ten stock holdings account for 13.17% of its overall equity portfolio. Apple Inc. (NASDAQ:AAPL) is the top stock bet of the hedge fund, as it has ownership of 8.85 million shares of the tech company, valued at $1.11 billion. Puma Biotechnology Inc (NYSE:PBYI) lands at number two in its equity portfolio, with the fund owning 5.69 million shares of the stock.

Cynapsus Therapeutics Inc (NASDAQ:CYNA) is a clinical-stage pharmaceutical company, working on a treatment for the OFF episodes of Parkinson’s disease. The medical company announced its second quarter financial results on August 14, reporting a net loss of $10.96 million against the prior-year loss of $2.82 million. Being a clinical-stage company, Cynapsus Therapeutics Inc (NASDAQ:CYNA) didn’t release revenue figures. The specialty pharmaceutical company announced the enrollment of the first patient into its pivotal phase 3 study of APL-130277, which is used for the treatment of OFF episodes of Parkinson’s disease. At the end of the second quarter, 12 hedge funds in our database had positions worth $69.47 million in the company. Samuel Isaly’s Orbimed Advisors was the largest shareholder of those, followed by Millennium Management, holding 1.14 million shares and 287,390 shares, respectively.

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