The next filing is related to Glenhill Advisors and Joint Corp (NASDAQ:JYNT), which went public late in 2014. Glenhill filed a Form 4 as an insider of the company because of its position as a large shareholder, disclosing that in separate transactions on March 30 and 31, it acquired an additional 2,289 shares at an average price of about $7.36 per unit. The transactions brought its total share ownership up to 1.21 million shares. Overall, since the beginning of the year, the investor added around 60,000 shares to its stake, through several smaller transactions.
Joint Corp (NASDAQ:JYNT), which franchises chiropractic clinics which utilize a cash-based as opposed to insurance-based transaction model, is enjoying a strong 2015, with shares rising by 23% year-to-date. The company plans to open both corporate and franchised clinics in 2015 and is forecasting a 100% increase in revenue. Charles Paquelet’s Skylands Capital is the largest shareholder after Glenhill Advisors among the funds we track, reporting ownership of 186,400 shares as of the end of 2014.
Lastly, we come to Ridgeback Capital Management and its new investment in Trillium Therapeutics Inc. (NASDAQ:TRIL). Ridgeback has been a mostly inactive fund over the past two years in terms of its equity portfolio, closing most of its long positions by the end of 2012, and in several 13Fs during the past two years it didn’t report any long positions. In its latest 13F, it disclosed just one long position in Applied Genetic Technologies Corp (NASDAQ:AGTC). Its most recent filing details a new position of 451,900 shares in Trillium, a 6.9% stake in the company. The stake doesn’t include more than 830,000 additional shares underlying currently convertible preferred stock and warrants. Those securities cannot be converted in the event they would push the ownership of the reporting person above 4.99%.
In November, Trillium Therapeutics Inc. (NASDAQ:TRIL) executed a reverse stock split that reduced its number of outstanding shares to 4.31 million from 129.22 million, to comply with the NASDAQ’s minimum share price requirement. The reverse split hiked the value of Trillium’s shares to $8.69 from $0.28. Since then the stock has been gaining ground, soaring by nearly 200% to $25.35. More significantly, the stock appreciated since the beginning of 2015, posting a 50% gain over the past five trading days alone. The Canadian biopharmacuetical company is working on novel cancer treatments, with two programs in the pre-clinical phase. James A. Silverman’s Opaleye Management was previously the largest shareholder among the funds we track, reporting ownership of 333,333 shares in its latest 13F filing.
Disclosure: None
