Funds Reveal New Positions in Peabody Energy Corporation (BTU), BIND Therapeutics Inc (BIND)

Two of our tracked funds have recently revealed in filings with the SEC that they’ve taken large new passive positions in a couple of stocks. Hal Mintz’s SABBY Capital has made a move into another health stock, that stock being BIND Therapeutics Inc (NASDAQ:BIND), in which they’ve reported ownership of 1.39 million shares, 6.85% of all Common Shares. Meanwhile, Dmitry Balyasny (pictured below)’s Balyasny Asset Management has revealed a 5.17% stake in Peabody Energy Corporation (NYSE:BTU), amounting to ownership of 14.03 million shares.

For SABBY Capital, their move into BIND Therapeutics Inc (NASDAQ:BIND), follows their recent bullish move on Gevo, Inc. (NASDAQ:GEVO), which admittedly wasn’t a huge investment given the nanocap nature of that stock, which was trading at just $0.13 at the time. In BIND they’re getting a stock on the rebound after a calamitous 2014 that saw it tank over 60% to end the year trading at just $5.40.

BIND Therapeutics Inc has rebounded 12.78% thus far in 2015, with much of that rise being accounted for on January 8, a day after they announced the latest results from their ongoing Phase 2 study of BIND-014, a nano-medicine cancer treatment that targets PSMA (a clinically-validated target in prostate cancer) in non-small cell lung cancer and metastatic castrate-resistant prostate cancer. The most recent results followed November 19 results that met their primary objective, but were seen as less promising. Those results triggered a steep drop over the next two weeks, with the stock falling over 25%.

In addition to BIND-014, BIND has two other Accurin (targeted therapeutics) treatments in pre-clinical testing. They’ve formed a number of collaborations in recent months, including with AstraZeneca plc (ADR) (NYSE:AZN), Pfizer Inc. (NYSE:PFE), and Merck & Co., Inc. (NYSE:MRK), which will see them develop Accurins based on those company’s proprietary compounds.

There was limited activity among our funds in BIND Therapeutics Inc (NASDAQ:BIND) throughout 2014, as it struggled to keep its head above water. James A. Silverman’s Opaleye Management had the largest position as of September 30 with 450,000 shares, while James E Flynn’s Deerfield Management had 274,000 shares.