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Hedge Funds’ Favorite Recently-Public Companies amid Atrophied IPO Market

#4. Beigene Ltd (ADR) (NASDAQ:BGNE)

– Investors with long positions as of March 31: 15

– Aggregate value of investors’ holdings as of March 31: $115.21 Million

A total number 15 asset managers tracked by Insider Monkey were invested in Beigene Ltd (ADR) (NASDAQ:BGNE) at the end of the first quarter of 2016, with their overall equity investments being valued at $115.21 million. In early February, the cancer-focused clinical-stage biopharmaceutical company completed its initial public offering on the NASDAQ stock exchange by selling to the public 6.60 million American Depositary Shares (ADSs) at a price of $24.00 per ADS. Moreover, the underwriters exercised their options to purchase an additional 990,000 ADSs. The oncology drug maker has seen its ADSs lose 6% of their value in the past three months, but they continue to change hands above the IPO price of $24. Beigene’s future growth potential strongly relies on its proprietary cancer biology platform that combines a unique access to internal patient-derived biopsies with strong oncology biology. Baker Bros. Advisors LP, founded by Julian and Felix Baker, has 1.92 million ADSs of Beigene Ltd (ADR) (NASDAQ:BGNE) among its pool of holdings as of the end of the first quarter.

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#3. Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ)

– Investors with long positions as of March 31: 17

– Aggregate value of investors’ holdings as of March 31: $54.92 Million

Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ) resided the equity portfolios of 17 hedge funds tracked by our team at the end of the March quarter. Those 17 smart money investors had $54.92 million worth of equity investments in the specialty pharmaceutical company at the end of the quarter and accumulated 24% of its total number of outstanding shares. Aralez Pharmaceuticals was formed as a result of the business combination between specialty pharmaceutical company POZEN Inc. and industry peer Tribute Pharmaceuticals Canada Inc., which closed in early February. Under the terms of the agreement between the aforementioned companies, each share of POZEN was converted into the right to receive one Aralez share and each share of Tribute was exchanged for 0.1455 Aralez shares. The newly-formed company operates as a global specialty pharmaceutical company with operations in Canada, Ireland and the United States. Shares of Aralez are down 29% since early February. Kevin Kotler’s Broadfin Capital reported owning 3.80 million shares of Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ) in its latest 13F filing.

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