Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Jacob Gottlieb, Visium Asset Management Significantly Increase Zogenix Inc. (ZGNX) Holding

The position of Zogenix, Inc. (NASDAQ:ZGNX), in the equity portfolio of Jacob Gottlieb‘s Visium Asset Management has surged to over 8.9 million shares, from 1.7 million reported by the fund in its latest 13F. Visium’s stake is passive by nature and amasses 6.4% of the company’s common stock. At the current stock price of Zogenix, the value of the holding amounts to $28.8 million.

Zogenix, Inc. (NASDAQ:ZGNX)

The stock of Zogenix has jumped by over 140% since the beginning of the year. The company recently conducted a publif offering, under the terms of which it sold around 30.7 million shares, including 4.0 million under the over-allotment option. The share price, under the terms of the offering, was $2.25 apiece. The company plans to gain net proceeds worth $64.4 million.

Recently, the company received approval from the FDA for Zohydro ER,  an extended-release oral formulation of hydrocodone. In the third quarter of 2013, Zogenix reported revenues worth $7.2 million, down from $8.5 million in the same period of last year. Zogenix narrowed its net loss to $10.9 million, equal to $0.1 per share, from $19.3 million a year ago.

In the latest round of 13F filings, several hedge funds disclosed holding shares of Zogenix. Deerfield Management, led by James E. Flynn, owns 4.5 million shares, worth $8.3 million. Julian Baker And Felix Baker’s Baker Bros. Advisors reported a $3.7 million stake, which amasses 2.0 million shares, followed by Kevin Kotler’s Broadfin Capital, which owns around 1.99 million shares, worth $3.68 million.

Among recent moves, Visium disclosed boosting its position in QLT Inc. (USA) (NASDAQ:QLTI), currently holding 3.5 million shares, equal to 6.8% of the company. Also, the fund reported initiating a position MEI Pharma Inc (NASDAQ:MEIP), which contains 931,767, equal to 5.4% of the company’s common stock.

Disclosure: none

Recommended Reading:

Invicta Capital Management Dumps Its Entire Position in Ceragon Networks Ltd. (CRNT)

Mario Gabelli, GAMCO, & Tredegar Corporation (TG)’s Poison Pill

Gabe Hoffman’s Accipiter Capital Decreases Holding of Triple-S Management Corp. (GTS) Stock

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.