Finally, Passport Capital’s biggest closed stock positions included HollyFrontier Corp (NYSE:HFC) and eBay Inc (NASDAQ:EBAY). Other closed positions of interest include Amarin Corporation plc (ADR) (NASDAQ:AMRN) and Riverbed Technology, Inc. (NASDAQ:RVBD). Amarin Corporation plc (ADR) (NASDAQ:AMRN) stock has fallen roughly in half over the past year. The company is a late-stage cardiovascular-focused biotech enterprise, with a promising (and FDA-approved) drug to lower triglycerides, fish-oil-based Vascepa. It needs a big partner for Vascepa, though, and one likely suitor recently bought a competitor instead. Meanwhile, the FDA has scheduled an October meeting about the drug, for which Amarin Corporation plc (ADR) (NASDAQ:AMRN) is seeking expanded approval.
Riverbed Technology, Inc. (NASDAQ:RVBD) stock has averaged annual growth of nearly 16% over the past five years, but it has also averaged an annual 31% drop over the past two. The company gobbled up OPNET last year. It recently earned an upgrade to a “buy” rating from Lazard analyst Ryan Hutchinson, based on expected synergies with OPNET and anticipated strength in federal spending. Riverbed Technology, Inc. (NASDAQ:RVBD) offers a lot of promise, but it also carries a lot of uncertainty. Its forward P/E near 15 is far below its five-year average near 118.
We should never blindly copy any investor’s moves, no matter how talented the investor. But it can be useful to keep an eye on what smart folks are doing, and 13F forms can be great places to find intriguing candidates for our portfolios.
The article Here’s What This 220% Gainer Has Been Buying and Selling originally appeared on Fool.com is written by Selena Maranjian.
Longtime Fool contributor Selena Maranjian, whom you can follow on Twitter, owns shares of eBay. The Motley Fool recommends eBay and Riverbed Technology and owns shares of ArcelorMittal, eBay, Riverbed Technology, and Solazyme.
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