Samuel Isaly’s OrbiMed Advisors recently filed a 13D filing with the SEC in which it reported owning 2.18 million common shares of Loxo Oncology Inc. (NASDAQ:LOXO), which account for 10.04% of the company’s outstanding stock. Although the number of shares owned by Orbimed Advisors hasn’t changed, the filing was submitted in order to report a change in the percentage of shares that it owns, due to the amount of outstanding shares increasing. Previously, the 2.18 million shares owned by OrbiMed Advisors amassed 11.12% of the company’s outstanding stock.
Loco Oncology is a biopharmaceutical company that works on discovering various therapeutics to help treat people with genetically defined cancer. One such treatment is LOXO 101, which recently received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. Over the last 12 months, the company’s shares have gained 37.13%. For the second quarter of 2016, the company reported a net loss of $15.92 million amounting to a net loss per share of $0.77, compared to a net loss of $8.06 million or $0.49 per share for the same quarter of the previous year.
As per Insider Monkey’s hedge fund database of 766 13F-filing hedge funds, at the end of the first quarter of 2016, 14 of those investors were long the stock, down from 18 a quarter earlier. The largest position was reported by Dennis Purcell’s Aisling Capital, worth close to $103.8 million, while the second-biggest stake was held by Orbimed Advisors. Some other smart money managers with similar bullishness included Phill Gross and Robert Atchinson’s Adage Capital Management, Richard Driehaus’ Driehaus Capital, and Zach Schreiber’s Point State Capital.
Among investors who lost interest in Loxo Oncology (NASDAQ:LOXO) and decided to sell their shares during the first quarter were Jacob Gottlieb’s Visium Asset Management, which said goodbye to its position worth about $11.4 million in stock, and Dmitry Balyasny’s Balyasny Asset Management, which sold off a position worth about $0.8 million.
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You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| OrbiMed Advisors | 0 | 2,175,857 | 0 | 2,175,857 | 2,175,857 | 10.04% |
| OrbiMed Capital GP V | 0 | 2,175,857 | 0 | 2,175,857 | 2,175,857 | 10.04% |
| Samuel D. Isaly | 0 | 2,175,857 | 0 | 2,175,857 | 2,175,857 | 10.04% |
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Page 1 of 12 – SEC Filing
LOXO ONCOLOGY, INC.
COMMON STOCK
Telephone: (212) 739-6400
August 3, 2016
