Nantahala Capital Management’s Returns, AUM, and Holdings

The most valuable new position added to Nantahala Capital Management’s portfolio during the second quarter was a stake in Iovance Biotherapeutics Inc (IOVA), consisting of 825,000 shares worth around $10.56 million. This company is slowly drawing the interest of some of the hedge funds in our database, as 20 of them reported having long positions in it as of the end of June, up by two from the end of March. Next up among the fund’s big new positions is Roadrunner Transportation Systems Inc. (RRTS), as the fund acquired 2.55 million shares valued at $5.33 million during the second quarter. At the end of June, 11 smart money investors tracked by Insider Monkey’s system were bullish on this stock, unchanged over the quarter. Paul Singer’s Elliott Management had the largest stake, counting 3.31 million shares worth around $6.91 million.

Nantahala Capital Management is getting more optimistic about some of the stocks it held in the previous quarter, as it raised its positions in them during the second quarter. One of those stocks is Bridgepoint Education Inc (BPI), in which the fund boosted its stake by 201% to 2.13 million shares worth $13.89 million. Another is Galmed Pharmaceuticals Ltd (GLMD), in which it raised its stake by 141% to 741,108 shares worth $8.82 million on June 30. Other smart money investors from our database are also getting more bullish on Galmed Pharmaceuticals Ltd (GLMD), as the number of them with long positions doubled in the second quarter, with 12 of them long the stock at the end of June.

Lastly, Nantahala dumped four companies in the second quarter. The biggest position it said goodbye to was Cogentix Med Inc (previously CGNT), as the company was acquired by LABORIE Medical Technologies; prior to the acquisition, the fund held 3.64 million Cogentix shares worth around $14.01 million. The next in line is Playags Inc (AGS), in which the fund dropped the position of 399,158 shares valued at $9.28 million which it had held at the end of March.

Disclosure: None. This article is originally published on Insider Monkey.