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.

Peter Kolchinsky, Ra Capital Management Open Position in Xencor Inc (XNCR)

Peter Kolchinsky and Ra Capital Management are betting big on Xencor Inc (NASDAQ:XNCR). In a recent filing with the Securities and Exchange Commission, Ra Capital has revealed opening a new position by acquiring 2.7 million shares of Xencor. Ra’s stake accounts for 8.7% of the company’s common stock.


According to our database, Ra Capital Management is the first among the hedge funds we track to open a position in Xencor Inc (NASDAQ:XNCR). A bio-pharmaceutical company, Xencor engages in the research of antibodies that fight life-threatening diseases. The company went public on December 3rd, 2013. The Initial Public Offering (IPO) was priced at $5.50 with 12.7 million shares being offered. The underwriters of the IPO had the option to buy up to 1,909,500 additional shares. As a result, Xencor raised approximately $72 million with the stock advancing 52% during its first day of trading. At the time of writing, shares are traded at a price of $9.34, which gives the company a market cap of $274 million.

Peter Kolchinsky and Ra Capital Management focus on companies with promising drugs and technologies and have been particularly bullish on certain pharmaceutical stocks lately: Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) and Dynavax Technologies Corporation (NASDAQ:DVAX). Ra Capital has increased it’s holding of Dynavax Technologies Corporation (NASDAQ:DVAX) to 26 million shares from 6 million shares reported in its latest 13F report. The stock has fallen 44% so far in 2013 to a current price of $1.63 per share, which is very close to the all time low of $0.15. Dynavax has a market cap of $430 million and a beta of 2.75, which makes it a very volatile stock. Kolchinsky has also increased his fund’s stake in Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) to 23.4 million shares. The stock has a market cap of $295 million and does not pay a dividend. Shares are traded at a price of $3.06 after falling 63% in 2013.

Disclosure: none

Recommended reading:

Leon Cooperman, Omega Advisors Up Their Stake in Atlas Resource Partners LP (ARP)

Christopher Pucillo, Solus Alternative Further Increase Their Stake in YRC Worldwide Inc (YRCW)

Edward Lampert, ESL Sell Some More AutoNation, Inc. (AN) Shares

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.