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Raging Capital Took Activist Stake in Derma Sciences

Raging Capital filed on November 29th for its 13.5% activist stake in Derma Sciences, Inc. (DSCI). Raging Capital is one of DSCI’s insider. According to the filing, Raging Capital began to buy DSCI since late September and now has 1.46 million shares in DSCI. Raging Capital previously reported 513 thousand shares, or 8.3% passive stake in 2010. DSCI is now trading at $7.86, representing a 61% year to date return.

In the second quarter, two hedge funds reported their position in DSCI. Peter Kolchinsky’s RA Capital Management boosted its position by 16 times and had 772 thousand shares in the stock. Brian Bares’ Bares Capital Management had a much smaller position, with 15 thousand shares.

Peter Kolchinsky

Raging Capital Management is a small-to-mid-cap public equity focused hedge fund. The firm was founded by William C. Martin in 2006 in Princeton, NJ. Mr. Martin now serves as the Chairman and Chief Investment Officer in the firm.

Derma Sciences, Inc. is a medical device and pharmaceutical company with a primary focus on wound care. The company engages in manufacturing, marketing, and selling wound care, wound closure and specialty securement devices, and skin care products. The company primarily offers its products to health care agencies and institutions. The company also markets its products through retail channels. The company was founded in 1984 and is headquartered in Princeton, New Jersey.

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