Retrophin, Inc. (NASDAQ:RTRX) shares were trading as high as $37 last summer but like most small-cap biotech stocks lost a large chunk of its value since then. One hedge fund, Scopia Capital in particular, believes the decline made the stock more attractive. Jeremy Mindich’s Scopia Capital owned only 1% of Retrophin Inc. at the end of December when the stock was trading near $20 per share. Scopia Capital boosted its stake to 9.9% through March 21st as Retrophin lost 30% of its value. Now it is probably the largest hedge fund shareholder of the biotech stock.
Scopia Capital isn’t the only hedge fund that is bullish about the stock. If other hedge funds didn’t start selling their holdings, hedge funds own close to half of Retrophin’s outstanding shares now. Mitchell Blutt’s Consonance Capital, Kevin Kotler’s Broadfin, Joe Edelman’s Perceptive Advisors (by the way, Perceptive Advisors was one of the best performing hedge funds in 2015, returning 50%), and Oleg Nodelman’s EcoR1 Capital are among hedge funds with large Rethophin Inc. positions.
You can find the details of Scopia Capital’s filing below:
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Scopia Capital Management||0||3,598,222||0||3,598,222||3,598,222||9.86%|
|Scopia Management, Inc||0||3,598,222||0||3,598,222||3,598,222||9.86%|
|Scopia Windmill Fund||0||1,891,512||0||1,891,512||1,891,512||5.18%|
|Scopia Capital GP||0||3,598,222||0||3,598,222||3,598,222||9.86%|
Page 1 of 14 – SEC Filing
(Name of Issuer)
par value $0.0001 per share
(Title of Class of Securities)
(Date of Event Which Requires Filing of this Statement)
|(1)||The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.|