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Trovagene, Inc. (TROV): Bridger Management Reports 11% Stake and Goes Activist

In a newly-amended 13D filing, Roberto Mignone‘s Bridger Management reported holding 3.29 million shares of TrovaGene Inc (NASDAQ:TROV) which represent 11% of the company’s outstanding stock. Even though the number of shares remained unchanged compared to a previous filing, the ownership as a percentage of class decreased by 0.1 percentage points due to an increase in the total number of shares of Trovagene. In addition, investor revealed that it had started engaging in discussions with the company’s board and will continue to examine any further movements in order to fully review their investment.

At the end of the fourth quarter, a total of seven of the funds tracked by Insider Monkey held long positions in TrovaGene Inc (NASDAQ:TROV), a change of 17% from the previous quarter.  Bridger Management held the largest stake, followed by First Eagle Investment Management, which reported a $2 million stake in its last 13F. Other hedge funds and institutional investors that hold long positions comprise Israel Englander’s Millennium Management and Hal Mintz’s Sabby Capital.

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
Bridger Management 0 3,290,587 0 3,290,587 3,290,587 11.0%
Roberto Mignone 0 3,290,587 0 3,290,587 3,290,587 11.0%
Roberto Mignone
Roberto Mignone
Bridger Management

Page 1 of 6 – SEC Filing

Washington, D.C. 20549
Under the Securities Exchange Act of 1934
(Name of Issuer)
Common Stock, $0.0001 par value per share
(Title of Class of Securities)
(CUSIP Number)
Matthew Truax
Bridger Management, LLC
90 Park Avenue, 40th Floor
New York, NY 10016
 (212) 918-0820
With a copy to:
Jonathan S. Adler
Fried, Frank, Harris, Shriver & Jacobson LLP
One New York Plaza
New York, NY 10004
(212) 859-8000
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 31, 2016
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☒
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule.13d-7 for other parties to whom copies are to be sent.
* 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 disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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