According to a freshly-amended 13G filing with the Securities and Exchange Commission, James E. Flynn‘s Deerfield Management has sold around 2.56 million shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA), lowering its stake in the company to 3.44 million shares which amass 7.94% of the company’s float. As per its 13F filing for the June 30 reporting period, Deerfield Management’s stake in Vanda Pharmaceuticals consisted of almost 6 million common shares.
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) is, as the name suggests, a biopharmaceutical company, one which produces therapeutics for treating central nervous system disorders. The company’s stock has gained a robust 75.73% year-to-date, with most of those gains coming in the last five months. In its financial report for the second quarter of 2016, Vanda Pharmaceuticals disclosed a net loss per share of $0.01 and revenue of $36.03 million, compared to a net loss per share of $0.13 and revenue of $27.58 million for the same period a year earlier. Recently, Piper Jaffray set a price target of $19 on Vanda Pharmaceuticals’ stock, with a ‘Buy’ rating.
The number of hedge funds in our database long Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) stood at 21 at the end of June, down by one from the end of the previous quarter. Some of the bullish investors encompassed Jim Simons’ Renaissance Technologies, which held a position valued at $1.7 million, Emmanuel Ferreira’s Convector Capital, with a position worth $783,000, Principal Global Investors’ Columbus Circle Investors, Jonathan Lourie and Stuart Fiertz’ Cheyne Capital, and Ken Griffin’s Citadel Investment Group.
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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 |
|---|---|---|---|---|---|---|
| Deerfield Mgmt | 0 | 3,435,576 | 0 | 3,435,576 | 3,435,576 | 7.94% |
| Deerfield Management Company | 0 | 3,435,576 | 0 | 3,435,576 | 3,435,576 | 7.94% |
| Deerfield Partners | 0 | 1,283,849 | 0 | 1,283,849 | 1,283,849 | 2.97% |
| Deerfield Special Situations Fund | 0 | 517,737 | 0 | 517,737 | 517,737 | 1.20% |
