Phil Gross and Robert Atchinson‘s Adage Capital Management has increased its stake in Medgenics Inc. (NYSEMKT:MDGN), and currently owns 2.10 million common shares, which account for 5.70% of the total outstanding stock, according to the newest 13G filing with the US SEC. This stake compares to 1.25 million shares, Adage Capital Management disclosed in its latest 13G filing (for the end of March).
Medgenics is a company that works on developing treatments that would help patients who are suffering from various serious illnesses. At the beginning of the previous month, the company has signed an agreement with Kyowa Hakko Kirin Co., Ltd for collaboration on the development of Kyowa Hakko’s anti-light monoclonal antibody for severe pediatric onset inflammatory bowel disease. Over the past 12 months, the company’s stock is down by 10.63%. For the first quarter of 2016, Medgenics (NYSEMKT:MDGN) reported a loss per share of $0.34 and cash and cash equivalents of $43.9 million, which compares to a loss per share of $0.36 and cash and cash equivalents of $53,1 million for the same quarter in the previous year.
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According to Insider Monkey’s database, Medgenics (NYSEMKT:MDGN) was in 6 hedge funds’ portfolios at the end of March, compared to 9 funds a quarter earlier. Among them, Kevin Kotler’s Broadfin Capital held the largest position worth $13.4 million in the stock, and James A. Silverman’s Opaleye Management disclosed the second biggest position, valued at $6.9 million. Some other peers long the stock encompass Daniel Gold’s QVT Financial, and Julian Baker and Felix Baker’s Baker Bros. Advisors.
Among investors who are no longer bullish on Medgenics (NYSEMKT:MDGN) are Israel Englander’s Millennium Management, which dumped the biggest investment totaling about $0.2 million in stock, and Cliff Asness’s AQR Capital Management, which sold off a position worth around $0.1 million.
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 |
|---|---|---|---|---|---|---|
| Adage Capital Partners | 2,100,000 | 0 | 2,100,000 | 0 | 2,100,000 | 5.70% |
| Adage Capital Partners GP | 2,100,000 | 0 | 2,100,000 | 0 | 2,100,000 | 5.70% |
| Adage Capital Advisors | 2,100,000 | 0 | 2,100,000 | 0 | 2,100,000 | 5.70% |
| Robert Atchinson | 2,100,000 | 0 | 2,100,000 | 0 | 2,100,000 | 5.70% |
| Phillip Gross | 2,100,000 | 0 | 2,100,000 | 0 | 2,100,000 | 5.70% |
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Page 1 of 11 – SEC Filing
| SECURITIES AND EXCHANGE COMMISSION | |
| Washington, D.C. 20549 | |
| SCHEDULE 13G | |
| Under the Securities Exchange Act of 1934 | |
| (Amendment No. )* | |
| Medgenics, | |
| (Name of Issuer) | |
| Common Stock, | |
| (Title of Class of Securities) | |
| 58436Q203 | |
| (CUSIP Number) | |
| June 21, | |
| (Date of Event Which Requires Filing of This Statement) | |
| Check the appropriate box to designate the rule pursuant to which this Schedule is filed: | |
| ¨ | Rule 13d-1(b) |
| x | Rule 13d-1(c) |
| ¨ | Rule 13d-1(d) |
| (Page 1 of 11 Pages) | |
______________________________
*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.
The information required in 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).
