Sabby Management Adds Bioline RX Ltd (BLRX) & Recro Pharma Inc (REPH) to Its Equity Portfolio

In a couple of new filings with the SEC, Hal Mintz‘s Sabby Management disclosed adding two companies to its equity portfolio: Bioline RX Ltd (NASDAQ:BLRX) and Recro Pharma Inc (NASDAQ:REPH). In RecroPharma the fund reported a 5.99% passive stake that contains 437,500 shares. In Bioline RX, Sabby revealed ownership of 1.7 million shares, equal to 5.02% of the outstanding stock.

Bioline RX Ltd (NASDAQ:BLRX) is an Israel-based company specialized in the development of therapeutics. For the last year, the company reported a net loss of $0.27 per diluted share, expanding the loss from $0.08 posted a year earlier. Among the recent highlights, the company mentioned promising phase 2 trials of its BL-8040, a drug for the treatment of AML and other hematological indications. The company also began blinded Phase 1/2 study for BL-7010, specialized for treatment of celiac disease. The stock of the company has been declining and lost over 10% since the beginning of the year.

The largest shareholder of Bioline RX Ltd (NASDAQ:BLRX) is Samuel Isaly‘s Orbimed Advisors, which, however, cut its stake by 200,000 shares during the last quarter of 2013, and currently holds around 1.14 million shares. Richard Mashaal‘s Rima Senvest also holds a significant stake, which contains 730,310 shares, as reported in its latest 13F. James A. Silverman‘s Opaleye Management owns 713,000 shares, initiating a position during the last quarter of 2013.

Recro Pharma Inc (NASDAQ:REPH) is a newly public company, in which aside from Sabby, a stake has been reported by Kevin Kotler‘s Broadfin Capital. Broadfin in an earlier filing reported ownership of 580,000 shares, equal to 8.1% of the outstanding stock. The company began trading on March 7, and last week it closed its IPO, which involved  the sale of 3.75 million shares at a price of $8.00 apiece, including over-allotment options.

Disclosure: none

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