Top 10 Holdings of Caligan Partners

2. Alimera Sciences, Inc. (NASDAQ:ALIM)

Caligan Partners Equity Stake: $55.55 Million

Number of Hedge Fund Holders: 12

Alimera Sciences, Inc. (NASDAQ:ALIM) is one of the top holdings of Caligan Partners, offering exposure to the development and commercialization of ophthalmic retinal pharmaceuticals. When the hedge fund first acquired stakes in the company, it reiterated that its assets were meaningfully undervalued. It reiterated plans to work with the board and management to create shareholder value as part of its activist campaign.

The hedge fund’s efforts appear to bear fruits, as Alimera Sciences, Inc. (NASDAQ:ALIM) has bounced back after being under pressure for the better part of 2023. It has increased by more than 70% over the past 12 months. A good chunk of the rally also comes from the company acquired by ANI Pharmaceuticals in a deal valued at $381 million.

Twelve hedge funds out of the 920 tracked by Insider Monkey held stakes in Alimera Sciences, Inc. (NASDAQ:ALIM) as of the end of the first quarter, an improvement from 11 as of the end of the fourth quarter of 2023.