In this article, we shall discuss the top 5 stock picks of Efrem Kamen’s Pura Vida Investments. To know more about Kamen’s history, his investment strategy, and hedge fund performance, go directly to Top 10 Stock Picks of Efrem Kamen’s Pura Vida Investments.
5. NanoString Technologies Inc. (NASDAQ:NSTG)
Pura Vida Investments’ Stake Value: $42.4M
Percentage of Pura Vida Investments’ 13F Portfolio: 1.44%
Number of Hedge Fund Holdings: 23
Based in Seattle, Washington, NanoString Technologies Inc. (NASDAQ:NSTG) is a publicly held biotechnology company that specializes in the development of translational research equipment. Founded in 2003, NanoString’s (NASDAQ:NSTG) nCounter technology is a variant on the DNA microarray. As of the first quarter of 2022, Kamen’s Pura Vida Investments owns more than 1.2 million shares which are worth around $42.4 million, with NanoString Technologies Inc. (NASDAQ:NSTG) making up for 1.44% of Kamen’s 13F investment portfolio. This is a result of Kamen strengthening his hold over the stock by 4%.
In Q1 2022, 23 hedge funds were long NanoString Technologies Inc. (NASDAQ:NSTG), having a cumulative stake of almost $371.9 million. Investor interest seems to have slightly risen compared to the previous quarter, where only 22 hedge funds were long the stock. As of the first quarter of 2022, Ken Griffin’s Citadel Investment Group is the largest stakeholder, owning more than a billion shares worth $110.8 million.
4. Inspire Medical Systems Inc. (NYSE:INSP)
Pura Vida Investments’ Stake Value: $52.2M
Percentage of Pura Vida Investments’ 13F Portfolio: 1.77%
Number of Hedge Fund Holdings: 30
Headquartered in Minneapolis, Minnesota, Inspire Medical Systems Inc. (NYSE:INSP) is a medical innovation company which produced the first and only FDA-approved sleep-apnea device which treats the primal cause of sleep apnea. Inspire Medical Systems Inc. (NYSE:INSP) was founded in 2007 and is parented by Medtronic (NYSE:MDT). As of the first quarter of 2022, Richard Driehaus’ Driehaus Capital is the largest shareholder in the stock, owning stakes of almost $81 million, a result of Driehaus increasing his hold over the company by 16%.
In their Q1 2022 investor letter, Headwaters Capital, an investment management firm, mentioned Inspire Medical Systems Inc. (NYSE:INSP). This is what they said:
“Inspire Medical (“INSP”) +12%. Inspire Medical sells an implantable neurostimulation device to treat sleep apnea (detailed discussion in Q4 ’20 letter). Inspire (NYSE:INSP) outperformed during the quarter as the company continues to add new implant centers at a faster pace than management initially expected. Additionally, given that Inspire’s (NYSE:INSP) devices are an alternative to CPAP treatment, the company is expected to benefit from a recall of Phillips Respironics’ CPAP devices, which is driving increased interest in the Inspire device.”
3. ViewRay Inc. (NASDAQ:VRAY)
Pura Vida Investments’ Stake Value: $53.2M
Percentage of Pura Vida Investments’ 13F Portfolio: 1.8%
Number of Hedge Fund Holdings: 26
Based out of Cleveland, Ohio, ViewRay Inc. (NASDAQ:VRAY) is a medical technology company which specializes in the production, manufacture and development of FDA-cleared and CE-marked radiation therapy equipment, namely the MRI-Guided Radiation Therapy System, for the effective treatment of cancer. ViewRay Inc. (NASDAQ:VRAY) went public in 2018 and as of the first quarter of 2022, Efrem Kamen’s Pura Vida Investments is the second-largest shareholder of the stock, owning more than 13.6 million shares worth around $53.2 million. A result of Kamen decreasing his hold over the stock by 4%, ViewRay Inc. (NASDAQ:VRAY) now only makes up for 1.8% of Pura Vida’s 13F portfolio.
Investor interest in ViewRay Inc. (NASDAQ:VRAY) seems have to slightly increased in the first quarter of 2022, with 26 hedge funds having stakes in the company, having a cumulative stake value of more than $203.5 million. In the previous quarter, only 23 hedge funds were long the stock, and had a stake worth $270.5 million in ViewRay Inc. (NASDAQ:VRAY). As of Q1 2022, Hudson Executive Capital is the largest shareholder in the stock, having a total stake of $61.7 million.
2. Establishment Labs Holdings Inc. (NASDAQ:ESTA)
Pura Vida Investments’ Stake Value: $64.9M
Percentage of Pura Vida Investments’ 13F Portfolio: 2.2%
Number of Hedge Fund Holdings: 17
Based in New York, Establishment Labs Holdings Inc. (NASDAQ:ESTA) is a multinational, high-tech medical equipment and aesthetics company which specializes in the design, development, manufacture and marketing of a diverse product portfolio, including advanced silicone-filled breast and body shaping implants. women’s health products and much more. Nantahala Capital Management is the largest stakeholder in Establishment Labs Holdings Inc. (NASDAQ:ESTA), owning more than 2.1 million shares valued at around $144.8 million. Pura Vida Investments is the second-largest shareholder in the company, owning 962,494 shares which award Kamen a stake of $64.9 million in Establishment Labs Holdings Inc. (NASDAQ:ESTA).
1. Cutera Inc. (NASDAQ:CUTR)
Pura Vida Investments’ Stake Value: $74.1M
Percentage of Pura Vida Investments’ 13F Portfolio: 2.51%
Number of Hedge Fund Holdings: 23
Based in Brisbane, California, Cutera Inc. (NASDAQ:CUTR) was founded in 1988 and is a leading global medical aesthetics device company which specializes in the design, development, manufacture, and marketing of medical aesthetics technologies. As of Q1 2022, Daniel Plants’ Voce Capital is the leading shareholder in the stock, owning more than 1.2 million shares which have been valued at $83.5 million. Efrem Kamen’s Pura Vida Investments is the third-largest shareholder in Cutera Inc. (NASDAQ:CUTR), owning almost 1.1 million shares which are worth more than $74.1 million.
