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% |
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Page 1 of 6 – SEC Filing
Page 2 of 6 – SEC Filing
| CUSIP No. | 921659108 | 13G | Page 2 of 12 |
| 1. | NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Deerfield Mgmt, L.P. | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* | (a) o (b) ý | |
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 0 | |
| 6. | SHARED VOTING POWER 3,435,576 (1) | ||
| 7. | SOLE DISPOSITIVE POWER 0 | ||
| 8. | SHARED DISPOSITIVE POWER 3,435,576 (1) | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,435,576 (1) | ||
| 10. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | o | |
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.94% | ||
| 12. | TYPE OF REPORTING PERSON* PN | ||
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Page 3 of 6 – SEC Filing
| CUSIP No. | 921659108 | 13G | Page 3 of 12 |
| 1. | NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Deerfield Management Company, L.P. | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* | (a) o (b) ý | |
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 0 | |
| 6. | SHARED VOTING POWER 3,435,576 (2) | ||
| 7. | SOLE DISPOSITIVE POWER 0 | ||
| 8. | SHARED DISPOSITIVE POWER 3,435,576 (2) | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,435,576 (2) | ||
| 10. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | o | |
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.94% | ||
| 12. | TYPE OF REPORTING PERSON* PN | ||
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Page 4 of 6 – SEC Filing
| CUSIP No. | 921659108 | 13G | Page 4 of 12 |
| 1. | NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Deerfield Partners, L.P. | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* | (a) o (b) ý | |
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 0 | |
| 6. | SHARED VOTING POWER 1,283,849 | ||
| 7. | SOLE DISPOSITIVE POWER 0 | ||
| 8. | SHARED DISPOSITIVE POWER 1,283,849 | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,283,849 | ||
| 10. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | o | |
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 2.97% | ||
| 12. | TYPE OF REPORTING PERSON* PN | ||
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Page 5 of 6 – SEC Filing
| CUSIP No. | 921659108 | 13G | Page 5 of 12 |
| 1. | NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Deerfield Special Situations Fund, L.P. | ||
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* | (a) o (b) ý | |
| 3. | SEC USE ONLY | ||
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | ||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5. | SOLE VOTING POWER 0 | |
| 6. | SHARED VOTING POWER 517,737 | ||
| 7. | SOLE DISPOSITIVE POWER 0 | ||
| 8. | SHARED DISPOSITIVE POWER 517,737 | ||
| 9. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 517,737 | ||
| 10. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | o | |
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 1.20% | ||
| 12. | TYPE OF REPORTING PERSON* PN | ||
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Page 6 of 6 – SEC Filing
| CUSIP No. | 921659108 | 13G | Page 6 of 12 |
