Stocks

Verastem (VSTM) gets new 5.7% activist investor; Sorrento Therapeutics (SRNE) gets new 5.9% investor

Biotechnology Value Fund L P has filed an SC 13G form with the Securities and Exchange Commission (SEC) disclosing ownership of 2,737,000 shares of Verastem, Inc. (NASDAQ:VSTM). This represents 5.7 percent ownership of the company. Verastem, Inc. has declared a standard industrial code (sic) of 2834 which is the “Pharmaceutical Preparations” industry.

Ji Henry has filed an SC 13G form with the Securities and Exchange Commission (SEC) disclosing ownership of 4,923,638 shares of Sorrento Therapeutics, Inc. (NASDAQ:SRNE). This represents 5.9 percent ownership of the company. Sorrento Therapeutics, Inc. has declared a standard industrial code (sic) of 8731 which is the “Commercial Physical and Biological Research” industry.

When a person or group of persons acquires beneficial ownership of more than 5% of a company’s equity securities, they are required to file a Schedule 13D or 13G with the SEC. If these groups intend to influence management into changing the business strategy, they are considered “activist” investors. There is considerable academic research that suggest activist investors contribute to excess returns in equities in the subsequent twelve months after the event.

Investors that acquire 10% or more of a company’s shares, or that gain a board seat, are considered insiders by the SEC and are subject to stricter insider trading filing requirements.

New Activist Investor Filings

Investors that acquire more than 5% of the shares of a company and intend to influence management are considered activist investors and must file a 13D.

National CineMedia, Inc. (NCMI) – Standard General L.P. has filed a new SC 13D, reporting a 16.90% ownership stake in National CineMedia. This is an increase of 4.32% from their previous filing.

Genocea Biosciences, Inc. (GNCA) – New Enterprise Associates 16, L.p. has filed a new SC 13D, reporting a 39.70% ownership stake in Genocea Biosciences.

Regional Health Properties, Inc. (RHE) – Frischer Charles has filed a new SC 13D, reporting a 8.61% ownership stake in Regional Health Properties.

Resolute Energy Corporation (REN) – Monarch Alternative Capital LP has filed a new SC 13D, reporting a 9.21% ownership stake in Resolute Energy.

Amended Activist Investor Filings

Stewart Information Services Corp. (STC) – Starboard Value LP has filed an amended Schedule 13D/A, reporting a 9.70% ownership stake in Stewart Information Services. This is a decrease of 2.02% from their previous filing.

Mirna Therapeutics, Inc. (MIRN) – Orbimed Advisors Llc has filed an amended Schedule 13D/A, reporting a 9.48% ownership stake in Mirna Therapeutics. This is an increase of 17.33% from their previous filing.

Tallgrass Energy GP, LP (TEGP) – Harvest Fund Advisors LLC has filed an amended Schedule 13D/A, reporting a 7.30% ownership stake in Tallgrass Energy GP. This is an increase of 17.74% from their previous filing.

NGL Energy Partners LP (NGL) – Harvest Fund Advisors LLC has filed an amended Schedule 13D/A, reporting a 7.30% ownership stake in NGL Energy Partners. This is an increase of 23.73% from their previous filing.

Siebert Financial Corp. (SIEB) – Kennedy Cabot Acquisition, LLC has filed an amended Schedule 13D/A, reporting a 80.20% ownership stake in Siebert Financial. This is a decrease of 3.14% from their previous filing.

Castlight Health, Inc. (CSLT) – Sap Se has filed an amended Schedule 13D/A, reporting a 4.80% ownership stake in Castlight Health. This is a decrease of 48.39% from their previous filing.

Boot Barn Holdings, Inc. (BOOT) – FS Capital Partners VI, LLC has filed an amended Schedule 13D/A, reporting a 25.89% ownership stake in Boot Barn Holdings. This is a decrease of 48.89% from their previous filing.

Finjan Holdings, Inc. (FNJN) – Bcpi I L P has filed an amended Schedule 13D/A, reporting a 12.20% ownership stake in Finjan Holdings. This is a decrease of 10.29% from their previous filing.

SteadyMed Ltd. (STDY) – Orbimed Advisors Llc has filed an amended Schedule 13D/A, reporting a 13.90% ownership stake in SteadyMed. This is a decrease of 4.79% from their previous filing.

ViewRay, Inc. (VRAY) – Orbimed Advisors Llc has filed an amended Schedule 13D/A, reporting a 14.52% ownership stake in ViewRay. This is a decrease of 0.14% from their previous filing.

Selecta Biosciences, Inc. (SELB) – Orbimed Advisors Llc has filed an amended Schedule 13D/A, reporting a 8.28% ownership stake in Selecta Biosciences. This is a decrease of 1.19% from their previous filing.

Adaptimmune Therapeutics plc (ADAP) – Orbimed Advisors Llc has filed an amended Schedule 13D/A, reporting a 6.56% ownership stake in Adaptimmune Therapeutics. This is a decrease of 0.61% from their previous filing.

New Passive Investor Filings

Investors that acquire more than 5% of the shares of a company but have no intention of influencing management are considered passive investors and must file a 13G.

Verastem, Inc. (VSTM) – Biotechnology Value Fund L P has filed a new SC 13G, reporting a 5.70% ownership stake in Verastem.

Genocea Biosciences, Inc. (GNCA) – Vivo Opportunity, Llc has filed a new SC 13G, reporting a 9.99% ownership stake in Genocea Biosciences.

Karyopharm Therapeutics Inc. (KPTI) – Ridgeback Capital Investments L.P. has filed a new SC 13G, reporting a 5.50% ownership stake in Karyopharm Therapeutics.

Deciphera Pharmaceuticals, Inc. (DCPH) – Brightstar Associates Llc has filed a new SC 13G, reporting a new ownership stake in Deciphera Pharmaceuticals.

TC Pipelines, LP (TCP) – First Trust Portfolios Lp has filed a new SC 13G, reporting a 5.78% ownership stake in TC Pipelines.

PTC Therapeutics, Inc. (PTCT) – Boxer Capital, LLC has filed a new SC 13G, reporting a 6.00% ownership stake in PTC Therapeutics.

Commercial Vehicle Group, Inc. (CVGI) – Siemer Arnold B has filed a new SC 13G, reporting a 6.86% ownership stake in Commercial Vehicle Group. This is a decrease of 57.73% from their previous filing.

Aduro Biotech, Inc. (ADRO) – Harvard Management Co Inc has filed a new SC 13G, reporting a 5.40% ownership stake in Aduro Biotech.

Dixie Group, Inc (DXYN) – Kopion Asset Management, Llc has filed a new SC 13G, reporting a 5.30% ownership stake in Dixie Group.

TPG RE Finance Trust, Inc. (TRTX) – China Investment Corp has filed a new SC 13G, reporting a 15.75% ownership stake in TPG RE Finance Trust.

Recon Technology, Ltd. (RCON) – Empery Asset Management, LP has filed a new SC 13G, reporting a 6.55% ownership stake in Recon Technology.

Citius Pharmaceuticals Inc. (CTXR) – Drill Craig A has filed a new SC 13G, reporting a 8.70% ownership stake in Citius Pharmaceuticals.

Histogenics Corporation (HSGX) – Perceptive Advisors Llc has filed a new SC 13G, reporting a 8.80% ownership stake in Histogenics.

Sorrento Therapeutics, Inc. (SRNE) – Ji Henry has filed a new SC 13G, reporting a 5.90% ownership stake in Sorrento Therapeutics.

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