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Athersys, Inc. (ATHX) and Egalet Corporation (EGLT) Activist Update

Healios K.k. has filed an SC 13D form with the Securities and Exchange Commission (SEC) disclosing ownership of 12,000,000 shares of Athersys, Inc. (NASDAQ:ATHX). This represents 8.7 percent ownership of the company. Athersys, Inc. has declared a standard industrial code (sic) of 2834 which is the “Pharmaceutical Preparations” industry.

Flynn James E has filed an SC 13G form with the Securities and Exchange Commission (SEC) disclosing ownership of 3,239,237 shares of Egalet Corporation (NASDAQ:EGLT). This represents 6.45 percent ownership of the company. Egalet Corporation has declared a standard industrial code (sic) of 2834 which is the “Pharmaceutical Preparations” 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.

Klondex Mines Ltd. (KLDX) – Hecla Mining Co/de/ has filed a new SC 13D, reporting a 26.30% ownership stake in Klondex Mines.

Star Tek, Inc. (SRT) – Csp Alpha Holdings Parent Pte Ltd has filed a new SC 13D, reporting a 29.90% ownership stake in Star Tek.

Athersys, Inc. (ATHX) – Healios K.k. has filed a new SC 13D, reporting a 8.70% ownership stake in Athersys.

Alder BioPharmaceuticals, Inc. (ALDR) – Redmile Group, LLC has filed a new SC 13D, reporting a 9.99% ownership stake in Alder BioPharmaceuticals. This is an increase of 4.06% from their previous filing.

ONE Group Hospitality, Inc. (STKS) – Argyle Street Management Ltd has filed a new SC 13D, reporting a 5.82% ownership stake in ONE Group Hospitality.

Amended Activist Investor Filings

DBV Technologies S.A. (DBVT) – Baker Brothers Advisors LP has filed an amended Schedule 13D/A, reporting a 16.10% ownership stake in DBV Technologies S.A.. This is an increase of 8.78% from their previous filing.

Concurrent Computer Corp. (CCUR) – Singer Julian D. has filed an amended Schedule 13D/A, reporting a 25.50% ownership stake in Concurrent Computer. This is an increase of 7.14% from their previous filing.

Vera Bradley, Inc. (VRA) – Barbara B. Baekgaard 2009 Grantor Retained Annuity Trust has filed an amended Schedule 13D/A, reporting a 13.90% ownership stake in Vera Bradley. This is a decrease of 19.65% from their previous filing.

Hamilton Lane INC (HLNE) – Hamilton Lane Inc has filed an amended Schedule 13D/A, reporting a 62.00% ownership stake in Hamilton Lane.

Westlake Chemical Partners LP (WLKP) – Harvest Fund Advisors LLC has filed an amended Schedule 13D/A, reporting a 9.00% ownership stake in Westlake Chemical Partners. This is a decrease of 10.00% from their previous filing.

Wheeler Real Estate Investment Trust, Inc. (WHLR) – Westport Capital Partners LLC has filed an amended Schedule 13D/A, reporting a 9.50% ownership stake in Wheeler Real Estate Investment Trust. This is an increase of 2.15% from their previous filing.

Marcus & Millichap, Inc. (MMI) – Marcus George M has filed an amended Schedule 13D/A, reporting a 47.60% ownership stake in Marcus & Millichap. This is a decrease of 4.61% from their previous filing.

Goodrich Petroleum Corporation (GDP) – Franklin Resources Inc has filed an amended Schedule 13D/A, reporting a 23.20% ownership stake in Goodrich Petroleum. This is a decrease of 26.58% from their previous filing.

Sears Holdings Corp. (SHLD) – Esl Partners, L.p. has filed an amended Schedule 13D/A, reporting a 73.30% ownership stake in Sears Holdings. This is an increase of 28.60% from their previous filing.

Intellia Therapeutics, Inc. (NTLA) – Novartis Institutes for BioMedical Research, Inc. has filed an amended Schedule 13D/A, reporting a 10.10% ownership stake in Intellia Therapeutics. This is a decrease of 11.71% from their previous filing.

Crystal Rock Holdings, Ltd. (CRVP) – Baker Peter K has filed an amended Schedule 13D/A, reporting a 0.00% ownership stake in Crystal Rock Holdings.

Forest City Realty Trust, Inc. (FCE.A) – Scopia Capital Management Lp has filed an amended Schedule 13D/A, reporting a 8.30% ownership stake in Forest City Realty Trust. This is a decrease of 15.31% from their previous filing.

Wynn Resorts Ltd. (WYNN) – Wynn Stephen A has filed an amended Schedule 13D/A, reporting a 0.00% ownership stake in Wynn Resorts. This is a decrease of 100.00% 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.

Arcus Biosciences, Inc. (RCUS) – Foresite Capital Fund III, L.P. has filed a new SC 13G, reporting a 9.60% ownership stake in Arcus Biosciences.

Parker Drilling Co. (PKD) – Saba Capital Management, L.P. has filed a new SC 13G, reporting a 5.71% ownership stake in Parker Drilling Co..

Newell Brands Inc. (NWL) – Glenview Capital Management, Llc has filed a new SC 13G, reporting a 5.56% ownership stake in Newell Brands.

CAI International, Inc. (CAI) – Park West Asset Management LLC has filed a new SC 13G, reporting a 7.10% ownership stake in CAI International. This is an increase of 716.09% from their previous filing.

Bridgewater Bancshares, Inc. (BWB) – EJF Capital LLC has filed a new SC 13G, reporting a 5.40% ownership stake in Bridgewater Bancshares.

Egalet Corporation (EGLT) – Flynn James E has filed a new SC 13G, reporting a 6.45% ownership stake in Egalet.

Tanzanian Royalty Exploration Corp. (TRX) – Crede Cg Iii, Ltd. has filed a new SC 13G, reporting a 9.99% ownership stake in Tanzanian Royalty Exploration.

Hersha Hospitality Trust (HT) – Fosun International Ltd has filed a new SC 13G, reporting a 5.11% ownership stake in Hersha Hospitality Trust.

Amended Passive Investor Filings

Geopark Ltd. (GPRK) – International Finance Corp has filed an amended Schedule 13D/A, reporting a 4.99% ownership stake in Geopark. This is a decrease of 12.46% from their previous filing.

Seritage Growth Properties (SRG) – Fairholme Capital Management Llc has filed an amended Schedule 13D/A, reporting a 4.90% ownership stake in Seritage Growth Properties. This is a decrease of 54.63% from their previous filing.

Tanzanian Royalty Exploration Corp. (TRX) – Crede Cg Iii, Ltd. has filed an amended Schedule 13D/A, reporting a 4.87% ownership stake in Tanzanian Royalty Exploration.

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