While Amarin celebrated, investors dumped shares
December brought vindication for Amarin, as the FDA agreed to expand the indication for Vascepa, the company’s treatment for cardiovascular disease. But while the stock price rose, institutional investors were selling, a sign of market skepticism for the one-product company.
As STAT’s Adam Feuerstein reports, the number of Amarin shares owned by institutional investment funds dropped 15% in the fourth quarter, according to filings with the SEC. Looking at hedge funds only, Amarin ownership fell 24% in the same period.
It could simply be a matter of taking profits on a hot stock — Amarin rose 41% during the fourth quarter. But it could also be a vote of no confidence, implying Amarin won’t be able to turn that FDA decision into blockbuster sales or, perhaps more relevant, a high-dollar sale to a larger company.
Read more.
As STAT’s Adam Feuerstein reports, the number of Amarin shares owned by institutional investment funds dropped 15% in the fourth quarter, according to filings with the SEC. Looking at hedge funds only, Amarin ownership fell 24% in the same period.
It could simply be a matter of taking profits on a hot stock — Amarin rose 41% during the fourth quarter. But it could also be a vote of no confidence, implying Amarin won’t be able to turn that FDA decision into blockbuster sales or, perhaps more relevant, a high-dollar sale to a larger company.
Read more.
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