The New Kevin Kotler’s Broadfin Capital Holding in Durect Corp
Broadfin Capital filed with the SEC SC 13G form for Durect Corp. The form can be accessed here: 000091957416016821. As reported in Kevin Kotler’s Broadfin Capital’s form, the filler as of late owns 6.14% or 8,506,229 shares of the Health Care–company.
Durect Corp stake is a new one for the for the hedge fund and it was filed because of activity on November 15, 2016. We feel this shows Kevin Kotler’s Broadfin Capital’s positive view for the stock. For a hedge fund managing $1.26 billion in assets and having 10+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.
The hedge fund is active investor in the Health Care sector. In the manager’s last 13-F, we saw 12% of Kevin Kotler’s Broadfin Capital’s US equities portfolio is in this sector.
Durect Corp Institutional Sentiment
Latest Security and Exchange filings show 89 investors own Durect Corp. The institutional ownership in Q3 2015 is high, at 45.71% of the outstanding shares. This is increased by 4406662 the total institutional shares. 63350986 were the shares owned by these institutional investors. In total 12 funds opened new Durect Corp stakes, 19 increased stakes. There were 8 that closed positions and 36 reduced them.
Bruce & Co Inc is an institutional investor bullish on Durect Corp, owning 763609 shares as of Q3 2015 for 0.38% of its portfolio. Stephen Dubois Camber Capital Management Llc owns 6000000 shares or 1.00% of its portfolio. MA Ironwood Investment Management Llc have 1.37% of their stock portfolio for 1913769 shares. Further, Gagnon Securities Llc reported stake worth 0.78% of its US stock portfolio. The NY 683 Capital Management Llc owns 4100000 shares. Durect Corp is 1.18% of the manager’s US portfolio.
Durect Corporation is a biopharmaceutical company with research and development programs. The Company’s products candidates include DUR-928, oral for metabolic/lipid disorders, and DUR-928, injectable for acute organ injuries. Its other product candidates include POSIMIR (controlled release injection of bupivacaine), REMOXY (oral controlled release oxycodone), ORADUR-ADHD, ELADUR (controlled release injection of bupivicane), Relday (risperidone), ORADUR-based opioid (hydromorphone) and SABER-based ophthalmic. The Company’s ALZET product line consists of miniature, implantable osmotic pumps and accessories used for experimental research in mice, rats and other laboratory animals. The Company also manufactures and sells osmotic pumps used in laboratory research and design; and develops and manufactures a range of standard and custom biodegradable polymers and excipients for pharmaceutical and medical device clients for use as raw materials in their products.
SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.
Kevin Kotler’s Broadfin Capital website.
Insitutional Activity: The institutional sentiment decreased to 1.2 in Q2 2016. Its down 0.50, from 1.7 in 2016Q1. The ratio is negative, as 8 funds sold all DURECT Corporation shares owned while 19 reduced positions. 9 funds bought stakes while 37 increased positions. They now own 67.65 million shares or 18.85% more from 56.92 million shares in 2016Q1.
Springbok Capital Mgmt Limited Liability Corp owns 36,700 shares or 0.01% of their US portfolio. Stoneridge Invest Prtnrs Limited Liability Company holds 146,095 shares or 0.03% of its portfolio. Prudential reported 13,300 shares or 0% of all its holdings. Cornerstone Cap Management Llc has 79,600 shares for 0% of their US portfolio. Accredited Invsts holds 0.01% of its portfolio in DURECT Corporation (NASDAQ:DRRX) for 30,000 shares. Stifel Financial owns 11,335 shares or 0% of their US portfolio. Walleye Trading Limited Company last reported 0% of its portfolio in the stock. Panagora Asset Mngmt Inc has 322,398 shares for 0% of their US portfolio. Geode Mngmt holds 0% or 755,526 shares in its portfolio. Rhumbline Advisers holds 0% or 125,321 shares in its portfolio. Guggenheim Capital Lc has 0% invested in the company for 26,010 shares. State Common Retirement Fund has 172,582 shares for 0% of their US portfolio. Amalgamated Fincl Bank holds 0% of its portfolio in DURECT Corporation (NASDAQ:DRRX) for 13,338 shares. The North Carolina-based Bankshares Of America De has invested 0% in DURECT Corporation (NASDAQ:DRRX). Morgan Stanley holds 3,840 shares or 0% of its portfolio.
Insider Transactions: Since September 26, 2016, the stock had 2 insider purchases, and 0 insider sales for $2.99 million net activity. The insider 21 APRIL FUND – LTD. bought $2.88 million. 95,000 shares were bought by First Eagle Investment Management – LLC, worth $110,298 on Thursday, November 3.
It is down 1.46% since April 19, 2016 and is uptrending. It has underperformed by 2.40% the S&P500.
Durect Corporation is a biopharmaceutical firm with research and development programs. The company has a market cap of $191.54 million. The Company’s products candidates include DUR-928, oral for metabolic/lipid disorders, and DUR-928, injectable for acute organ injuries. It currently has negative earnings. The Company’s other product candidates include POSIMIR , REMOXY (oral controlled release oxycodone), ORADUR-ADHD, ELADUR (controlled release injection of bupivicane), Relday (risperidone), ORADUR opioid (hydromorphone) and SABER ophthalmic.
More notable recent DURECT Corporation (NASDAQ:DRRX) news were published by: Seekingalpha.com which released: “Durect Corporation Seeking More Collaborations” on November 15, 2016, also Fool.com with their article: “Here’s Why DURECT Corporation Is Tanking Today” published on September 26, 2016, Prnewswire.com published: “DURECT Corporation Announces Third Quarter 2016 Financial Results and Update …” on October 31, 2016. More interesting news about DURECT Corporation (NASDAQ:DRRX) were released by: Prnewswire.com and their article: “DURECT Corporation Announces Second Quarter 2016 Financial Results and Update …” published on August 01, 2016 as well as Prnewswire.com‘s news article titled: “DURECT Corporation Invites You to Join its Third Quarter 2016 Earnings …” with publication date: October 21, 2016.
According to Zacks Investment Research, “Durect Corp. is pioneering the treatment of chronic diseases and conditions by developing and commercializing pharmaceutical systems to deliver the right drug to the right place in the right amount at the right time. Its pharmaceutical systems combine engineering innovations and delivery technology from the medical device and drug delivery industries with its proprietary pharmaceutical and biotechnology drug formulations.”
DRRX Company Profile
Durect Corporation, incorporated on February 6, 1998, is a biopharmaceutical firm with research and development programs. The Company’s research and development programs fall into two categories: new chemical entities derived from its Epigenomic Regulator Program, in which the Company attempts to discover and develop molecules, which have not previously been approved and marketed as therapeutics, and Drug Delivery Programs, in which the Company applies its formulation expertise and technologies to active pharmaceutical ingredients whose safety and efficacy have previously been established but which the Company focuses to improve through a new formulation. The Company’s products candidates include DUR-928, oral for metabolic/lipid disorders, and DUR-928, injectable for acute organ injuries. The Company’s other product candidates include POSIMIR (controlled release injection of bupivacaine), REMOXY (oral controlled release oxycodone), ORADUR-ADHD, ELADUR (controlled release injection of bupivicane), Relday (risperidone), ORADUR opioid (hydromorphone) and SABER ophthalmic.
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