Sac Capital Advisors Reports New Stake in Momenta Pharmaceuticals, Inc. (MNTA)

Steven Cohen’s SAC Capital Advisors has reported adding Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) to its equity portfolio. SAC Capital Advisors currently holds around 2.9 million shares of the company; the stake amounts to 5.6% of the common shares outstanding.


SAC CAPITAL ADVISORS


Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) is a biotechnology company that specializes in detailed structural analysis of complex mixture drugs. Last month, the company posted its results for the fourth quarter and full year 2013. Revenue for the fourth quarter of 2013 was $12.8 million, compared to $12.7 million for the same period in 2012. For the quarter, the company reported a net loss of $0.59 per share, versus a net loss of $0.35 in 4Q12. The cash equivalents and marketable securities at the end of the year was $245.7 million, compared to $340.6 million in 2012.


Momenta also provided guidance for the fiscal year 2014, it expects total operating expenses, excluding stock-based compensation and net of collaborative revenues, to be in the range of $30 to $32 million per quarter. Net cash usage, excluding revenue from the potential launch of M356, is expected to be around $30 million per quarter.


Craig Wheeler, president at Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA), sold 2,109 shares last month and now holds 379,539 shares of the company.


Visium Asset Management, led by Jacob Gottlieb, is the largest shareholder of Momenta Pharmaceuticals of all the hedge funds we track. It holds 3.6 million shares, with a reported value of $64.0 million. Visium is followed by Rob Citrone’s Discovery Capital Management, which owns 1.9 million shares, worth $34.1 million.


SAC Capital is a diversified hedge fund that uses both fundamental and quantitative analysis-based approaches. Recently, SAC Capital Advisors boosted its stake in Gogo Inc (NASDAQ:GOGO) to 4.6 million shares from 132,000 shares held earlier. This week, the fund edged up its position in Walter Investment Management Corp (NYSE:WAC) to 1.9 million shares, from less than 1.2 million held previously. Last month, the fund upped its stake in ITT Educational Services, Inc. (NYSE:ESI) to 1.2 million shares from 10,953 shares held earlier. It also raised its stake in DeVry Education Group Inc (NYSE:DV) to 3.2 million shares from 27,391 shares held at the end of the fourth quarter of 2013.


Disclosure: none


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