Jeremy Green‘s Redmile Group has significantly surged its position in Amicus Therapeutics, Inc. (NASDAQ:FOLD), a new filing with the SEC revealed. Redmile currently holds over 8.6 million shares of the company, the passive stake amassing 15.14% of the company’s common stock. The position has been increased from around 2.5 million reported by Redmile in its latest 13F.
The stock of Amicus Therapeutics, Inc. (NASDAQ:FOLD), has been down by 9% since the beginning of the year. Recently the company disclosed that it received the global rights to develop and sell the investigational pharmacological chaperone migalastat HCl, under an agreement with GlaxoSmithKline plc (ADR) (NYSE:GSK). Also, under the terms of the same agreement, GSK will invest $3.0 million via an equity investment.
In the third quarter, the company reported revenue of $39,000. Amicus Therapeutics, Inc. (NASDAQ:FOLD) posted a net loss of $14.6 million, equal to $0.29 per share, versus a loss of $16.3 million in the same period of last year.
Among large shareholders of the company, we can mention William Leland Edwards’ Palo Alto Investors, which in its last 13F reported holding 4.6 million shares of Amicus Therapeutics, Inc. (NASDAQ:FOLD). The value of the stake amounts to $10.7 million. Sound Energy Partners, managed by Anthony Giammalva reported ownership of 595,200 shares, worth $1.4 million, and Chuck Royce’s Royce & Associates owns 515,700 shares, with a total value of $1.2 million.
Redmile Group reported, in its latest 13F, holding 271,500 shares of Actavis plc (NYSE:ACT), the value of the position amounting to $39.1 million, which is the largest in its equity portfolio. In Amgen, Inc. (NASDAQ:AMGN), Redmile owns a $38.7 million stake, which amasses 345,700 shares. The third-largest position in the fund’s equity portfolio, is St. Jude Medical, Inc. (NYSE:STJ), in which Redmile reported ownership of 658,000 shares, worth $35.3 million.
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