SAC Capital Buys More Amarin (AMRN) ~ market folly

Monday, April 16, 2012

SAC Capital Buys More Amarin (AMRN)

Steve Cohen's hedge fund SAC Capital filed a 13G with the SEC regarding its position in Amarin (AMRN). Per the filing, the firm now owns 5.3% of the company with 7,216,209 shares.

This marks a 33% increase in their position size since the last disclosure. This is the second subsequent purchase of AMRN shares by the hedge fund in the past month or so. The latest disclosure was made due to trading activity on April 3rd.

Per Google Finance, Amarin is "a clinical-stage biopharmaceutical company focused on developing improved treatments for cardiovascular disease. The Company’s development programs capitalize in the field of lipid science and the therapeutic benefits of essential fatty acids in cardiovascular disease. It is focusing its efforts on its candidate, AMR101, a prescription grade Omega-3 fatty acid, comprising not less than 96% ultra pure ethyl ester of eicosapentaenoic acid (ethyl-EPA)."

We've also posted other recent portfolio activity from SAC Capital.

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