Tiger Management Increases T2 Biosystems Stake, Reduces Enzymotec Stake ~ market folly

Monday, July 11, 2016

Tiger Management Increases T2 Biosystems Stake, Reduces Enzymotec Stake

Julian Robertson's hedge fund firm Tiger Management has recently submitted two filings to the SEC.

Tiger Files 13G on T2 Biosystems

First, Tiger Management has filed a 13G on T2 Biosystems (TTOO).  Per the filing, Tiger now owns 5.17% of the company with over 1.25 million shares.

This is up from the 552,255 shares they owned at the end of the first quarter.  The filing was made due to activity on June 29th.

To see the rest of Tiger Management's portfolio, head to the latest issue of our Hedge Fund Wisdom newsletter.

Per Google FInance, T2 Biosystems is an "in vitro diagnostics company engaged in developing a technology platform offering an alternative to diagnostic methodologies. The Company's T2 Magnetic Resonance platform (T2MR) enables detection of pathogens, biomarkers and other abnormalities in a range of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL). The Company's initial development efforts target sepsis, hemostasis and Lyme disease. T2MR is a miniaturized, magnetic resonance-based approach that measures how water molecules react in the presence of magnetic fields. Its platform detects a range of targets, including molecular targets, such as deoxyribonucleic acid (DNA), immunodiagnostics, such as proteins, and a range of hemostasis measurements. The Company offers T2Dx Instrument (T2Dx) and the T2Candida Panel."

Tiger Reduces Enzymotec Position

Secondly, in a separate 13G filed with the SEC, the hedge fund firm also shows a 2.5% stake in Enzymotec (ENZY) with 577,407 shares. 

This is down from the 1.14 million shares they owned at the end of the first quarter.  The filing was made due to activity on July 1st.

Per Google Finance, Enzymotec is "a nutritional ingredients and medical foods company. The Company's technologies, research expertise and clinical validation process enables it to develop solutions across a range of products. The Company operates in two segments: Nutrition segment and VAYA Pharma segment. Both of the Company's segments offer a range of products that leverage its lipid-related offerings. Its product suite addresses the entire human life-cycle, from infancy to old age, and comprises ingredients in products ranging from infant formula to nutritional supplements, as well as branded medical foods, sold only under a doctor's supervision. It markets its product portfolio to established global consumer companies and physicians and target large and growing consumer health and wellness markets. The Company's clinically-validated products include bio-functional lipid-based compounds designed to address dietary needs, medical disorders and common diseases."

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