Bridger Capital Starts New TrovaGene Stake

Roberto Mignone's hedge fund firm Bridger Capital filed a 13G and Form 3 with the SEC regarding shares of TrovaGene (TROV).  Per the filing, Bridger has disclosed an 11.9% ownership stake in TROV with 2,142,857 shares.

This is a brand new position for the hedge fund and the filing was required due to portfolio activity on July 30th. 

The company recently closed a registered direct offering of $15 million in common stock at $7 per share to an 'unnamed institutional investor.'  Doing the math on Bridger's share count above, it appears as though Bridger is that investor.

Per Google Finance, TrovaGene is "a development-stage molecular diagnostic company that focuses on the development and marketing of urine-based nucleic acid tests for patient/disease screening and monitoring. The Company's novel tests predominantly use transrenal DNA (Tr-DNA) and transrenal RNA (Tr-RNA). The Company's technology is used to all transrenal nucleic acids (Tr-NA). The Company’s urine-based test addresses market needs, such as women’s healthcare-fetal medicine-down syndrome, infectious diseases, cancer testing, transplantation, drug development and monitoring of therapeutic outcomes, ultra-sensitive analytical and detection system, technologies for the collection, shipment and storage of urine specimens, and transrenal nucleic acid extraction, and instrumentation/system platform."