Lynn Seely, Chief Medical Officer at Medivation Inc. (NASDAQ:MDVN), disposed of 12,500 shares of Common Stock, directly, for a weighted average price of $84.01 per share yesterday. The insider had already unloaded 13,000 shares of Common Stock on Friday, for prices ranging between $80.77 and $83.90 per share and in addition to this, Seely exercised her use of stock options. This is one of many stock sales to be completed by the CMO this quarter, as she sold 12,000 shares of Common Stock for a weighted average price of $79.02 per share at the beginning of July, amongst others.
Although Seely has been the only active insider at Medivation this quarter, Q1 showed lots of movement amongst hedge funds. For one, Arthur B Cohen and Joseph Healey’s Healthcor Management Lp entered a new shareholder position by acquiring 1 million company shares for an estimated value of $64.3 million. Furthermore, Phill Gross and Robert Atchinson’s Adage Capital Management increased its stakes in the firm by 17% last quarter and now owns over 4.66 million shares, worth approximately $300 million.
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