Ra Capital Management Considerably Surges Stake in Dyax Corp. (DYAX)


Peter Kolchinsky‘s Ra Capital Management considerably boosted its stake in Dyax Corp. (NASDAQ:DYAX), a recent 13G filing with the SEC shows. The updated position amounts to slightly more than 9.00 million shares of the company, up from the previously owned 5.76 million. The fund now owns a stake of 6.60% of Dyax Corp’s aggregate common stock outstanding,


Incorporated on May 26, 1989, Dyax Corp. (NASDAQ:DYAX) is an integrated US biopharmaceutical company which focuses on the discovery, development and commercialization of novel biotherapeutics for conditions such as ACE inhibitor-induced angioedema, plasma kallikrein mediated and hereditary angioedema, and angioedema of unknown origin. Generating steadily shrinking losses in the past 3 years – $-0.35, $-0.30, and $-0.26 per share in 2011, 2012, 2013 respectively, Dyax is expected to generate losses of $0.20 per share this year, continuing its recovery trend. Setting a target price which is nearly double the company’s current price of around $6.60 per share, analysts suggest that investors buy its shares.

James E. Flynn‘s Deerfield Management and Israel Englander‘s Millennium Management are two other large shareholders of Dyax Corp. (NASDAQ:DYAX), the former holding 3.36 million shares of the company, while the latter almost 3.23 million.

Holding a Ph.D. in Virology from Harvard University, Peter Kolchinsky invests primarily in companies with promising drugs and technologies. Ra Capital Management’s $858.50 million worth equity portfolio is mostly focused on the Healthcare Sector, with just around 2.50% of its value invested in Services. Peter Kolchinsky is also bullish on the recently public Versartis Inc (NASDAQ:VSAR), in which the fund revealed an increased stake of 1.40 million shares earlier in April. Enanta Pharmaceuticals Inc (NASDAQ:ENTA) is one of Kolchinsky’s most recent stock picks, the fund disclosing a new position of 1.54 million shares – 8.00% of the company’s total common stock. Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) represents the largest share (around 9.00%) in Ra Capital Management’s equity portfolio, the fund holding 23.37 million shares of the company.

Disclosure: none