With JP Morgan out of the way, it’s time for the biotechnology space to return to normality. Well, normality, that is, as far as the biotech space can be normal. There remains a host of catalysts and data drops on the calendar, and these have the potential to drive volume. Here’s the latest acquisition ahead of these catalysts hitting press.
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) reported that Palo Alto Investors has picked up 4,203,270 of common stock as of 2017-01-13.
The acquisition brings the aggregate amount owned by Palo Alto Investors to a total of 4,203,270 representing a 9.56% stake in the company.
For those not familiar with the company, Vanda Pharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of pharmaceutical products for the treatment of central nervous system (CNS) disorders. The Company’s product portfolio includes HETLIOZ (tasimelteon), Fanapt (iloperidone), Tradipitant (VLY-686), Trichostatin A and AQW051. The Company offers HETLIOZ (tasimelteon) for the treatment of Non-24-Hour Sleep-Wake Disorder (Non-24). The Company offers Fanapt (iloperidone) for the treatment of schizophrenia. Additionally, its distribution partners launched Fanapt in Israel and Mexico. Tradipitant (VLY-686) is a small molecule neurokinin-1 receptor (NK-1R) antagonist, which is in clinical development for the treatment of chronic pruritus in atopic dermatitis.
A glance at Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)’s key stats reveals a current market capitalization of 584.08 million based on 43.95 million shares outstanding and a price at last close of $14.05 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-12-16, Flynn picked up 3,239 at a purchase price of $8.97. This brings their total holding to 1,103,617 as of the date of the filing.
On the sell side, the most recent transaction saw Baroldi unload 16,300 shares at a sale price of $15.51. This brings their total holding to 54,365.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) as things move forward to see if its progress aligns with these transactions.
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