Investing

Sarissa Capital Calls for Amarin Special Meeting to Vote on Its Nominees

Fintel Staff

Published: January 12, 2023 10:31 pm

Fintel reports that Sarissa Capital Management LP has filed a 13D/A form with the SEC disclosing ownership of 25,210,000 Amarin Corporation plc (ADR) (US:AMRN). This represents 6.24% of the company.

Sarissa Capital Management said in its filing that it sent a requisition notice to Amarin Corporation plc to call a general shareholder meeting and to appoint the investor’s nominees to the board of directors. The investor, based in New York City and Stamford, Connecticut, owns 24,000,000 shares and 5.95% of the company, an increase in shares of 5.04% and an increase in total ownership of 0.29%. In the filing, Sarissa called to dismiss current director Per Wold-Olsen and to appoint the investor’s nominees, Patrice Bonfiglio, Paul Cohen, M.D., Mark DiPaolo Esq., Keith Horn, Odysseas Kostas M.D., Louis Sterling III and Diane Sullivan to the board of directors.

Sarissa is a healthcare-focused investment firm founded in 2013 by Alex Denner. The firm focuses on investing in public and private companies and providing strategic advice to health care companies. Sarissa Capital has offices in New York City and Stamford, Connecticut. It has invested in numerous health care companies, including Allergan, Avadel Pharmaceuticals, and Akcea Therapeutics. The firm has also been involved in several high-profile activist campaigns, including an effort to restructure Allergan and a campaign to increase the value of Akcea Therapeutics.

Amarin is a rapidly growing, innovative pharmaceutical company leading a new paradigm in cardiovascular disease management. From its scientific research foundation to its focus on clinical trials and its commercial expansion, it is evolving and growing. In 2009, Amarin had fewer than twenty employees. Today, with offices in Bridgewater, New Jersey, in the United States, Dublin in Ireland, and Zug in Switzerland, Amarin has approximately 1,000 employees, commercial partners, and suppliers worldwide. It is committed to rethinking cardiovascular risk through advancing scientific understanding of the impact on society of significant residual risk beyond traditional therapies, such as statins for cholesterol management.

What are other large shareholders doing?

Eversept Partners, LP holds 11,962,744 shares representing 2.96% ownership of the company. In its prior filing, the firm reported owning 13,284,894 shares, representing a decrease of 11.05%. The firm decreased its portfolio allocation in AMRN by 17.62% over the last quarter.

Woodline Partners LP holds 8,776,156 shares representing 2.17% ownership of the company. In its prior filing, the firm reported owning 0 shares, representing an increase of 100.00%.

Stonepine Capital Management, LLC holds 8,547,965 shares representing 2.12% ownership of the company. In its prior filing, the firm reported owning 8,853,763 shares, representing a decrease of 3.58%. The firm decreased its portfolio allocation in AMRN by 31.76% over the last quarter.

Kynam Capital Management, LP holds 6,720,148 shares representing 1.66% ownership of the company. In its prior filing, the firm reported owning 4,009,893 shares, representing an increase of 40.33%. The firm increased its portfolio allocation in AMRN by 1.16% over the last quarter.

What is the overall Fund Sentiment?

There are 232 funds or institutions reporting positions in Amarin Corporation plc (ADR). This is a decrease of 22 owner(s) or 8.66%.

Average portfolio weight of all funds dedicated to Amarin Corporation plc (ADR) is 0.1283%, an increase of 0.1104%. Total shares owned by institutions decreased in the last three months by 6.65% to 140,156,875 shares.

Fintel’s Fund Sentiment Score is a quantitative model that ranks companies from zero to 100 based on Fund Sentiment. Fund Sentiment is important because it tells you if funds are buying or selling – and, in particular how the company ranks compared to other companies in the investing universe.

Click to see the Fintel Fund Sentiment Score for AMRN / Amarin Corporation plc (ADR).

This article originally appeared on Fintel