DURHAM — A large investor in drug company Dova Pharmaceuticals Inc. added to its stake in the Durham-based company, according to a filing Friday with the Securities and Exchange Commission.
New York-based Perceptive Advisers LLC acquired another 100,000 shares in the company in trades on Wednesday.
It purchased 48,237 shares at an average price of $28.30 a share, and then Perceptive Advisers purchased another 51,763 shares at an average price of $28.99. All told, it spent more than $2.86 million to buy more Dova stock.
Perceptive Advisers now owns more than 3 million shares of the company worth more than $87.8 million.
Its founder and portfolio manager is Joseph Edelman, who founded the company in 1999. Previously, he was senior analyst at Aries Fund, a Paramount Capital Asset Management biotechnology hedge fund, from November 1994 through December 1998.
Prior to that, he was senior biotechnology analyst at Prudential Securities for four years. He started his career in the health care sector of the securities industry as biotechnology analyst at Labe, Simpson.
The additional investment came one day after Dova CEO Alex Sapir spoke at the Jefferies 2018 Global Healthcare Conference in New York.
The FDA approved last month the company’s drug to treat low blood platelet count in chronic liver disease patients scheduled to undergo a medical procedure. The drug was submitted in November 2017 and became available to patients on May 31.
Dova Pharmaceuticals went public in June 2017, raising $75 million. Its stock closed Friday at $28.81, up $1.62, or 5.96 percent.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism