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These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from Jan. 14 through Jan. 20, 2021. Source: InsiderScore.com
Activist Holdings
Enzo Biochem
(ENZ)
Roumell Asset Management disclosed a 2,761,229-share stake in the molecular-diagnostics biotech.
Jim Roumell, president of Roumell Asset Management, addressed a letter dated Jan. 14 to Enzo Biochem’s board, writing that it should accept Chairman and CEO Elazar Rabbani’s conditional resignation that he tendered on Jan. 8. Per Enzo Biochem’s bylaws, the board has 90 days to convene and either accept or delay the resignation. Rabbani offered to step down, as he did not receive a majority of votes for re-election at Enzo Biochem’s 2020 annual meeting of shareholders. Roumell Asset Management believes “there is [no] reason to wait 90 days to accept Rabbani’s resignation” and urged the board to “abide by the will of the company’s shareholders and promptly accept Rabbani’s resignation.”
On Jan. 20, Enzo Biochem announced the formation of two new board committees. One will guide strategic partnerships, acquisitions, and divestitures, and the other will help drive the development of senior leadership at the firm. The board provided no update on Rabbani’s resignation.
Increases In Holdings
DermTech
(DMTK)
RTW Investments increased its interest in the maker of skin-cancer tests to 13.1% through a public offering. On Jan. 7, RTW bought 200,000 DermTech shares at the offering price of $29.50 apiece, increasing the investment firm’s holding to 3,118,666 DermTech common shares; 31,450 of which underlie exercisable warrants.
DermTech will use the proceeds from the offering to fund “further commercialization of its clinical commercial tests, accelerate pipeline development, and for general corporate purposes.”
Decreases In Holdings
Tenneco
(TEN)
Icahn Enterprises
reported in two separate disclosures that it had reduced an investment in the maker of automotive components.
Icahn Enterprises first sold 699,560 Tenneco Class A shares on Jan. 12 through Jan. 14 at prices ranging from $11.02 to $11.65 per share. Icahn Enterprises then sold another 165,658 Tenneco shares from Jan. 15 through Jan. 20 at $10.75 to $10.83 each.
Icahn Enterprises now holds 12.7% of Tenneco’s outstanding Class A stock, or 8,061,085 shares. In addition, it owns all of Tenneco’s outstanding, nonvoting Class B stock, which stands at 18,101,189 shares.
Bicycle Therapeutics
(BCYC)
Vertex Venture Management revealed that it had slashed its stake in the U.K.-based biotherapeutics firm by nearly half to 883,475 American depositary receipts.
Vertex
Venture sold a total of 737,693 Bicycle ADRs from Dec. 14 through Jan. 19, at $19.20 to $28.56 each. Vertex now owns the equivalent of 4.2% of Bicycle’s outstanding ordinary shares.
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