Latest News in Activist Investing
Updated from 9 a.m. EST
Activist investing is never an easy task, but by following the latest activist filings, you can piggyback off of some of the smartest money managers and hedge funds ever. These guys are capital allocation wizards, and it pays to watch what they do.
For example, Biotechnology Value Fund announced its full support of the proposed merger of Avigen (AVGN) and MediciNova (MNOV), stating that it believes that the worst-case scenario for Avigen shareholders is $1.20 per share; the stock closed on Thursday at 74 cents and was up to 79 cents in Friday morning trading.
Avigen, which on Dec. 22 stopped all clinical trials of its experimental treatment for spasticity-related multiple sclerosis, just sold its early-stage blood compound for $7 million to Baxter Healthcare. Avigen has a negative enterprise value of -$19 million, with $47.4 million dollars in cash, $7 million in debt and a current market cap of $21.73 millionTo read more, visit Stockpickr.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV