Perkins Capital Management Inc Lowers stake in PharmAthene (PIP)

PharmAthene (PIP) : Perkins Capital Management Inc reduced its stake in PharmAthene by 20.16% during the most recent quarter end. The investment management company now holds a total of 953,800 shares of PharmAthene which is valued at $2,327,272 after selling 240,800 shares in PharmAthene , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.PharmAthene makes up approximately 2.77% of Perkins Capital Management Inc’s portfolio.

PharmAthene opened for trading at $2.42 and hit $2.45 on the upside on Friday, eventually ending the session at $2.44, with a gain of 1.24% or 0.03 points. The heightened volatility saw the trading volume jump to 1,20,288 shares. Company has a market cap of $159 M.

Other Hedge Funds, Including , Creative Planning reduced its stake in PIP by selling 12,500 shares or 58.14% in the most recent quarter. The Hedge Fund company now holds 9,000 shares of PIP which is valued at $19,530.

Pharmathene Inc. (Pharmathene) is a biodefense company. The Company is engaged in the development of medical counter measures against biological and chemical threats. The Company has several biodefense candidates in its portfolio: Anthrax vaccines including SparVax which is a second generation liquid recombinant protective antigen (rPA) anthrax vaccine and a lyophilized anthrax vaccine containing rPA; rBChE (recombinant butyrylcholinesterase) bioscavenger which is a medical counter measure for nerve agent poisoning by organophosphorous (OP) compounds including nerve gases and pesticides and Valortim which is a fully human monoclonal antibody for the prevention and treatment of anthrax infection. The Company develops Valortim in collaboration with Bristol-Myers Squibb (BMS).

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