Tang Capital Management 13F annual report
Tang Capital Management is an investment fund managing more than $497 million ran by Kevin Tang. There are currently 29 companies in Mr. Tang’s portfolio. The largest investments include AnaptysBio Inc and Heron Therapeutics Inc, together worth $162 million.
$497 million Assets Under Management (AUM)
As of 7th February 2022, Tang Capital Management’s top holding is 2,628,678 shares of AnaptysBio Inc currently worth over $91.3 million and making up 18.4% of the portfolio value.
Relative to the number of outstanding shares of AnaptysBio Inc, Tang Capital Management owns less than approximately 0.1% of the company.
In addition, the fund holds 7,782,928 shares of Heron Therapeutics Inc worth $71.1 million, whose value fell approximately 0.1% in the past six months.
The third-largest holding is Rocket Pharmaceuticals Inc worth $55.3 million and the next is La Jolla Pharmaceutical Co worth $44.7 million, with 9,607,934 shares owned.
Currently, Tang Capital Management's portfolio is worth at least $497 million. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Tang Capital Management
The Tang Capital Management office and employees reside in San Diego, California. According to the last 13-F report filed with the SEC, Kevin Tang serves as the Manager at Tang Capital Management.
Recent trades
In the most recent 13F filing, Tang Capital Management revealed that it had opened a new position in
ANI Pharmaceuticals Inc and bought 300,000 shares worth $13.8 million.
This means they effectively own approximately 0.1% of the company.
ANI Pharmaceuticals Inc makes up
2.9%
of the fund's Health Care sector allocation and has decreased its share price by approximately 0.1% in the past year.
The investment fund also strengthened its position in iTeos Therapeutics by buying
37,500 additional shares.
This makes their stake in iTeos Therapeutics total 937,500 shares worth $43.7 million.
iTeos Therapeutics dropped approximately 0.1% in the past year.
On the other hand, there are companies that Tang Capital Management is getting rid of from its portfolio.
Tang Capital Management closed its position in Aptevo Therapeutics Inc on 14th February 2022.
It sold the previously owned 1,760,000 shares for $27.2 million.
Kevin Tang also disclosed a decreased stake in Heron Therapeutics Inc by approximately 0.1%.
This leaves the value of the investment at $71.1 million and 7,782,928 shares.
One of the smaller hedge funds
The two most similar investment funds to Tang Capital Management are Eubel Brady & Suttman Asset Management Inc and Jeneq Management L.P.. They manage $497 million and $497 million respectively.
Kevin Tang investment strategy
Tang Capital Management’s portfolio is diversified across 2 sectors.
Currently, their heaviest sector is Health Care — making up 95.1% of
the total portfolio value.
The fund focuses on investments in the United States as
69.0% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are small-cap stocks.
Stocks with a size of more than $100 million in market cap make up
10% of the total holdings value.
On the other hand, large-cap stocks make up only 3.4% of the portfolio.
The average market cap of the portfolio companies is close to $1.64 billion.
The complete list of Tang Capital Management trades based on 13F SEC filings
These positions were updated on February 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| AnaptysBio Inc |
No change
2,628,678
|
$91,347,000 | 18.37% |
| Heron Therapeutics Inc |
1.57%
7,782,928
|
$71,058,000 | 14.29% |
| Rocket Pharmaceuticals Inc |
No change
2,531,800
|
$55,269,000 | 11.12% |
| La Jolla Pharmaceutical Co. |
4.39%
9,607,934
|
$44,677,000 | 8.99% |
| iTeos Therapeutics, Inc. |
4.17%
937,500
|
$43,650,000 | 8.78% |
| Aptevo Therapeutics Inc |
Closed
1,760,000
|
$27,174,000 | |
| ChemoCentryx Inc |
No change
500,000
|
$18,205,000 | 3.66% |
| Odonate Therapeutics Inc |
17.71%
12,767,435
|
$17,236,000 | 3.47% |
| Altimmune Inc |
No change
1,600,000
|
$14,656,000 | 2.95% |
| ANI Pharmaceuticals Inc |
Opened
300,000
|
$13,824,000 | 2.78% |
| Allakos Inc |
Opened
1,323,393
|
$12,956,000 | 2.61% |
| Immunogen, Inc. |
Opened
1,500,000
|
$11,130,000 | 2.24% |
| Vincerx Pharma Inc |
No change
1,030,634
|
$10,502,000 | 2.11% |
| Coherus Biosciences Inc |
No change
650,000
|
$10,374,000 | 2.09% |
| Bellus Health Inc |
Opened
1,200,000
|
$9,660,000 | 1.94% |
| Legend Biotech Corp |
Opened
200,000
|
$9,322,000 | 1.87% |
| Atyr Pharma Inc |
No change
1,113,453
|
$8,317,000 | 1.67% |
| Leap Therapeutics Inc |
No change
2,500,000
|
$8,100,000 | 1.63% |
| Corvus Pharmaceuticals Inc |
17.27%
3,101,709
|
$7,475,000 | 1.50% |
| BioAtla, Inc. |
Opened
297,914
|
$5,848,000 | 1.18% |
| BeiGene Ltd |
Opened
20,000
|
$5,419,000 | 1.09% |
| Radius Health Inc. |
Opened
763,888
|
$5,286,000 | 1.06% |
| Genfit S A |
Opened
1,055,994
|
$5,280,000 | 1.06% |
| Tango Therapeutics Inc |
No change
468,750
|
$5,128,000 | 1.03% |
| Reviva Pharmaceutcls Hldgs I |
No change
1,200,000
|
$3,468,000 | 0.70% |
| Calliditas Therapeutics AB |
Opened
100,000
|
$2,476,000 | 0.50% |
| ASLAN Pharmaceuticals Ltd |
110.70%
2,054,925
|
$2,302,000 | 0.46% |
| Equillium Inc |
No change
600,000
|
$2,262,000 | 0.45% |
| Nextcure Inc |
Closed
300,000
|
$2,022,000 | |
| Relmada Therapeutics Inc |
40.88%
59,122
|
$1,332,000 | 0.27% |
| CytomX Therapeutics Inc |
Opened
152,345
|
$660,000 | 0.13% |
| No transactions found | |||
| Showing first 500 out of 31 holdings | |||
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