Harmonic (HLIT)
Scopia Management has disclosed a position of 5,669,163 shares in Harmonic, which represents 5.1% of the outstanding stock. The firm acquired an additional 1,861,405 Harmonic shares between July 24 and September 20 at prices ranging from $9.61 to $15.50 per share. According to Scopia, this investment presents an attractive opportunity. They have expressed their intention to engage in discussions with Harmonic management to explore ways to enhance stockholder value. However, Scopia has not presented any specific proposals or plans at this time.
Increases in Holdings
SciPlay (SCPL)
Gamco Investors has increased its investment in the digital-games developer to 1,429,508 shares. Between August 25 and September 22, Gamco purchased 225,216 SciPlay shares at prices ranging from $22.69 to $22.82 per share. This raised Gamco’s stake in the gaming firm to 6.7%.
In related news, Light & Wonder (LNW), a digital gaming firm, announced on August 8 that it will be acquiring the remaining interest in SciPlay, approximately 17%, at a price of $22.95 per share in cash. The transaction is expected to be completed by the end of this year.
SciPlay Reports Second-Quarter Results
SciPlay recently announced their second-quarter results, which showcased strong revenue performance. However, due to a merger agreement, Wedbush analyst Michael Pachter downgraded SciPlay stock from Outperform to Neutral, while maintaining a $23 price target.
ARS Pharmaceuticals: Recent Developments and RA Capital’s Position Increase
ARS Pharmaceuticals (SPRY) has caught the attention of RA Capital, which significantly increased its stake in the allergy-focused biopharmaceutical firm. RA Capital now holds an impressive 9.9% interest in ARS Pharmaceuticals, with 9,459,678 shares. On September 21, they purchased an additional 2,700,000 ARS Pharmaceuticals shares, with prices ranging from $2.75 to $3.90 each. This move by RA Capital came shortly after the stock’s plunge, triggered by news that the Food and Drug Administration would delay the firm’s new drug application (NDA) for its epinephrine nasal spray allergy treatment. The delay resulted from the FDA’s assessment of the physiological and concentration effects of repeat doses versus repeated doses of an injectable epinephrine. The market viewed this announcement as a “startling rejection,” causing ARS Pharmaceuticals stock to lose more than half of its value year-to-date.
Decrease in Holdings for Disc Medicine
Disc Medicine (IRON) has experienced a decrease in its holdings by Atlas Venture. The clinical-stage pharmaceutical firm saw Atlas Venture reduce its stake to 2,745,335 shares. From August 14 to September 18, Atlas Venture sold 716,449 Disc Medicine shares, with prices ranging from $52 to $53.60 each. Despite this decrease, Atlas Venture still holds a substantial 12% of Disc Medicine’s tradable stock, which has surged by over 130% so far this year.
