Longitude Cayman Ltd. Purchases 35,000 Shares of Amarin Co. plc (NASDAQ:AMRN)

Longitude Cayman Ltd. grew its stake in Amarin Co. plc (NASDAQ:AMRN) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,390,000 shares of the biopharmaceutical company’s stock after acquiring an additional 35,000 shares during the period. Amarin accounts for approximately 1.0% of Longitude Cayman Ltd.’s holdings, making the stock its 25th largest position. Longitude Cayman Ltd. owned approximately 0.58% of Amarin worth $1,649,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AMRN. Arkfeld Wealth Strategies L.L.C. acquired a new stake in Amarin during the second quarter worth approximately $28,000. Significant Wealth Partners LLC lifted its position in Amarin by 128.7% during the first quarter. Significant Wealth Partners LLC now owns 34,582 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 19,461 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Amarin during the first quarter worth approximately $37,000. Vanguard Personalized Indexing Management LLC lifted its position in Amarin by 100.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 46,480 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 23,313 shares during the last quarter. Finally, Prospect Financial Services LLC acquired a new stake in shares of Amarin in the second quarter valued at approximately $41,000. Institutional investors own 22.25% of the company’s stock.

Insider Activity at Amarin

In other news, CEO Aaron Berg purchased 160,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of $0.64 per share, with a total value of $102,400.00. Following the acquisition, the chief executive officer now directly owns 805,380 shares in the company, valued at $515,443.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMRN. StockNews.com cut shares of Amarin from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Amarin in a report on Tuesday, June 18th.

Amarin Trading Down 5.1 %

Shares of AMRN stock traded down $0.03 during trading on Thursday, reaching $0.62. 944,736 shares of the company’s stock traded hands, compared to its average volume of 1,786,362. Amarin Co. plc has a 1 year low of $0.57 and a 1 year high of $1.37. The company has a market capitalization of $252.56 million, a P/E ratio of -5.20 and a beta of 1.95. The firm’s 50-day moving average is $0.71 and its 200 day moving average is $0.87.

About Amarin

Amarin Corporation plc, a pharmaceutical company, engages in the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the United States, European countries, Canada, Lebanon, and the United Arab Emirates. The company offers VASCEPA, a prescription-only omega-3 fatty acid product, used as an adjunct to diet for reducing triglyceride levels in adult patients with severe hypertriglyceridemia.