Todays Report: Today, Havens Advisors LLC Buys New Stake in Vitae Pharmaceuticals Inc. (VTAE)

Today, Havens Advisors LLC Buys New Stake in Vitae Pharmaceuticals Inc. (VTAE)

Havens Advisors LLC bought a new position in shares of Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 103,760 shares of the company’s stock, valued at approximately $2,171,000. Vitae Pharmaceuticals makes up approximately 1.7% of Havens Advisors LLC’s investment portfolio, making the stock its 17th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its position in shares of Vitae Pharmaceuticals by 143.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 80,791 shares of the company’s stock worth $872,000 after buying an additional 47,602 shares during the period. Metropolitan Life Insurance Co. NY purchased a new position in shares of Vitae Pharmaceuticals during the second quarter worth approximately $228,000. Polar Capital LLP increased its position in shares of Vitae Pharmaceuticals by 172.7% in the second quarter. Polar Capital LLP now owns 300,000 shares of the company’s stock worth $3,237,000 after buying an additional 190,000 shares during the period. Bridgeway Capital Management Inc. increased its position in shares of Vitae Pharmaceuticals by 497.5% in the second quarter. Bridgeway Capital Management Inc. now owns 60,350 shares of the company’s stock worth $651,000 after buying an additional 50,250 shares during the period. Finally, State Street Corp increased its position in shares of Vitae Pharmaceuticals by 83.1% in the second quarter. State Street Corp now owns 344,027 shares of the company’s stock worth $3,710,000 after buying an additional 156,171 shares during the period. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Vitae Pharmaceuticals Inc. (NASDAQ:VTAE) remained flat at $21.00 during trading on Monday. Vitae Pharmaceuticals Inc. has a one year low of $4.08 and a one year high of $21.03. The firm has a 50 day moving average of $0.00 and a 200-day moving average of $0.00.

A number of research analysts have commented on the company. Piper Jaffray Cos. downgraded Vitae Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research note on Tuesday, September 20th. BMO Capital Markets downgraded Vitae Pharmaceuticals from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $17.00 to $21.00 in a research note on Thursday, September 15th. Wedbush downgraded Vitae Pharmaceuticals from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $21.00 to $23.00 in a research note on Wednesday, September 14th. Stifel Nicolaus cut Vitae Pharmaceuticals from a “buy” rating to a “hold” rating and set a $21.00 price target for the company. in a research report on Wednesday, September 14th. Finally, Wells Fargo & Co. cut Vitae Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Sunday, September 11th. Seven investment analysts have rated the stock with a hold rating, Vitae Pharmaceuticals has a consensus rating of “Hold” and an average target price of $19.05.

In related news, major shareholder Adage Capital Partners Gp, L.L sold 1,025,000 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $20.85, for a total transaction of $21,371,250.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey S. Hatfield sold 50,000 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $20.81, for a total value of $1,040,500.00. Following the sale, the chief executive officer now directly owns 244,996 shares in the company, valued at approximately $5,098,366.76. The disclosure for this sale can be found here. Corporate insiders own 14.80% of the company’s stock.

Vitae Pharmaceuticals Company Profile

Vitae Pharmaceuticals, Inc is a biotechnology company. The Company is focused on discovering and developing small molecule drugs for diseases. It is engaged in developing a portfolio of product candidates through Contour, its structure-based drug discovery platform. The Company’s product candidates include VTP- 43742 for the treatment of psoriasis, as well as multiple other autoimmune disorders.

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