Cohen's SAC Capital Discloses 8.1% Stake in Savient Pharmaceuticals (SVNT)
In a 13G filing after the close on Savient Pharmaceuticals Inc. (NASDAQ: SVNT), SAC Capital / Steven A. Cohen disclosed an 8.1% stake in the company. At the quarter ended September 30, 2007, SAC Capital held a 100,000 share stake in Savient. A 13G indicates a 'passive investment'.
Savient Pharmaceuticals, Inc., a biopharmaceutical company, engages in the development, manufacture, and marketing of pharmaceutical products that target unmet medical needs.
According to Stockpickr.com, "SAC Capital Partners is a $12 billion dollar group of hedge funds founded by Steven A. Cohen in 1992. While SAC closely guards its returns, published reports and people who have seen the fund's letters to its investors say that SAC had a gross return, before its fees, of at least 40 percent in every year since inception, making it astoundingly successful." Link to SAC Portfolio
Savient Pharmaceuticals, Inc., a biopharmaceutical company, engages in the development, manufacture, and marketing of pharmaceutical products that target unmet medical needs.
According to Stockpickr.com, "SAC Capital Partners is a $12 billion dollar group of hedge funds founded by Steven A. Cohen in 1992. While SAC closely guards its returns, published reports and people who have seen the fund's letters to its investors say that SAC had a gross return, before its fees, of at least 40 percent in every year since inception, making it astoundingly successful." Link to SAC Portfolio
