Neptune Wellness (TSX: NEPT) (NASDAQ: NEPT) has seen its institutional investor ownership grow. This evening, an alternative monthly report was filed by that of Perceptive Advisors, LLC in relation to its holdings in Neptune Wellness, which has improved significantly as of late.
Perceptive has been a long time investor in the CBD-focused operator, having originally invested in the firm as far back as 2017. It’s total holdings has fluctuated between 9.91% and 10.82% previously as a result of dilutionary events, with the firm being classified as a minority shareholder as early as December 2018.
That investment grew to 14.8% of the company as of July 2019 following a private placement wherein Perceptive placed approximately US$20 million into the firm, taking roughly half of the entire placement themselves. Now however, that stake has grown even larger.
On May 19, the company purchased an additional 5,000,000 common shares of Neptune via the Nasdaq open market, spending US$12.5 million in the process. The sizable purchase resulted in Perceptive Advisors increasing its stake in the company to 19.39% of Neptune’s outstanding common shares, an increase of 4.59%.
Perceptive currently owns 18,436,906 common shares of Neptune Wellness.
Neptune Wellness last traded at $3.07 on the Nasdaq.
Information for this analysis was found via Sedar and Neptune Wellness Solutions Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.