Waterfront Wealth Inc. Raises Stock Position in Amarin Co. plc (NASDAQ:AMRN)

Waterfront Wealth Inc. grew its holdings in Amarin Co. plc (NASDAQ:AMRN) by 181.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,481,766 shares of the biopharmaceutical company’s stock after purchasing an additional 1,599,956 shares during the quarter. Waterfront Wealth Inc.’s holdings in Amarin were worth $1,204,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Arkfeld Wealth Strategies L.L.C. raised its stake in shares of Amarin by 52.6% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 58,000 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 20,000 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Amarin by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 76,959 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 29,992 shares during the period. Kornitzer Capital Management Inc. KS increased its stake in Amarin by 80.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 95,600 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 42,700 shares during the period. New York State Common Retirement Fund purchased a new stake in Amarin during the 4th quarter worth $68,000. Finally, LCM Capital Management Inc increased its stake in Amarin by 3.1% during the 4th quarter. LCM Capital Management Inc now owns 838,259 shares of the biopharmaceutical company’s stock worth $407,000 after buying an additional 25,100 shares during the period. Hedge funds and other institutional investors own 22.25% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Amarin from a “sell” rating to a “hold” rating in a research note on Tuesday, February 11th.

Amarin Price Performance

Amarin stock opened at $0.59 on Friday. The company has a market capitalization of $242.71 million, a price-to-earnings ratio of -6.57 and a beta of 1.83. Amarin Co. plc has a 12-month low of $0.43 and a 12-month high of $1.36. The firm’s fifty day moving average price is $0.54 and its 200 day moving average price is $0.56.

Amarin Profile

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.