Are Dendreon’s Largest Stockholders Fearful of J&J’s Competition?

In 2012, Dendreon Corp.’s (NASDAQ:DNDN) shares are down 16.19 percent. On Monday, the company’s shares fell 12.57 percent to $5.91 on news that Johnson & Johnson (NYSE:JNJ) gave a positive report on a prostate cancer drug that is a competitor to Dendreon’s Provenge.

Approved in April 2010, Provenge trains the immune system to battle cancer and is taken three times over the course of one month. It is an expensive therapy and its revenue has disappointed. One analyst believes that the therapy will not be around in the future thanks to other drugs costing less and offering evolving treatments.

With Provenge starting to fall behind its competitors, will Dendreon’s largest shareholders decrease their positions? 306 institutional firms indicated owning shares of Dendreon Corp. (NASDAQ:DNDN) in Q1 2012. These firms reported owning a total of 624.369 million shares on 03/31/2012. The shares closed at $10.66 on 03/31/2012.

Here are the ten largest positions in Dendreon Corp. at the end of March 31st, 2012.

JPMorgan Chase & Co held 71,773,000 shares on 03/31/2012 worth $57,418,000. This brought the portfolio total to 0.02%.

Camden Asset Management LP /CA held 64,274,000 shares on 03/31/2012 worth $51,595,000. This brought the portfolio total to 3.72%.

Tradewinds Global Investors LLC held 50,869,000 shares on 03/31/2012 worth $4,092,665. This brought the portfolio total to 0.03%.

Ameriprise Financial Inc held 33,702,000 shares on 03/31/2012 worth $27,118,000. This brought the portfolio total to 0.02%.

Tang Capital Management LLC held 23,515,000 shares on 03/31/2012 worth $20,888,000. This brought the portfolio total to 4.88%.

Advent Capital Management /DE/ held 22,230,000 shares on 03/31/2012 worth $17,893,000. This brought the portfolio total to 0.38%.

Blackrock Institutional Trust Company N.A. held 21,200,000 shares on 03/31/2012 worth $16,960,000. This brought the portfolio total to 0.0%.

Silverback Asset Management LLC held 21,000,000 shares on 03/31/2012 worth $16,984,000. This brought the portfolio total to 0.93%.

Lord Abbett & Co. LLC held 20,891,000 shares on 03/31/2012 worth $16,817,255. This brought the portfolio total to 0.04%.

Ubs Oconnor LLC held 16,500,000 shares on 03/31/2012 worth $13,301,000. This brought the portfolio total to 0.17%.

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