Will Dendreon’s Q4 Revenue Sit Well With Top Institutional Shareholders?

Dendreon Corp. (NASDAQ:DNDN) has reported a fourth quarter revenue totaling $85.5 million with a consensus of $82.88 million. The company believes that they will be able to reduce the cost of goods sold to below 50 percent of net product revenue during the beginning of the third quarter of 2013. Furthermore, they expect to start seeing net benefits associated with the restructuring initiatives to begin showing up in financial results during the first quarter of 2013, with full benefits realized in the third quarter of 2013. The company also claims that they are actively evaluating partnering strategies for European expansion and continuing to enroll patients in the Sipuleucel-T European Union open-label study. Dendreon expects a mid-2013 regulatory decision in Europe.

Will Dendreon Corp.’s shareholders decrease their holdings? They reported owning a total of 657.654 million shares on 12/31/2012. The shares closed at $5.29 on 12/31/2012.

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

J.P Morgan Chase & Co. held 54,261,000 shares on 12/31/2012 worth $40,968,000. This brought the portfolio total to 0.01%.

Waterstone Capital Management L.P. held 53,982,000 shares on 12/31/2012 worth $40,544,000. This brought the portfolio total to 2.69%.

Deerfield Management Co. /NY held 39,190,000 shares on 12/31/2012 worth $32,235,000. This brought the portfolio total to 1.77%.

Empyrean Capital Partners L.P. held 35,500,000 shares on 12/31/2012 worth $26,577,000. This brought the portfolio total to 0.67%.

Ameriprise Financial Inc. held 33,590,000 shares on 12/31/2012 worth $25,105,000. This brought the portfolio total to 0.02%.

Wolverine Asset Management LLC. held 32,567,000 shares on 12/31/2012 worth $27,279,000. This brought the portfolio total to 0.65%.

Visium Asset Management L.P. held 31,000,000 shares on 12/31/2012 worth $23,560,000. This brought the portfolio total to 0.82%.

Invesco Ltd. held 29,752,000 shares on 12/31/2012 worth $22,463,000. This brought the portfolio total to 0.01%.

Tang Capital Management LLC. held 26,515,000 shares on 12/31/2012 worth $20,151,000. This brought the portfolio total to 7.53%.

Aristeia Capital LLC. held 26,500,000 shares on 12/31/2012 worth $19,875,000. This brought the portfolio total to 2.3%.

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