Following Jazz Pharmaceuticals’ (NASDAQ:JAZZ) acquisition of clinical-stage drug developer Celator Pharmaceuticals (NASDAQ:CPXX) today, billionaires Bruce Kovner and Israel Englander are probably smiling. Both of these investing legends run funds that owned big stakes in Celator Pharmaceuticals exiting March.
Kovner’s Caxton owned a 2.3 million shares, and Englander’s Millennium Management held 644,000 shares exiting the first quarter. While it’s unclear if these funds held onto their Celator Pharmaceuticals shares this quarter, there’s a good chance they did, and if that’s the case, then a 70% jump in Celator Pharmaceuticals’ shares serve as one more reason to pay attention to the stocks tucked away in these two gurus’ funds.
