Orbimed Advisors LLC

disclosed that they own a 10.2% stake in Roka Bioscience, Inc. (NASDAQ:ROKA) in a Form 13D/A disclosure that was filed with the SEC on Thursday, October 5th. The investor owns 571,428 shares of the stock worth $446,285. The reporting parties listed on the disclosure included OrbiMed Advisors LLC, OrbiMed Capital GP III LLC and Samuel D Isaly. The disclosure is available through Edgar at this link.

Orbimed Advisors LLC

provided the following explanation of their ownership:

This Amendment No. 7 to the Statement relates to the transactions by the Reporting Persons more fully described in Item 5 below. The Shares initially had been acquired (and the Warrants that continue to be held, are held) by the Reporting Persons for the purpose of making an investment in the Issuer and not with the intention of acquiring control of the Issuer’s business.
The Reporting Persons from time to time intend to review their investment in the Issuer on the basis of various factors, including the Issuer’s business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in general and those for the Common Stock in particular, as well as other developments and other investment opportunities. Based upon such review, the Reporting Persons will take such actions in the future as the Reporting Persons may deem appropriate in light of the circumstances existing from time to time. If the Reporting Persons believe that further investment in the Issuer is attractive, whether because of the market price of the Common Stock or otherwise, they may acquire shares of Common Stock or other securities of the Issuer either in the open market or in privately negotiated transactions. Similarly, depending on market and other factors, the Reporting Persons may determine to dispose of some or all of the Shares currently owned by the Reporting Persons or otherwise acquired by the Reporting Persons either in the open market or in privately negotiated transactions.
Except as set forth in this Amendment No. 7, the Reporting Persons have not formulated any plans or proposals which relate to or would result in: (a) the acquisition by any person of additional securities of the Issuer or the disposition of securities of the Issuer, (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries, (c) a sale or transfer of a material amount of the assets of the Issuer or any of its subsidiaries, (d) any change in the present Board of Directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board, (e) any material change in the Issuer’s capitalization or dividend policy of the Issuer, (f) any other material change in the Issuer’s business or corporate structure, (g) any change in the Issuer’s charter or bylaws or other instrument corresponding thereto or other action which may impede the acquisition of control of the Issuer by any person, (h) causing a class of the Issuer’s securities to be deregistered or delisted from a national securities exchange or to cease to be authorized to be quoted in an interdealer quotation system of a registered national securities association, (i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act or (j) any action similar to any of those enumerated above.

Separately, AWM Investment Company Inc. acquired a new stake in shares of Roka Bioscience in the second quarter worth about $352,000. Hedge funds and other institutional investors own 66.51% of the company’s stock.

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Shares of Roka Bioscience, Inc. (ROKA) traded up 2.844% during mid-day trading on Thursday, hitting $0.781. The company’s stock had a trading volume of 101,860 shares. The stock’s market cap is $3.91 million. The company has a 50-day moving average price of $1.12 and a 200-day moving average price of $2.53. Roka Bioscience, Inc. has a 1-year low of $0.66 and a 1-year high of $8.50.

In related news, major shareholder Orbimed Advisors Llc sold 127,601 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $0.98, for a total value of $125,048.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 692,953 shares of company stock valued at $604,335 in the last 90 days. 28.90% of the stock is owned by corporate insiders.

About Roka Bioscience

Roka Bioscience, Inc is a molecular diagnostics company. The Company is focused on the development and commercialization of molecular assay technologies for the detection of foodborne pathogens under the Atlas brand name. The Company offers Atlas Detection Assays and Atlas instrument in the North American food safety testing market and has rights to develop and commercialize its molecular testing solutions for a range of other industrial applications.

Institutional Ownership by Quarter for Roka Bioscience (NASDAQ:ROKA)

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