Will Dendreon’s Heavy Institutional Shareholders Sell More From Declining Numbers?

In 2012, Dendreon Corp’s (NASDAQ:DNDN) shares are down 40.92 percent. On Wednesday, the company’s Provenge drug lost a battle with Zytiga, but Baird thinks the war is not quite yet over. Currently 20 percent of physicians indicated that its competitor Zytiga is used more than Provenge but this represents a decline from the previous number of 31 percent.

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In addition, 72 percent of doctors did see a change, up from the previous number of 63 percent.

With the declining usage against competitor Zytiga, will Dendreon Corp’s largest shareholders decrease their holdings? 327 institutional firms indicated owning shares of Dendreon Corp. (NASDAQ:DNDN) in Q2 2012. These firms reported owning a total of 656.329 million shares on 06/30/2012. The shares closed at $7.40 on 06/30/2012.

Here are the ten largest positions in Dendreon Corp. at the end of June 30th, 2012.

JPMorgan Chase & Co held 71,084,000 shares on 06/30/2012 worth $49,403,000. This brought the portfolio total to 0.02%.

Camden Asset Management LP /ca held 35,524,000 shares on 06/30/2012 worth $24,807,000. This brought the portfolio total to 1.78%.

Ameriprise Financial Inc held 34,010,000 shares on 06/30/2012 worth $23,702,000. This brought the portfolio total to 0.02%.

Deerfield Management Co /NY held 31,000,000 shares on 06/30/2012 worth $21,545,000. This brought the portfolio total to 1.19%.

Tang Capital Management LLC held 30,515,000 shares on 06/30/2012 worth $22,658,000. This brought the portfolio total to 4.73%.

Invesco Ltd. held 29,752,000 shares on 06/30/2012 worth $20,678. This brought the portfolio total to 0.0%.

Silverback Asset Management LLC held 23,850,000 shares on 06/30/2012 worth $16,695,000. This brought the portfolio total to 1.13%.

UBS Oconnor LLC held 22,524,000 shares on 06/30/2012 worth $15,862,000. This brought the portfolio total to 0.16%.

Visium Asset Management LP held 21,650,000 shares on 06/30/2012 worth $15,209,000. This brought the portfolio total to 0.53%.

Tradewinds Global Investors LLC held 18,704,000 shares on 06/30/2012 worth $1,294,317. This brought the portfolio total to 0.02%.

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