Will This News Force Elan’s Top Institutional Shareholders to SELL?

In 2012, Elan Corp. plc’s (NYSE:ELN) shares are down 19.29 percent. On Monday, the company announced that researchers found that its treatment for Alzheimer’s, the experimental drug bapineuzumab, wasn’t any better than a placebo at slowing down the disease in patients with mild to moderate cases.

In a Jefferies research note, analyst Corey Davis wrote that Elan could either begin repurchasing shares or retire a portion of its $600 million debt since the company can stop funding bapineuzumab.

With the news of bapineuzumab’s ineffectiveness, will Elan Corp.’s largest shareholders decrease their holdings? 71 institutional firms indicated owning shares of Elan Corp. plc (NYSE:ELN) in Q2 2012. These firms reported owning a total of 12.163 million shares on 06/30/2012. The shares closed at $14.59 on 06/30/2012.

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

HHR Asset Management LLC held 4,281,600 shares on 06/30/2012 worth $62,468,545. This brought the portfolio total to 3.92%.

Granahan Investment Management Inc/MA held 1,611,073 shares on 06/30/2012 worth $23,505,555. This brought the portfolio total to 0.86%.

Allen Investment Management LLC held 1,000,000 shares on 06/30/2012 worth $14,590,000. This brought the portfolio total to 4.85%.

Hambrecht & Quist Capital Management LLC held 713,332 shares on 06/30/2012 worth $10,407,514. This brought the portfolio total to 1.83%.

Platte River Capital LLC held 693,360 shares on 06/30/2012 worth $10,116,123. This brought the portfolio total to 0.92%.

Columbus Circle Investors held 576,825 shares on 06/30/2012 worth $8,415,877. This brought the portfolio total to 0.07%.

Nomura Holdings Inc held 484,770 shares on 06/30/2012 worth $7,072,794. This brought the portfolio total to 0.11%.

Andreeff Equity Advisors LLC held 353,583 shares on 06/30/2012 worth $5,158,776. This brought the portfolio total to 4.46%.

Capital Fund Management S.A. held 351,130 shares on 06/30/2012 worth $5,122,987. This brought the portfolio total to 0.07%.

Dekabank Deutsche Girozentrale held 165,000 shares on 06/30/2012 worth $2,407,350. This brought the portfolio total to 0.05%.

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