Baker Bros. Advisors’ Latest Moves Involve ACADIA Pharmaceuticals Inc. (ACAD) & Synageva Biopharma Corp (TRMS)

Julian Baker and Felix Baker’s hedge fund, Baker Bros. Advisors, has recently tweaked its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) and Synageva Biopharma Corp (NASDAQ:TRMS). According to a filing with the SEC, Baker Bros. Advisors now owns 20.48 million shares of ACADIA Pharmaceuticals, versus 19.96 million shares held at the end of the fourth quarter. The current stake amasses 21.0% of the ACADIA’s common stock.

The stake has been upped under a public offering of common stock, the fund purchasing around 526,300 shares. ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) conducted a public offering of 6.4 million shares  at a price of $28.50 per share. A 30-day option to purchase up to 960,000 shares of common stock of ACADIA has also been granted to the underwriters. The net proceeds from the offering, which are expected to amount to $182.4 million will be used to fund ongoing and new clinical trials, in the development and commercialization efforts for pimavanserin, for its other product candidates and for general corporate purposes.

Baker Bros. also revealed holding warrants for acquisition of common stock of ACADIA, which if exercised, will result in an aggregate of almost 2.0 million shares.

 

ACADIA Pharmaceuticals Inc. (ACAD)

Dr. Stephen R. Biggar an employee of Baker Bros. serves on the Board of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD). Mr. Biggar holds 12,500 options to purchase common stock of ACADIA Pharmaceuticals at a price of $17.01 per share expiring June 7, 2023. Stephen Biggar might also get additional securities as compensation for his service on the Board.

Of all the hedge funds we track, Baker Bros. Advisors is the largest shareholder of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD). Peter Kolchinsky’s  Ra Capital Management, is also long ACADIA and holds 1.17 million shares, with a reported value of $29.24 million.

In a separate filing Baker Bros. Advisors revealed that it purchased 375,000 shares of Synageva Biopharma Corp (NASDAQ:TRMS) at a price of $105.75 per share and now holds around 8.2 million shares.

Synageva Biopharma Corp (NASDAQ:TRMS) has also recently announced a public offering of  2.0 million shares at a price of $105.75 per share. Morever, the company has granted a 30-day option to the underwriters to purchase an additional 300,000 shares of common stock.

Baker Bros. focuses on biotechnology companies. A couple of months ago, Baker Bros. Advisors trimmed its stake in MEI Pharma Inc (NASDAQ:MEIP) to 746,500 shares, from 1,130,317 shares held earlier. Earlier in January, Baker Bros. also revealed owning 13.84 million shares of Genomic Health, Inc. (NASDAQ:GHDX), of which it received 4,100 shares against director retainer fees of $10,000

Baker Bros. Advisors has 12.99% of its equity portfolio invested in Pharmacyclics, Inc. (NASDAQ:PCYC) a clinical-stage biopharmaceutical company, the stake amassing 8.72 million shares worth $922.32 million. The second largest holding of Baker Bros. is Seattle Genetics, Inc. (NASDAQ:SGEN), a company that focuses on the development and commercialization of monoclonal antibody-based therapies for cancer, in which the fund owns around 20.7 million shares.

Disclosure: none

Recommended Reading:

Hound Partners & Arrow Capital Management Are Buying the Same Stocks

Sandell Asset Management Increases Holding of Bob Evans Farms Inc (BOBE) Shares

Steven Cohen’s SAC Capital Ups Passive Stake in Gogo Inc (GOGO)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!