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Baker Bros. Advisors Sells Some MEI Pharma, Discloses a Massive Stake in Mirati Therapeutics

In a couple 13D filings with the SEC, Julian and Felix Baker‘s Baker Bros. Advisors reported a 19.9% stake in Mirati Therapeutics, Inc. (NASDAQ:MRTX) and a 5.1% stake in MEI Pharma Inc (NASDAQ:MEIP). The latter represents a decrease from the 6.8% stake Baker Bros. held in MEI a few months ago, while the fund’s position in Mirati is new. With a focus on biotech companies, it’s no surprise Julian and Felix Baker are making moves in this space.

MEI Pharma

A couple of days earlier, in a form 4, Baker Bros disclosed that its stake in Mirati Therapeutics has been purchased under the terms of an underwritten public offering, with the price amounting to $17.50 per share.

At the same time, the slice made by the fund in MEI Pharma is in contradiction with two bullish moves made by James E. Flynn‘s Deerfield Management, which reported yesterday raising its position to 1.4 million shares; and Jacob Gottlieb‘s Visium Asset Management, which earlier this month disclosed initiating a 5.4% stake in MEI Pharma.

Disclosure: none

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