Baker Bros Reveals New Stake in Aquinox Pharmaceuticals (AQXP)

In a new filing with the SEC, Julian Baker and Felix Baker’s Baker Bros. Advisors revealed new stake in Aquinox Pharmaceuticals Inc (NASDAQ:AQXP). In Aquinox Pharmaceuticals, Baker Bros currently owns a total of 1.2 million shares, which make the holding equal to 12.1% of the common stock.

Pharmacyclics, Inc. (NASDAQ:PCYC)

Aquinox Pharmaceuticals, Inc (NASDAQ:AQXP) is a clinical-stage pharmaceutical company which discovers and develops novel drugs candidates for the treatment of inflammation and cancer.

Last month, the company closed its initial public offering of approximately 4.8 million shares at an offer price of $11.0 per share, which included 630,000 shares issued upon the exercise in full of the underwriters’ option to purchase additional shares. The total offering price is an estimated $53.1 million, excluding underwriting discounts, estimated expenses and commissions. This month, Zacks initiated coverage on Aquinox with a ‘Hold’ rating. Another analyst, Cowen and Company, initiated coverage on Aquinox Pharmaceuticals, Inc (NASDAQ:AQXP) with an ‘outperform’ recommendation at a target price of $30.0 per share.

Baker Bros Advisors, LLC, is located in New York and is a privately owned hedge fund. The fund has an equity portfolio of $7.1 billion, concentrated in the Healthcare sector. It was founded in the year 2000 by Felix Baker and Julian Baker. Dr. Felix J. Baker, who holds a B.S. in Biology and Ph.D in Immunology from Standford University, serves as the Managing Member of the fund. Co-founder, Julian C. Baker holds an A.B. Magna Cum Laude from the Harvard University, also serves as the managing member of the fund.

Baker Bros Advisors has been active until last month, reporting new and tweaked stakes in several companies. Last month, the fund upped positions in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to 20.5 million shares and in Synageva Biopharma Corp (NASDAQ:TRMS) to 8.2 million shares. In January, Baker Bros disclosed holding 13.8 million shares in Genomic Health, Inc. (NASDAQ:GHDX) and 5.3 million shares in Celsus Therapeutics PLC (ADR) (OTCMKTS:CLSXD).

According to the fund’s latest 13F, top holdings of Baker Bros, as at the end of last year, were Pharmacyclics Inc (NASDAQ:PCYC), with a stake valued in excess of $922.3 million, followed by Seattle Genetic Inc. (NASDAQ:SGEN), of which it held around 20.7 million shares worth $827.2 million, and Incyte Corp (NASDAQ:INCY), in which it owned 14.8 million shares valued at more than $749.9 million.

Disclosure: none

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