Baker Bros. Relentlessly Adding Shares Of One Biotech, Going Activist On Another

Let’s briefly check in on DBV Technologies SA – ADR (NASDAQ:DBVT) now. There wasn’t much to go by in the recent filing as to why Baker Bros. decided to go activist on the company, as it disclosed having no current plans or proposals regarding the company’s operations, though the filing did reveal that Baker Bros. “may make suggestions to the management of the Issuer regarding corporate financing and strategy”.

The sudden shift doesn’t appear related to under-performance, as DBV Technologies SA – ADR (NASDAQ:DBVT) has also had a very strong 2015, up by more than 50%. In fact just yesterday we reported that it had carried its pre-market momentum into the regular trading session and was making a nice move upwards following Morgan Stanley (NYSE:MS) initiating coverage on the stock and assigning it an ‘Overweight’ rating and hefty $59 price target. Shares have gained another 1.59% today.

Israel Englander‘s Millennium Management held the second-largest stake in the biotech company, which is working on developing treatments for severe allergies. Millennium Management held 592,200 shares as of June 30, trailing only Baker Bros. within our database. Another healthcare fund, Jacob Gottlieb’s Visium Asset Management, held 444,400 shares.

Disclosure: None