Billionaire Seth Klarman’s Baupost Group recently reported a new stake in Cascadian Therapeutics Inc. (NASDAQ:CASC), in a 13G filing with the SEC. Baupost Group has acquired 25 million common shares of the common, which account for 18.49% of its outstanding stock.
Cascadian Therapeutics, formerly known as Oncothyreon Inc., is a biopharmaceutical company that works on discovering a variety of therapeutic treatments to help patients who are suffering from cancer. Over the past 12 months, the company’s stock has lost 73.52%. In its financial report for the first quarter of 2016, Cascadian Therapeutics reported a net loss per share of $0.14, compared to a net loss of $0.08 per share for the same quarter of the previous year. Last month, Jefferies Group and Cowen and Company both reiterated their ‘Buy’ ratings on Cascadian Therapeutics’ stock, while Cantor Fitzgerald reiterated its ‘Hold’ rating, with the latter having a price target of $2.00 on the stock, which currently trades for $1.05.
As per our database, 12 investors were long the stock at the end of March, with Mark Lampert’s Biotechnology Value Fund / BVF Inc holding the biggest position, worth around $23.9 million. The second-most valuable position was disclosed by Kurt Von Emster’s VenBio Select Advisor, and worth approximately $5.2 million. Some other hedge funds with similar optimism encompassed Joseph Edelman’s Perceptive Advisors, Howard Guberman’s Gruss Asset Management, Hal Mintz’s Sabby Capital, and Mehdi Mahmud’s First Eagle Investment Management.
You can access the original SEC filing by clicking here.
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Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| The Baupost Group | 0 | 25,000,000 | 0 | 25,000,000 | 25,000,000 | 18.49% |
| SAK Corporation04-3334541 | 0 | 25,000,000 | 0 | 25,000,000 | 25,000,000 | 18.49% |
| Seth A. Klarman | 0 | 25,000,000 | 0 | 25,000,000 | 25,000,000 | 18.49% |
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Page 1 of 5 – SEC Filing
STATES
SECURITIES AND EXCHANGE COMMISSION
D.C. 20549
13G
the Securities Exchange Act of 1934
(Amendment No.
n/a
)*
of Issuer)
(Title of Class of Securities)
(CUSIP Number)
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
x
Rule
13d-1(b)
o
Rule
13d-1(c)
o
Rule
13d-1(d)
The remainder of this cover page shall be filled out for a reporting person’s
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
information required in the remainder of this cover page shall not be deemed to
be “filed” for the purpose of Section 18 of the Securities Exchange Act of
1934 (“Act”) or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
