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.
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%|
|Seth A. Klarman||0||25,000,000||0||25,000,000||25,000,000||18.49%|
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