Baker Bros. Advisors holds 23.13 million or 30.6% of outstanding shares
Baker Bros. Advisors LLC, with $3.0 billion in 13-F assets at the end of Q4, filed SEC form SC 13D indicating that it holds 23.13 million or 30.6% of outstanding shares, a huge increase from the 0.4 million shares it held at the end of Q4.
Analysis Of Monday's Noteworthy Institutional 5% Ownership Filings In Healthcare
XOMA Ltd. (XOMA): XOMA develops antibodies and recombinant proteins to treat infections, immunological and inflammatory diseases and cancer. On Monday, New York-based biotech-focused hedge fund Baker Bros. Advisors LLC, with $3.0 billion in 13-F assets at the end of Q4, filed SEC form SC 13D indicating that it holds 23.13 million or 30.6% of outstanding shares, a huge increase from the 0.4 million shares it held at the end of Q4. The shares were acquired in connection with a registered direct offering by XOMA that closed on Monday of the prior week, March 6th. XOMA shares trade near recent lows, and are currently technically poised for a break-out of a consolidation range at the bottom. Of the five analysts that track the stock, four rate it a buy/strong buy and one rates it at hold, with a median price target of $8, well above current prices in the $2 range.
Thanks. The bid has been $2.40 all weekend which means nothing I suppose but usually it'd be some silly lowball dollar and a quarter. Wonder what tomorrow holds. Another strong day and it'll be hard to deny something beneficial is coming our way.
"Shareholder Rights Agreement We have amended our shareholder rights agreement to provide that it will not apply to any person or entity who becomes the beneficial owner of 20% or more but less than 40% of our outstanding common stock with the prior approval of our board of directors, and our board has approved purchasers in this offering becoming beneficial owners of 20% or more but less than 40% of our outstanding common stock as a result of their participation in the offering. As a result, such ownership by any such purchaser will not trigger the provisions of the rights agreement that would give each holder of the rights the right to receive upon exercise that number of common share equivalents having a market value of two times the exercise price. The board’s approval in this regard will only apply to purchasers in this offering."