Seth Klarman's hedge fund firm Baupost Group filed an amended 13G with the SEC regarding their position in PDL BioPharma (PDLI). The new filing shows Baupost has a 2.15% ownership stake in PDLI with 3,000,000 shares.
This is a decrease of almost 81% in their position size since the end of the third quarter. This is obviously a drastic reduction and comes in stark contrast to the buying of PDLI shares they were doing last July.
Baupost made the filing due to trading activity on January 31st, 2012.
Per Google Finance, "PDL BioPharma is engaged in the management of its antibody humanization patents and royalty assets, which consist of its Queen et al. patents and license agreements with pharmaceutical and biotechnology companies. The Company receives royalties based on these license agreements on sales of a number of humanized antibody products marketed and also may receive royalty payments on additional humanized antibody products launched before final patent expiry in December 2014."
Friday, February 10, 2012
Seth Klarman's Baupost Group Drastically Reduces PDL BioPharma (PDLI) Stake
blog comments powered by Disqus
