market folly

Seth Klarman's investment firm Baupost Group has filed an amended 13G regarding their position in Keryx Biopharmaceuticals (KERX).  Per the filing, Baupost now owns 19.93% of the company with 18.3 million shares.

They've boosted their position size by over 7.76 million shares since the end of the second quarter.  The filing was required due to portfolio activity on September 30th.

You can view other portfolio activity from Baupost here.

Per Google Finance, Keryx Biopharmaceuticals "is focused on the acquisition, development, and commercialization of pharmaceutical products for the treatment of renal disease. The Company is developing KRX-0502, an investigational, ferric citrate, oral compound that binds to phosphate. Under the name Zerenex, KRX-0502 has completed a United States-based Phase III clinical program for the treatment of hyperphosphatemia in patients with chronic kidney disease (CKD) on dialysis."