Julian Baker and Felix Baker‘s Baker Bros. Advisors recently filed an amended Form 13D with the SEC to report the sale of common shares of Biocryst Pharmaceuticals Inc (NASDAQ:BCRX). Its stake in the company now consists of 11.06 million shares, which amass 14.99% of the company’s shares outstanding. Previously, the fund held just under 4.00 million additional shares, or 15.01 million to be precise, according to its 13F filing for the reporting period of June 30.
Biocryst Pharmaceuticals, as the name suggests, is a pharmaceutical company that works on discovering novel small-molecule therapies that block key enzymes and help treat various rare diseases. Earlier this month, the company reported the beginning of the APeX-1 Clinical Trial of BCX7353 for the treatment of hereditary angioedema; the first results of the trial are expected at the end of the year. Over the past 12 months, Biocryst Pharmaceuticals’ stock has lost 62.59%. In its financial report for the second quarter of 2016, the company disclosed a loss per share of $0.22 and revenue of $4.79 million, beating estimates of a loss per share of $0.26 and revenue of $3.92 million. There has been a good deal of analyst ratings activity on Biocryst Pharmaceutical’s stock recently; for starters, Piper Jaffray upgraded its rating on it to ‘Overweight’ from ‘Neutral’ and raised its price target on it to $8.00 from $5.00, while HC Wainwright reiterated its ‘Buy’ rating and JP Morgan Chase & Co. reiterated its ‘Hold’ rating. Lastly, Jefferies Group boosted its price target on Biocryst shares to $3.00 from $2.00 and has a ‘Hold’ rating on the stock.
According to Insider Monkey’s database, investors long Biocryst Pharmaceuticals Inc (NASDAQ:BCRX) at the end of June, aside from Baker Bros. Advisors, were Anders Hove and Bong Koh’s VHCP Management, with a position valued at close to $2.9 million, Chuck Royce’s Royce & Associates, with a $454,000 position, and Gavin Saitowitz and Cisco J. Del Valle’s Springbok Capital. Ken Greenberg and David Kim’s Ghost Tree Capital initiated a new position in the stock during the second quarter valued at $4.83 million on June 30, while Jim Simons’ Renaissance Technologies dumped Biocryst Pharmaceuticals Inc (NASDAQ:BCRX) during that time, saying goodbye to its position that had been valued at $827,000 on March 31.
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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 |
|---|---|---|---|---|---|---|
| Baker Bros. Advisors | 11,038,944 | 0 | 11,038,944 | 0 | 11,038,944 | 14.95% |
| Baker Bros. Advisors (GP) | 11,038,944 | 0 | 11,038,944 | 0 | 11,038,944 | 14.95% |
| Julian C. Baker | 11,062,403 | 0 | 11,062,403 | 0 | 11,062,403 | 14.99% |
| Felix J. Baker | 11,062,403 | 0 | 11,062,403 | 0 | 11,062,403 | 14.99% |
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Page 1 of 9 – SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
| BioCryst Pharmaceuticals, Inc. |
| (Name of Issuer) |
| Common Stock, Par Value $0.01 Per Share |
| (Title of Class of Securities) |
| 09058V103 |
| (CUSIP number) |
| Alexandra A. Toohey |
| Chief Financial Officer |
| Baker Bros. Advisors LP |
| 667 Madison Avenue, 21st Floor |
| New York, NY 10065 |
| (212) 339-5690 |
| (Name, address and telephone number of person authorized to receive notices and communications) |
| August 12, 2016 |
| (Date of event which requires filing of this statement) |
If the
filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D,
and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. x
(Continued on the following pages)
Note: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.
*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 disclosures provided in a prior cover page.
The information required on 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).
