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Baker Bros. Relentlessly Adding Shares Of One Biotech, Going Activist On Another

Julian Baker and Felix Baker’s Baker Bros. Advisors continues to relentlessly add shares to its position in Seattle Genetics, Inc. (NASDAQ:SGEN). In a new filing with the SEC, the hedge fund reported ownership of just under 36.28 million shares, 26% of the outstanding shares of the issuer. The new position represents an increase of 5.41 million shares from the firm’s holding on June 30. Meanwhile, in a separate filing, the healthcare-focused fund reported a change to its position in DBV Technologies SA – ADR (NASDAQ:DBVT). While the size of the position remained unchanged at just over 3.6 million shares, a 14.9% stake in the company, the nature of the position has been changed to activist from passive.

Felix Baker - Baker Bros.

Baker Bros. Advisors has been one of the top performing funds in our database all year. Founded by the Baker brothers, Julian and Felix (pictured) in 2000, the New York City-based healthcare fund’s picks have returned 108.3% through June 30 based on our weighted average returns formula of the fund’s long positions in companies with market caps of at least $1 billion. Its strong second quarter showing helped it top all other funds during that period, and it’s rattled off multiple major success stories this year, including the meteoric rises of Anacor Pharmaceuticals Inc (NASDAQ:ANAC), Synageva Biopharma Corp (NASDAQ:GEVA), and Pharmacyclics Inc (NASDAQ:PCYC).

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