Seth Klarman (Trades, Portfolio) purchased 25 million shares in biotechnology company Cascadian Therapeutics Inc. (CASC, Financial) on June 30. Klarman paid 94 cents per share in a deal that had a 0.34% impact on his portfolio.
Klarman’s purchase represents 26.33% of the company’s shares outstanding. Klarman purchased his 25,000,000-share stake two days after company President and CEO Scott Dunseth Myers purchased 62,000 shares.
Cascadian Therapeutics is also traded in Germany.
Cascadian Therapeutics is a clinical-stage biopharmaceutical company focused primarily on the development of therapeutic products for the treatment of cancer. Cascadian Therapeutics' clinical-stage product candidate is ONT-380, an orally active and selective small-molecule HER2 inhibitor. The company is also developing preclinical product candidates in oncology using its Chk1 kinase inhibitor and protocell technology.
Cascadian Therapeutics has a 5/10 financial strength rating with zero debt and a 3/10 profitability ranking with a three-year EPS growth rate of 74%.
Cascadian Therapeutics also has two good signs:
- Cascadian Therapeutics' interest coverage is comfortable. It has no debt.
- Cascadian Therapeutics' stock price is close to its five-year low.
Below is a Peter Lynch chart for Cascadian Therapeutics:
Conclusion
Klarman is a billionaire value investor who attributes much of his investment success to the father of value investing Benjamin Graham. It is possible that Klarman was influenced by the company president and CEO's investment as well as the fact that Cascadian Therapeutics has no debt and is trading close to a five-year low.
Cheers to your investment success.
Disclosure: Author does not own any shares of this company.
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