ValueAct Capital Ups Bioverativ Position ~ market folly

Friday, March 3, 2017

ValueAct Capital Ups Bioverativ Position

Jeff Ubben's activist investment firm ValueAct Capital has filed an amended 13D on its stake in Bioverativ (BIVV).  Per the filing, ValueAct now owns 7.5% of the company with over 8.13 million shares.

This is up from their previous stake of 7.7 million shares and the filing was made due to activity on February 28th. 

The 13D also notes that ValueAct received 6.48 million shares in connection with physical settlement of the forward contracts we previously outlined that they owned.

For more from this firm, also check out Jeff Ubben on the future of shareholder activism at a recent panel.

Per Google Finance, Bioverativ is "focused on the discovery, research, development and commercialization of therapies for the treatment of hemophilia and other blood disorders. It markets approximately two products, including ELOCTATE [Antihemophilic Factor (Recombinant), Fc Fusion Protein], and ALPROLIX [Coagulation Factor IX (Recombinant), Fc Fusion Protein], extended half-life clotting-factor therapies for the treatment of hemophilia A and hemophilia B, respectively. ELOCTATE and ALPROLIX use a process known as Fc fusion to link recombinant factor VIII and factor IX, respectively, to a protein fragment in the body known as Fc. The fusion of the factor with the Fc protein fragment uses a naturally occurring pathway and is designed to extend the half-life of the factor thereby making the product last longer in a person's blood than various factor therapies. Its pipeline includes BIVV 001(rFVIIIFc-VWF-XTEN) and BIVV 002 (rFIXFc-XTEN)." 

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