These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from Oct. 15 through Oct. 21, 2020. Source: InsiderScore.com
Redmile Group reported an initial interest in the clinical-stage biotechnology company of 5,619,914 shares. Of that stake, 2,178,738 Shattuck shares were derived from the automatic conversion of preferred securities into common stock at the close of Shattuck’s initial public offering on Oct. 14. The remaining 3,441,176 Shattuck shares were purchased that same day, at per share prices ranging from the IPO price of $17 to a high of $22.10. Redmile currently holds a 13.5% stake, and further disclosed that Redmile founder Michael Lee was appointed to Shattuck’s board in June, ahead of the IPO.
Cobro Ventures disclosed an initial stake in the biopharmaceutical firm of 2,484,425 shares, excluding those held directly by Cobro partners. All of those C4 Therapeutics shares resulted from the conversion of preferred securities into common stock immediately at the close of C4 Therapeutics’ IPO on Oct. 6 that priced at $19 per share. Cobro now holds a 5.8% position in C4 Therapeutics’ outstanding stock.
Decreases in Holdings
Griffin Industrial Realty
(GBL) revealed a position in the industrial and office real estate investment trust of 1,451,847 shares. Gamco sold 13,888 Griffin shares at per share prices ranging from $52.01 to $61.29 from Aug. 27 through Oct. 13. Gamco also purchased 4,214 Griffin shares at prices from $51 to $54 apiece from Aug. 21 through Sept. 28. The result lowered Gamco’s stake to 25.7% of Griffin’s tradable stock.
Mill Road Capital reduced its interest in the dinnerware maker and distributor to 1,568,203 shares. Mill Road sold 60,000 Lifetime Brands shares on Aug. 25 at $9.59 apiece, reducing its interest to 7.2% of the outstanding common stock. Mill Road also revealed that it wrote call options against 280,000 of its Lifetime Brands shares that have a $15 exercise price and will expire in May 2021.
Harbert Management cut its stake in the customer-phone-call analytics firm by 28%, to 1,882,374 shares. Without citing a reason, Harbert’s sold 758,139 Marchex shares on Oct. 13 at a price of $2.15 each, leaving it with a 5.4% stake in Marchex’s outstanding stock.
Sachem Head Capital Management lowered its interest in the construction-materials company with the sale of 400,000 Eagle Materials shares. Sachem Head sold the shares from Oct. 5 through Oct. 20 at prices ranging from $89.42 to $92.39 apiece, and now owns 1,942,834 Eagle Materials shares, approximately 4.7% of the tradable stock. Now that Sachem Head’s stake in Eagle Materials has fallen under the 5% threshold, Sachem Head is no longer obligated to disclose transactions in the shares. It could sell its remaining stake without further public notice.