Klarman Closes Position On Enzon Ahead Of Likely Delisting

After shaving his position several times, Baupost Group LLC manager Seth Klarman has finally closed his position on Enzon Pharmaceuticals Inc (NASDAQ:ENZN) ahead of its likely de-listing from the NASDAQ. The company is pretty small compared to the rest of Baupost’s portfolio, but it still shows how an investment in the pharma sector can come apart when a company doesn’t manage to find any new interesting drugs to sell.

Klarman increased position around $10, sold off at $1

Klarman opened his position in Enzon Pharmaceuticals Inc (NASDAQ:ENZN) in 2009, when the stock price was under...