Whenever big stock news hits the tickertape, an investor may have few questions, such as:
How this news will affect the stock price?
Did anyone knew about this news?
About a month ago, Biogen Inc. (BIIB) popped almost 50% after U.S. Food and Drug Administration approved its controversial Alzheimer's drug. The stock briefly hit $400 mark before settling at around $350. Today (7/8/21) the stock closed at $369, with another news that FDA labeled Aduhelm drug to treat patients with mild cognitive impairment. Biogen stock rose on this news. This price action in BIIB was impressive, since the general market had a broad sell off during the day. FDA labeling does not change the main narrative. Aduhelm drug is the first drug which aims to treat Alzheimer disease. In the latest 13F fillings, made available mid-May, the following EDGR funds showed Biogen as one of their largest position:
Market % Change From
Fund Value ($MM) From Prior EDGR
Reporting Period Score
Pictet Asset Management 288 25% 86
Berkshire Hathaway Inc 180 14% 65
Sarissa Capital Management LP 180 14% 72
Southeastern Asset Mgmt 169 0% 52
Bellevue Group Ag 156 13% 55
Deerfield Management Co 87 -21% 62
Armistice Capital LLC 81 28% 73
Redmile Group LLC 46 -14% 81
Krensavage Asset Mgmnt LLC 34 -4% 58
Point72 Asset Management LP 32 -34% 71
OrbiMed Advisors LLC 23 -82% 55
HealthCor Management LP 23 862% 69
Great Point Partners LLC 21 0% 62
GMT Capital Corp 17 -5% 72
Pointstate Capital LP 13 537% 65
Interesting to note that HelathCor and Pointstate increased BIIB position by triple percentage points from the prior 13F reporting period.
To see a detailed list of largest stock positions held by above funds, plus 350+ other funds, please visit www.edgr.io and download EDGR app on your iPhone.
* Disclosure: I do not hold long position in BIIB. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with Biogen or investment funds mentioned in this blog post.
** Please refer to an important legal disclaimer found at www.edgr.io/terms-and-conditions.