Hedge Funds Expect Big Things From 1 Of These 2 Sliding Biotechs

Celyad SA (ADR) (NASDAQ:CYAD) is another company which recently went public, but one that was much less popular among the elite investors that we track. Those investors held just 3.80% of its shares on June 30, though as a caveat, the biotech company didn’t go public until near the end of June. Celyad, which is developing numerous cell-based treatments for fighting cancer as well as medical devices that deliver therapeutic compounds quickly and efficiently to the heart, has also endured poor stock performance since its IPO, shedding 29% of its market value in just over three months.

All told, six investors that we track held $18.57 million worth of the company’s shares on June 30. In addition to Farallon Capital’s position of 30,000 shares, Israel Englander’s Millennium Management and Bihua Chen’s Cormorant Asset Manegement held stakes in Celyad SA (ADR) (NASDAQ:CYAD), of 81,942 shares and 75,000 shares respectively.

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