Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Make a Bundle on Inhibitex $INHX

Shares of Inhibitex (INHX) more than doubled Friday morning. The increase came “after the company released promising new data on its hepatitis C drug candidate,” reports TheStreet. “The Inhibitex drug INX-189 belongs to the same “nucleoside” class of potent oral hepatitis C drugs as Pharmasset’s(VRUS_) heralded PSI-7977. The difference, of course, is that Inhibitex’s market value is $300 million, or at least it was going into Friday’s trading. Pharmasset’s market value is close to $6 billion.”

BRIDGER MANAGEMENT

INHX shares swelled from $3.96 a close Thursday to trade at $8.07 a share at 10am EST. The following hedge funds made the most:

1. Qvt Financial – Daniel Gold: Gained $32.6 million

2. Orbimed Advisors – Samuel Isaly: Gained $11.7 million

3. Bridger Management – Roberto Mignone: Gained $10.8 million

4. Ra Capital Management – Peter Kolchinsky: Gained $8.9 million

5. Adage Capital Management – Phill Gross and Robert Atchinson: Gained $6.2 million

6. Visium Asset Management – Jacob Gottlieb: Gained $4.1 million

7. Baker Bros. Advisors – Julian Baker and Felix Baker: Gained $3.2 million

8. Renaissance Technologies – Jim Simons: Gained $3.2 million

9. Partner Fund Management – Christopher Medlock James: Gained $1.5 million

10. Driehaus Capital – Richard Driehaus: Gained $1.3 million

DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in INHX since the end of June. We did not take into account their option positions.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!