Palo Alto Rejoicing at ABIOMED, Inc. (ABMD)’s 18% Spike

Palo Alto’s stake in Clovis Oncology Inc (NASDAQ:CLVS) represents 6.91% of the fund’s portfolio value, according to its latest 13F filing. The fund increased its stake in the company by 22% during the fourth quarter to 2.1 million shares valued at $117.76 million. The biopharmaceutical company is up by about 2% over the last year. The bio therapeutic drugs industry on the other hand has gained some 58% during the same period. Christopher Medlock James’ Partner Fund Management is another significant shareholder of Clovis Oncology Inc (NASDAQ:CLVS) with 1.73 million shares valued at $96.6 million.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is also one of Palo Alto’s investments that has paid off really well over the last year, as the stock is up by about 70.8%. Earlier this month it was announced that Myriad Genetics, Inc. (NASDAQ:MYGN) and BioMarin are extending their partnership which began in 2013 and involves the use of Myriad’s myChoice HRD companion diagnostic test to prospectively identify patients with metastatic breast, ovarian, and other cancers that may be sensitive to talazoparib. John Griffin’s Blue Ridge Capital owned some 2.23 million shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) at the end of the fourth quarter. The company is also one of the top new picks of the healthcare-focused Visium Asset Management.

 Disclosure: none