This Biogen Idec Inc. (BIIB) Data is Screaming ‘Buy, Buy, Buy’

Page 1 of 2

Biogen Idec Inc. (NASDAQ:BIIB) investors: listen up.

To many market players, hedge funds are assumed to be overrated, old investment vehicles of a forgotten age. Although there are In excess of 8,000 hedge funds in operation in present day, this site focuses on the top tier of this club, about 525 funds. Analysts calculate that this group controls the majority of the hedge fund industry’s total assets, and by tracking their highest performing equity investments, we’ve come up with a number of investment strategies that have historically outstripped the broader indices. Our small-cap hedge fund strategy outpaced the S&P 500 index by 18 percentage points per annum for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have topped the S&P 500 index by 33 percentage points in 11 months (explore the details and some picks here).

Just as crucial, positive insider trading sentiment is a second way to look at the world of equities. Just as you’d expect, there are a variety of stimuli for a bullish insider to sell shares of his or her company, but just one, very clear reason why they would behave bullishly. Many academic studies have demonstrated the market-beating potential of this tactic if investors know what to do (learn more here).

Thus, let’s discuss the latest info about Biogen Idec Inc. (NASDAQ:BIIB).

Biogen Idec Inc (NASDAQ:BIIB)

Hedge fund activity in Biogen Idec Inc. (NASDAQ:BIIB)

At Q2′s end, a total of 49 of the hedge funds we track held long positions in this stock, a change of 63% from the first quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were upping their holdings meaningfully.

Out of the hedge funds we follow, Renaissance Technologies, managed by Jim Simons, holds the most valuable position in Biogen Idec Inc. (NASDAQ:BIIB). Renaissance Technologies has a $299.9 million position in the stock, comprising 0.8% of its 13F portfolio. Coming in second is Columbus Circle Investors, managed by Donald Chiboucis, which held a $245.5 million position; the fund has 2% of its 13F portfolio invested in the stock. Other hedgies with similar optimism include Samuel Isaly’s OrbiMed Advisors, Andreas Halvorsen’s Viking Global and Phill Gross and Robert Atchinson’s Adage Capital Management.

As industrywide interest increased, particular hedge funds have been driving this bullishness. Renaissance Technologies, managed by Jim Simons, established the most outsized position in Biogen Idec Inc. (NASDAQ:BIIB). Renaissance Technologies had 299.9 million invested in the company at the end of the quarter. Donald Chiboucis’s Columbus Circle Investors also initiated a $245.5 million position during the quarter. The following funds were also among the new BIIB investors: Samuel Isaly’s OrbiMed Advisors, Andreas Halvorsen’s Viking Global, and Phill Gross and Robert Atchinson’s Adage Capital Management.

How have insiders been trading Biogen Idec Inc. (NASDAQ:BIIB)?

Insider buying is particularly usable when the primary stock in question has experienced transactions within the past 180 days. Over the last half-year time period, Biogen Idec Inc. (NASDAQ:BIIB) has experienced zero unique insiders buying, and 9 insider sales (see the details of insider trades here).

We’ll also take a look at the relationship between both of these indicators in other stocks similar to Biogen Idec Inc. (NASDAQ:BIIB). These stocks are Regeneron Pharmaceuticals Inc (NASDAQ:REGN), Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN), Amgen, Inc. (NASDAQ:AMGN), Gilead Sciences, Inc. (NASDAQ:GILD), and Celgene Corporation (NASDAQ:CELG). This group of stocks are the members of the biotechnology industry and their market caps match BIIB’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

On the Move: The 10 Fastest Growing Businesses in 2015

Fast Money: The 10 Highest Paying Fast Food Restaurants

Mixing It Up: The 14 Best Music Mashups of 2014

Rito Pls Buff: The 10 Least Played Champions in LoL Season 4

10 Covers of Popular Songs that are Better than the Originals

Must See TV: The 9 Most Anticipated Shows of 2015

The 15 Biggest Box Office Bombs of All Time

10 Things The World Can’t Stand About Americans

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Subscribe

Enter your email:

Delivered by FeedBurner

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!