Three Biotech Stocks Are Down Today but Hedge Funds Say They Are Not Out

Of the three biotech stocks, hedge funds are the most bullish on Heron Therapeutics Inc (NASDAQ:HRTX). According to our data, the total number of funds long Heron increased to 20 at the end of the second quarter from 18 at the end of the first quarter. The total value of hedge fund holdings in Heron rose to $617.04 million (66.8% of the float) from $234.65 million. Mark Kingdon’s Kingdon Capital increased its call position by 325% to 1.7 million shares equivalent while Julian Baker and Felix Baker’s Baker Bros. Advisors raised its stake by 8% to 2.81 million shares. Kevin Tang‘s Tang Capital Management upped its holdings by 6% to 5.19 million shares too.

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