Vertex Pharmaceuticals Incorporated (VRTX): Hal Mintz, David Shaw, and Phill Gross Are Big Winners

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is up more than 42% after reporting successful results of its cystic fibrosis treatment. Tech Insider yesterday published an article about a CNBC report and pointed out the potential large gains in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). Here is an excerpt from that article:

The first drug to treat this disease is kalydeco which restores the ability of the protein to let chloride pass through cells. However, only 2,000 people with cystic fibrosis can be treated by kalydeco based on their particular gene mutations. Another problem posed by the disease is that the proteins cannot even reach the membrane. This is where Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) comes in with a new drug called lumacaftor which will aid in this particular problem. After this problem is eliminated, drugs such as kalydeco are expected to work. It is estimated that up to 28,000 patients can be helped by this combination.

Tirrell pointed out that this expanded market means bigger business for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). Positive data regarding this combination of drugs to treat cystic fibrosis will drive the stock, she added. Currently trading at about $67, analysts say that positive data will likely drive the stock over $100 while negative data will likely plunge it into the $40s.

David E. Shaw Vertex Pharmaceutical

Even though several hedge funds had large positions in Vertex, the stock isn’t one of the popular biotech stocks. There were only 26 hedge funds (out of the 650 that we are tracking) with bullish VRTX positions at the end of the first quarter. Hal Mintz’s Sabby Capital was the biggest hedge fund winner of the day. The fund held call options, which may subsequently converted into stock positions, worth nearly $170 million. David Shaw’s D. E. Shaw boosted its stake by 163% during the first quarter and held $134 million worth of common shares. Their one day gain is around $50 million assuming that they haven’t reduced their position in the stock. Phill Gross’ Adage Capital had $117 million in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) at the end of the first quarter. Other notable investors in the stock are Israel Englander, Joseph Edelman, and Steven Cohen.
Comments
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

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

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!