5 Biotech Stocks to Buy According to Matthew Strobeck’s Birchview Capital

3. Quidel Corporation (NASDAQ:QDEL)

Birchview Capital Stake Value: $8,424,000
Percentage of Birchview Capital’s 13F Portfolio: 5.73%
Number of Hedge Fund Holders: 22

Quidel Corporation (NASDAQ:QDEL) is a global maker of diagnostic healthcare devices, based in the United States. Birchview Capital started building its position in Quidel Corporation (NASDAQ:QDEL) in the fourth quarter of 2014. Birchview Capital holds 59,684 shares in the company, valued at $8.42 million as of the third quarter of 2021. The company represents 5.73% of the hedge fund’s 13F portfolio.

Among the hedge funds tracked by Insider Monkey, New York-based Rima Senvest Management is a leading shareholder of Quidel Corporation (NASDAQ:QDEL), with 864,827 shares worth more than $122.07 million. Overall, 22 hedge funds in our database held stakes in Quidel Corporation (NASDAQ:QDEL) at the end of the third quarter, compared to 19 funds in the second quarter.

Nelson Capital Management, an investment management firm, in its second-quarter 2021 investor letter, mentioned Quidel Corporation (NASDAQ:QDEL). Here is what the fund said:

“In the healthcare sector, we sold our position in Quidel (tkr: QDEL), a point-of-care testing company, due to declines in Covid-19 testing. Quidel will also face tough comparable data which will further challenge the company. We still like the company and would consider re-entering once results are back to a more normal growth trajectory.”