5 Biotech Stocks to Sell Now According to Cathie Wood

In this article, we discuss 5 biotech stocks to sell now according to Cathie Wood. If you want to read our detailed analysis of these stocks, go directly to 10 Biotech Stocks to Sell Now According to Cathie Wood. 

5. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Number of Hedge Fund Holders: 41    

Percentage Decrease in Stake in Q4: 83%  

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) makes and sells medicines for treating various diseases. Top hedge funds hold large stakes in the company. At the end of the fourth quarter of 2021, 41 hedge funds in the database of Insider Monkey held stakes worth $1.7 billion in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), compared to 44 in the previous quarter worth $1.3 billion.

Latest 13F filings show that ARK owned 72,993 shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) at the end of December 2021 worth $46 million, representing 0.13% of the portfolio of the fund. 

In its Q2 2021 investor letter, Oakmark Funds, an asset management firm, highlighted a few stocks and Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) was one of them. Here is what the fund said:

“We restored Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) from a rather trivial to a more normal position size. You may recall Regeneron performed well for the Fund during the Covid-19 crisis, so we significantly reduced our position as its price-value gap narrowed. During the past several quarters, however, the market has experienced the now infamous “reopening trade,” in which companies that performed well during the pandemic trailed as the economy reopened. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) suffered a similar fate and its shares have lagged the S&P 500 by roughly 4000 basis points, despite the company’s strong fundamentals and robust pipeline of new products. The underperformance widened Regeneron’s price-value gap, so we restored it to a more normal position size.”