Cormorant Asset Management’s Bets on Alder Biopharmaceuticals Inc (ALDR) and Other Healthcare Stocks Show Strong Returns

At the end of the second quarter, TESARO Inc (NASDAQ:TSRO) saw 28 funds from our database holding shares, up by 47% over the quarter. Among them was Cormorant, which owned 362,875 shares at the end of June. However, the largest stake in TESARO Inc (NASDAQ:TSRO) was held by Perceptive Advisors, which reported holding $96.1 worth of stock at the end of June. It was followed by Passport Capital with a $61.7 position. Other investors bullish on the company included venBio Select Advisor, Rock Springs Capital Management, and Cormorant Asset Management. During the third quarter, TESARO’s shares gained 19%.

In Nektar Therapeutics (NASDAQ:NKTR), Cormorant reported ownership of some 2.02 million shares as of the end of June. In the following three months, the stock advanced by 20.7%. Overall, at the end of the second quarter, a total of 17 of the hedge funds tracked by Insider Monkey were long this stock, down by 15% compared to the first quarter of 2016. Among these funds, Camber Capital Management held the most valuable stake in Nektar Therapeutics (NASDAQ:NKTR), which was worth $60.5 at the end of the second quarter. On the second spot was Bridger Management which amassed $51.2 worth of shares. Moreover, RA Capital Management, Cormorant Asset Management, and Tang Capital Management were also bullish on Nektar Therapeutics (NASDAQ:NKTR).

Disclosure: none