Data Show Hedge Funds Like One of these Two Volatile Healthcare Stocks More than the Other

According to Insider Monkey’s data, 43 hedge funds owned about $1.33 billion of Eli Lilly and Co (NYSE:LLY)’s outstanding stock at the end of the second quarter, up by six from the first quarter. Their holdings also increased by 13.61%, amid a 14.92% growth of the stock during the quarter. Moreover, only 1.40% of the Eli Lilly’s float was owned by these funds. Adage Capital Management, led by Phill Gross and Robert Atchinson, owned 2.59 million shares of Eli Lilly at the end of June, up by 49% from the end of March.

Similarly, Incyte Corporation (NASDAQ:INCY) saw more hedge funds going long during the second quarter, according to our data. There were 35 funds, five more than the previous quarter, owning 12.60% or $2.34 billion worth of Incyte shares, up by 15.93% on the quarter at the end of June. Meanwhile, the stock gained just 13.69% during the same period. Julian and Felix Baker‘s Baker Bros. Advisors owned 14.87 million shares of Incyte at the end of the second quarter, up by 1% from the previous quarter.

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