Economic Recession is Crushing These 5 Hedge Funds

2. Perceptive Advisors

YTD Loss as of May 2022: 41%

Perceptive Advisors is a private equity firm based in New York. It was managed by Joseph Edelman, an investor with a net worth of close to $3 billion. Financial Times claims that the fund lost close to 20% in value in just the month of May this year as recession fears lead to a mass exodus from biotech stocks, one of the core investment sectors of Perceptive. In 2021, the fund posted a negative return of 28%, the worst performance on record since it was founded over two decades ago. 

Joseph Edelman of Perceptive Advisors

Perceptive Advisors holds a large stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA), a clinical-stage biotech firm focusing on developing therapies for cancer patients. Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Perceptive Advisors is a leading shareholder in Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), with 12.2 million shares worth more than $203 million.