How QVT Financial Gained from Lumber Liquidators Holdings Inc (LL)’s 53% Drop in Q1

Halozyme Therapeutics, Inc. (NASDAQ:HALO), even though it doesn’t represent one of QVT’s top picks, also helped to offset some of the losses of its previous picks, as the stock of the $2.1 billion biopharmaceutical company advanced by 48% during the first quarter. However, in the previous three-month period, the investor halved its stake in the company to 2.01 million shares, worth $19.40 million at the end of 2014. The stock of Halozyme Therapeutics, Inc. (NASDAQ:HALO) is poised to gain even more ground, according to BMO Capital, which has recently set a $26.00 price target on the stock with a ‘Buy’ rating, a more than 50% upside over current trading levels of just under $17. Aside from QVT, David Cohen and Harold Levy’s Iridian Asset Management, Jean-Marie Eveillard’s First Eagle Investment Management, and Julian Baker and Felix Baker’s Baker Bros. Advisors also benefited from Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s growth, being more bullish than QVT and holding on to their shares or even increasing their positions during the fourth quarter of 2014.

MakeMyTrip Limited (NASDAQ:MMYT) is another one of Daniel Gold’s picks that put some pressure on its returns as the stock dropped by 15.50% during the first quarter. MakeMyTrip Limited (NASDAQ:MMYT) is an India-based online travel company that operates a website with the same name and provides booking and trip planning services in India and overseas. Among the latest developments, MakeMyTrip has recently bought Indian startup Mygola, which also operates in the online travel market. QVT Financial edged up its position by 6% during the fourth quarter to 1.61 million shares valued at $41.97 million shares. The fund initiated a stake during the second quarter of 2014 and raised it in the following six months. However, as the stock has been losing ground since the middle of 2014, some investors took it as a sign and have been shedding shares. One of them is Chase Coleman’s Tiger Global, which at the beginning of February, reported holding 2.63 million shares of MakeMyTrip Limited (NASDAQ:MMYT), down from 3.61 million held previously and from 7.18 million shares held throughout the first half of 2014.

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