Jim Simons Stock Portfolio: 5 Biggest Healthcare Stocks

2. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Value of Renaissance Technologies’ 13F Position: $619 million

Number of Hedge Fund Shareholders: 49

Jim Simons boosted RenTech’s stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 22% during Q3 to 2.14 million shares, elevating the stock to his second-largest healthcare position and sixth-largest holding overall. VRTX shares had a strong 2022, gaining 30%, which prompted some profit-taking from other money managers, as the number of funds long Vertex Pharmaceuticals fell by 22% during the first three quarters of the year.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is the leading cystic fibrosis company in the world, with four prominent treatments in the space, including Trikafta, which was launched in 2019 and had already pulled in $5.6 billion in revenue just two years later. Vertex’s pipeline is also poised to help the company expand into other treatment areas, including diabetes, pain management, and blood disorders like beta thalassemia and sickle cell disease.

ClearBridge Investments discussed some of the recent developments in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)’s pipeline in its Q3 2022 investor letter:

“Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), which has developed the leading treatments for cystic fibrosis, also saw meaningful positive developments in its pipeline in the third quarter around areas like pain, diabetes and blood disorders. Vertex has been able to consistently grow revenues and earnings through the latest period of economic headwinds, enabling investment in R&D to target treatments in these new areas.”