Should You Buy Biogen Inc. (BIIB)?

How are hedge funds trading Biogen Inc. (NASDAQ:BIIB)?

At Q4’s end, a total of 71 of the hedge funds tracked by Insider Monkey were long this stock, a change of 18% from the third quarter. With the smart money’s sentiment swirling, there exists a few notable hedge fund managers who were boosting their holdings considerably (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, D. E. Shaw & Co. L.P., founded by David E. Shaw, has the largest position in Biogen Inc. (NASDAQ:BIIB), worth close to $641.1 million, comprising 1% of its total 13F portfolio. On D.E. Shaw’s heels is OrbiMed Advisors, managed by Samuel Isaly, which holds a $441.9 million position; 4% of its 13F portfolio is allocated to the stock. Some other peers that hold long positions include Israel Englander’s Millennium Management, Cliff Asness’s AQR Capital Management and Ken Griffin’s Citadel Investment Group.

As industrywide interest jumped, key money managers have jumped into Biogen Inc. (NASDAQ:BIIB) headfirst. Viking Global, managed by Andreas Halvorsen, created the biggest position in Biogen Inc. (NASDAQ:BIIB). Viking Global had $113 million invested in the company at the end of the quarter. Alex Denner’s Sarissa Capital Management also made a $95 million investment in the stock during the quarter. The following funds were also among the new BIIB investors: First Eagle Investment Management and Miura Global Management, founded by Pasco Alfaro and Richard Tumure.

The final page of this article discusses the hedge fund activity in similar-sized companies as Biogen.