Top 5 Stock Picks of John Hempton’s Bronte Capital

3. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Bronte Capital’s Stake Value: $88,190,000
Percentage of Bronte Capital’s 13F Portfolio: 10.1%
Number of Hedge Fund Holders: 44

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) researches, develops, produces, and sells medications for the treatment of several illnesses around the world. On September 12, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) released preliminary data for the treatments, ubamatamab and REGN5093, for advanced non-small cell lung cancer with MET mutations.

Bronte Capital has owned a stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) since the fourth quarter of 2020. The hedge fund increased its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 8% in the second quarter of 2022. The fund held 149,189 shares worth $88.19 million as of June 30, making Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) the third-largest stock in its 13F portfolio.

Following the latest success in the Phase III PULSAR and PHOTON trials employing a higher dosage, 8mg formulation of aflibercept, Guggenheim analyst Yatin Suneja increased his price objective on Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) to $925 from $740 and reaffirmed a ‘Buy’ rating on September 12.

According to Insider Monkey’s database, 44 hedge funds had a stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) as of Q2 2022. The total value of their holdings was $1.60 billion. Jim Simons’ Renaissance Technologies is the leading shareholder of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), with a stake worth over $344.67 million.