At least two high-profile hedge fund firms have taken
sizable stakes in small biotechnology firms in recent days.
These positions were disclosed in 13Gs, meaning they are
Citadel Advisors disclosed it owns 1.87 million shares of
Inotek Pharmaceuticals Corp., or 6.5 percent of the total
outstanding. At the end of the second quarter, the Chicago
hedge fund firm owned fewer than 17,000 shares of the
clinical-stage, biopharmaceutical company.
D.E. Shaw disclosed it owns 5.44 million shares of Exact
Sciences Corp., or 5 percent of the molecular diagnostics
The New York hedge fund firm also disclosed it owns 3.74
million shares of BioCryst Pharmaceuticals, or 5.1 percent of
the company which is engaged in developing so-called
small-molecule drugs that can treat rare diseases.
Dmitry Balyasny has bought a new mansion next door to his
old mansion. According to the Chicago Tribune, the
founder of Chicago-based
Balyasny Asset Management recently shelled out $2.025 million for a 4,000
square-foot-home on Lake Michigan in Kenilworth, Illinois.
In 2014, Balyasny paid $6.2 million for the property next door,
which includes a four-bedroom, 4,249-square-foot home,
according to the report. The paper also notes Balyasny is
proposing to build an addition to the home he bought two years
Shares of Herbalife surged 4.6 percent to close at $63.30
after Carl Icahn reported late Friday that he boosted his stake
in the multilevel marketer of nutrition products to 20.8
percent. Icahn paid $59.31 per share for the new shares. This
is a setback for William Ackman’s
Pershing Square Capital Management, whose New York firm has
a very large, well-documented but losing short on the
Meanwhile, shares of Valeant Pharmaceuticals, another major,
high-profile Pershing Square long position, lost nearly 2
percent on Monday.