In this article, we are going to take a look at the best biotech stocks to invest in according to the billionaire biotech hedge fund manager Joe Edelman. Insider Monkey has brought up with an extremely interesting article about this topic. Joseph Edelman is among the most successful biotech hedge fund portfolio managers ever since he launched Perceptive Advisors in 1999. Due to Joe Edelman the assets of hedge fund jumped from $6 million in 1999 to almost $6.85 billion in the last twenty years. Its major fund, Perceptive Life Sciences Fund, is involved in investing money in in small- and mid-cap biotech companies. Although the fund suffered losses in 2002, 2008 and 2018, Life Sciences fund had 53.7% returns in the year of 2019.
So which are the best biotech stocks to purchase now? We have sorted out two companies as usual, just to show you a brief foretaste. On the fifth spot we can find Global Blood Therapeutics, Inc. (NASDAQ: GBT). Global Blood is a clinical-stage biopharmaceutical company. The firm is the long-term investment of Joe Edelman, the billionaire hedge fund manager. The company first bought stakes in Global Blood Therapeutics in 2015. It’s the fifth biggest stock holding of Perceptive Advisors portfolio, accounting for 4.60% of the overall portfolio. The worth of the investment is $319 million. The company’s shares suffered some loss this year compared to the broader market index. Actually, the firm had an estimated loss at $7.66 million at the end of the third quarter. Amicus Therapeutics, Inc. (FOLD) stands on the third spot of the compilation. Joe Edelman initiated its position in 2014 in the small-cap biotechnology company. Since the shares of Amicus have increased 150% for the pas twelve months, the hedge fund managed to gain considerable profits from Amicus. Amicus accounts for 5.10% of the overall portfolio in Perceptive Advisors, generating $67.44 million in the third quarter, up 38.3% year over year. For getting further thought-provoking information, please jump to the list of the best biotech stocks to invest in.
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