Andreas Halvorsen Jumps on PMV Pharmaceuticals

The guru adds another new health care company to portfolio

Oct 06, 2020

Andreas Halvorsen (Trades, Portfolio) revealed he established a new position in PMV Pharmaceuticals Inc. (PMVP, Financial) on Sept. 25, according to GuruFocus' Real-Time Picks.

Halvorsen, a "Tiger Cub," learned under Julian Robertson (Trades, Portfolio) of Tiger Management prior to founding Viking Global Investors in 1999. The firm considers fundamentals and management to be some of the most important aspects when identifying investment opportunities, but it also considers cyclical and industry trends.

The guru purchased 2.64 million shares during the first day of public trading for the company. The purchase had a 0.43% impact on the equity portfolio. The stock opened at $35 and spiked as high as $40.97 during its first day of trading.

PMV Pharmaceuticals was founded in 2013 and is developing targeted therapies for cancer. Currently in development is a small-molecule therapy that targets p53 mutations. P53 is a tumor-suppressive protein that has the ability to eliminate cancer cells in the body.

As of Oct. 6, shares were trading at $32.45 with a market cap of $1.45 billion.

Portfolio overview

Halvorsen has become increasingly invested in health care companies with other recent purchases including Athira Pharam Inc. (ATHA, Financial), GoHealth Inc. (GOCO, Financial) and Inhibrx Inc. (INBX, Financial) earlier this year. By weight, his portfolio is most invested in the health care (32.64%), technology (19.28%) and consumer cyclical (18.94%) sectors.

Overall, the portfolio contains 71 stocks, with 23 new holdings at the end of the second quarter. His top holdings are Amazon Inc. (AMZN, Financial), Adaptive Biotechnologies Corp. (ADPT, Financial), Comcast Corp. (CMCSA, Financial), Centene Corp. (CNC, Financial) and American Express Co. (AXP, Financial).

Disclaimer: Author owns no stocks mentioned.

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