Guru Andreas Halvorsen (Trades, Portfolio), leader of Viking Global Investors, disclosed a stake in BridgeBio Pharma Inc. (BBIO, Financial) on Monday, adding to his health care holdings.
A former student of Tiger Management’s Julian Robertson (Trades, Portfolio), the investor’s Connecticut-based firm picks stocks based on its understanding of the business’ fundamentals and management team as well as cyclical and secular industry trends.
According to GuruFocus Real-Time Picks, a Premium feature, Halvorsen had invested in 26.6 million shares of the Palo Alto, California-based biopharmaceutical company as of June 27, dedicating approximately 4.04% of the equity portfolio to the position. Filings with the Securities and Exchange Commission show Viking Global, which has been involved with the company since 2017, held 22.12% of BridgeBio’s outstanding shares before the initial public offering. Another major shareholder is KKR.
BridgeBio, which went public last week, develops breakthrough medicines for treating genetic diseases. According to its website, the company’s pipeline consists of 15 drugs that are in various stages of development. Its areas of focus are genetic dermatology, oncology, cardiology, neurology, endocrinology, renal disease and ophthalmology.
Priced at $17 per share, the stock made its debut on the Nasdaq on June 27. It closed its first day of trading at $27.55.
With a $3.21 billion market cap, its shares were trading around $26.62 on Tuesday morning.
Portfolio composition
Halvorsen’s $17.44 billion equity portfolio, which consisted of 57 stocks as of the end of the first quarter, is heavily invested in the health care, consumer cyclical and technology sectors.
Other biotech companies the guru is currently invested in include Biomarin Pharmaceutical Inc. (BMRN, Financial), Moderna Inc. (MRNA, Financial), Jazz Pharmaceuticals PLC (JAZZ, Financial), AnaptysBio Inc. (ANAB, Financial), Blueprint Medicines Corp. (BPMC, Financial), Eidos Therapeutics Inc. (EIDX, Financial), Editas Medicine Inc. (EDIT, Financial), aTyr Pharma Inc. (LIFE, Financial) and Abeona Therapeutics Inc. (ABEO, Financial).
Disclosure: No positions.
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