5 Stocks The Best Performing Hedge Funds Are Piling Into

Next up is Global Blood Therapeutics Inc (NASDAQ:GBT), another stock which Great Point Partners, which appears to be having a tremendous quarter at first glance, bought in the fourth quarter. The fund initiated a stake of 1 million shares of Global Blood Therapeutics Inc (NASDAQ:GBT), which has gained an astounding 161% this year. Casdin Capital also added 64,000 shares to its position in the stock, lifting it to 304,000 shares.

Shares have partially soared on the back of reports earlier this year that Novo Nordisk A/S (ADR) (NYSE:NVO) may be interested in acquiring the company for as much as $45 per share (the company opened the year at just $14.42). The massive gains for the stock this year are even in spite of the fact that the company executed a $125 million spot secondary towards the end of February. Global Blood Therapeutics Inc (NASDAQ:GBT)’s GBT440 could be the first sickle cell disease treatment to hit the market in two decades. The treatment was granted orphan drug designation in Europe late last year. It also has fast track and orphan drug status in the U.S.

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Photographee.eu/Shutterstock.com

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