Brummer’s Multi-Strategy Hedge Fund Flagship Flat for July as Equity Managers Stumble (Hedge Week)
Stockholm-based Brummer & Partners’ flagship multi-strategy hedge fund vehicle remains flat for the year after ending July close to zero, with its equities-focused strategies suffering negative performance last month. Brummer Multi-Strategy (BMS) fell 0.1 per cent in July in both its SEK and dollar-denominated classes, with the twice-levered BMS 2xL version down 0.3 per cent in both classes. Overall, the BMS vehicle remains flat year-to-date at 0.2 per cent, with the twice-levered strategy returning 0.0 per cent in the seven month-period since the start of January, having ended the first half of 2021 in broadly similar territory, the Swedish fund manager said in an update this week.
Tiger Global Almost Breaks Even in July Despite China Stock Rout (Bloomberg)
Tiger Global Management’s hedge fund slid less than 1% in July even as its bets on Chinese companies soured amid the nation’s regulatory overhaul. The 0.8% loss last month pared its gain for the year to 4.4%, according to people familiar with Chase Coleman’s $65 billion firm. The fund rose 6.3% in June.
Health Care Specialist Launches New PE Fund (Institutional Investor)
Cormorant Asset Management is the latest to raise a new fund targeting private life sciences and biopharma companies. A little-known life sciences and biopharma hedge fund specialist is launching its fourth private equity fund. Cormorant Asset Management disclosed in a regulatory filing it has raised nearly $253 million from 34 investors for Cormorant Private Healthcare Fund IV.It is targeting a total of $400 million, according to the filing.
Wednesday 8/4 Insider Buying Report: IMRX, OMGA (Nasdaq.com)
At Immuneering, a filing with the SEC revealed that on Tuesday, Director Peter Feinberg bought 291,667 shares of IMRX, at a cost of $15.00 each, for a total investment of $4.38M. Feinberg was up about 46.6% on the buy at the high point of today’s trading session, with IMRX trading as high as $21.99 at last check today. Immuneering is trading up about 10.3% on the day Wednesday. This buy marks the first one filed by Feinberg in the past year. And at Omega Therapeutics, there was insider buying on Tuesday, by Director David A. Berry who purchased 53,082 shares for a cost of $17.00 each, for a trade totaling $902,394. Omega Therapeutics is trading up about 0.7% on the day Wednesday. Bargain hunters can buy OMGA at a price even lower than Berry did, with the stock trading as low as $16.45 at last check today which is 3.2% below Berry’s purchase price.
The EVP & CFO of Wingstop (NASDAQ: WING) is Selling Shares (Analyst Ratings)
Yesterday, the EVP & CFO of Wingstop (WING), Michael Skipworth, sold shares of WING for $2.56M. Following Michael Skipworth’s last WING Sell transaction on May 04, 2021, the stock climbed by 12.9%. In addition to Michael Skipworth, 3 other WING executives reported Sell trades in the last month. Based on Wingstop’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $74 million and quarterly net profit of $11.31 million.
