Baron Opportunity Fund recently published its second-quarter commentary – a copy of which can be downloaded here. During the second quarter of 2021, the Baron Opportunity Fund returned 10.14% (institutional shares). In comparison, the benchmark S&P 500 Index was up 8.55%, while the Russell 3000 Growth Index was up 11.38%. You should check out Baron’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q2 2021 Investor Letter, the fund highlighted a few stocks and Bridgebio Pharma Inc. (NASDAQ:BBIO) is one of them. Bridgebio Pharma Inc. (NASDAQ:BBIO) is a biotech company. In the last three months, Bridgebio Pharma Inc. (NASDAQ:BBIO) stock lost 15%. Here is what the fund said:
“BridgeBio Pharma, Inc. is a biotechnology company developing drugs that address a host of genetic disorders. Shares fell in the quarter given concerns around increasing competition. While we expect positive results from BridgeBio’s Phase 3 trial for its lead program for TTR amyloidosis, a disease in which toxic proteins build up in the heart and nerves, encouraging updates from Alnylam’s competing drug, Vitrusiran, and more recently, Intellia’s gene editing platform, pressured the stock. We exited our position.”
In Q1 2021, the number of bullish hedge fund positions on Bridgebio Pharma Inc. (NASDAQ:BBIO) stock increased by about 13% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in BBIO’s growth potential. Our calculations showed that Bridgebio Pharma Inc. (NASDAQ:BBIO) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
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Disclosure: None. This article is originally published at Insider Monkey.