BPIQ Pro/Elite/Apex Investor Posts

Summary

Summary

The $AKRO $NVO M&A announcement earlier was a strong signal, check our post after the ETNB acquisition  for context. In addition, AKRO was in 4 of our 5 hedge fund favorite accounts.

We updated our Run-Up portfolio targets, which can see along with all the portfolio targets at the link below.

Roche is stepping into the MASH/NASH race. The company will acquire 89bio (ETNB)  for $14.50/share in cash  (~$2.4B equity value). On top of that, shareholders get a CVR worth up to $6.00/share , bringing the total potential deal value to $3.5B .

This blog post provides updates re: targets for our portfolios. Targets are set on a quarterly basis after the prior quarter biopharma-focused hedge fund filings are available. Run-Up targets are updated on an ongoing basis.

We made updates to our Run-Up targets today based on the updates we made to our other portfolios based on the Q2 2025 hedge fund data. And we made some tweaks for the Top 50 fund too. The Run-up numbers add up to over 100% because we will be exchanging some tickers in the coming weeks.

Summary

Our Q2 Hedge Fund data is now updated! A few favorite stocks are lining up for major readouts in Q3–Q4, and some are likely to move big.

So, SC Pharma (SCPH) dropped about 4% after reporting their Q2 2025 update on August 7 even though revenue was up big both quarter-over-quarter and year-over-year. At first glance, that makes no sense, right? But here’s what I think is going on.

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COGT I have been updating my diligence in COGT over the past month They had a big positive readout on 7/7/25 They have several more big readouts this year, although probably not as big as the 7/7 readout Background I initially started to follow COGT after I saw them as a biopharma hedge fund favorite at that time (great way to find new companies to dig into) They are trying to develop a better drug than BPMC's Ayvakit targeting same mutation of same enzyme, with more potency

“Bio/pharma funding deal data in H1 2025 reveals a troubling downward shift starting in February.”

A number of rare/genetic disease readouts are set this Q3 2025. Some of them are likely to move big. See table below for 6 of the anticipated readouts. 📈 📉

APLS

Our Top 50 StR portfolio targets have been substantially updated. See new targets at the link below.

Another interesting company to diligence is Dyne Therapeutics (DYN) . Their shares were hit pretty hard this week, apparently because they changed primary outcomes for their upcoming DMD readout. Did the market over-react to that, and in the wrong direction? That is something to dig deeper into.

An interesting company to diligence is ACRS (Aclaris) - they have 2 Big Mover readouts coming this month for 2 different assets, and their market cap is less than $200M, yet 7 hedge funds hold them. It's very rare for this many hedge funds to hold a company with that market cap. However, in 2021 their market cap was 10X current, and we find that biopharma-focused hedge funds are not in a rush to pull out of holdings where they have lost big. We have not traced the hedge fund

It was good to see SCPH up ~25% on their quarterly update in May. Company still only ~$200M market cap, so plenty of room to run up this year.

Updated targets for the Top 10 , Top 15 , and Top 20  BPIQ Elite model portfolios are now available. 👇