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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.

We updated our Run-Up portfolio targets, which can see along with all the portfolio targets at the link below. Thus far this year our Run-Up portfolio has yielded a 14.9% return (unaudited). The next major update to our portfolios should be in mid-November when Q3 hedge fund holdings become available. 🔗   https://app.bpiq.com/analysts/portfolio-targets     Become a BPIQ subscriber  today and get 20% off Elite plans! 🏷️ » Elite plan gets access to our portfolio holdings   Th

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 .

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 .   The Asset The prize is pegozafermin (pego) , 89bio’s lead program for MASH/NASH. Pego is a glycoPEGylated FGF21 analog . Designed to drive weight loss, reduce liver fat, and improve fibrosis.   Deal Terms Cash upfront:  $14.50/shar

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 Hedge fund holdings can help you discover new investment ideas We identified & follow the top biopharma-focused hedge funds Q2 hedge fund holdings reports were released on ~08/14/25 This report focuses on top holdings of top biopharma hedge funds as of 06/30/25 Top Biopharma Hedge Funds At BPIQ we identified the top smid-cap biopharma-focused hedge funds ^1. We updated our database of holding and other info re: these funds with their recently-released data for holdings

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. Below are 6 key catalysts we’re watching closely. 📈 📉   $ MLTX  Sonelokimab / Hidradenitis Suppurativa / Phase 3 » Potential for a highly differentiated, “gold standard” therapy in HS » Achieved highest responses to date in HS » Ph2 MIRA trial in HS was designed as a pivotal study Ph2 results recap 👇 $ CRNX  Paltusotine / Acromegaly / PDU