Biotech Fund Dumps $84M of THIS 29% Soaring Stock! Why NOW?
Why would a major biotech fund dump $84 million of a stock that's skyrocketed 29%? Biotech fund Commodore Capital just slashed its stake in Nuvalent, offloading 850,000 shares worth over $83 million despite the cancer therapy company's stock soaring 29% in the past year. This dramatic reduction saw Nuvalent's share of the fund's assets plummet from over 9% to under 4% in a single quarter. However, experts suggest this move might be strategic capital recycling rather than a complete loss of faith, especially given Nuvalent's robust cash position, upcoming FDA catalysts, and promising oncology pipeline. Ultimately, investors must weigh if this is a prudent de-risking move or a deeper signal about future growth. Don't miss out on vital market insights; subscribe to our channel for more breaking finance news!
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