biotech fund blowups
XBI has been brutal. I am trying to look for opportunities at funds right now but want to avoid any funds that may potentially be on death's door. I know big names like RA, Orbimed, Perceptive have had deep drawdowns. Any other funds I should avoid?
Analyst 3+ in HF - EquityHedge, way too quiet in here. What about these resources:
More suggestions...
You're welcome.
I would think the opposite way - which biotech funds aren’t getting blown up in this market?* EcoR1 and Armistice (Not pure biotech exposure) are the only ones I’ve heard that didn’t struggle as much last year, but they’re both getting hit YTD I presume. I know a couple people doing biotech at generalist/single manager funds, and chances are these funds are getting hit by tech as well (i.e. tiger cubs). I would see who’s being opportunistic in this market as opposed to LTM performance - gut would tell me funds with long-term track records that didn’t completely blow up their public book are looking to opportunistically raise. Should try to figure out who they are since they’d be most likely to hire outside of MM
Armistice runs close to neutral and trades a ton afaik, so def different than the typical baker bro /orbimed types
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