AKRO: Hedge Fund Favorite NASH Company Spotlight 🐳
Is GLP-1 agonist + FGF-21 targeted - an effective NASH combo?
⇨ Both AKRO (Efruxifermin (EFX)) & ETNB (Pegozafermin)
have early data to suggest that although GLP-1s have activity in NASH
⇨ The combo of a GLP-1 agonist + an FGF-21 ...
provides an additive benefit on NASH and metabolism
AKRO: Hedge Fund Favorite 🐳
9/36 top biopharma funds held AKRO @ end Q3
⇨ Tied for Top 10 most popular consensus holding
➤ Baker Bros. Advisors (Top 20 holding)
➤ Redmile Group (Top 20 holding)
➤ Boxer Capital (Top 20 holding)
➤ Perceptive Advisors (Top 20 holding)
➤ Logos Global Management (Top 20 holding)
➤ Ikarian Capital (Top 20 holding)
➤ Avoro Capital Advisors
➤ Orbimed Advisors
➤ International Biotechnology Trust
ℹ️ Went from 7 to 9 funds Q2 to Q3 ’23
BUT,
⇨ In Q4 2023, AKRO stock down >50% on EFX data in NASH with F4 Cirrhosis 🔴 📉
⇨ Ph2b SYMMETRY study
⇨ Missed primary fibrosis endpoint 😞
⇨ BUT first NASH drug to meet NASH resolution endpoint in F4 NASH
⇨ Did lots of hedge funds pull out of AKRO in Q4 2023 after seeing this data?
🔸 Q4 hedge fund holdings data coming TOMORROW (2/14)!
This article is not investment or legal advice.
Article History:
2/13/24 AV & EJV
#AKRO