Vertex Pharmaceuticals (VRTX)
It's been tough to own stocks of companies launching new drugs this year and Vertex is no exception. Volatility in Vertex shares has been high as the company launched its new hepatitis C drug Incivek in late May.Year to date performance: +31% Performance since June 30: -12% Brookside Capital Management has been a big Vertex supporter, and it appears the fund likes the stock even more now after adding 1.9 million shares during the second quarter. Reflecting the debate over investing in drug-launch stocks and perhaps Vertex's valuation, hedge fund sellers of note during the quarter included DE Shaw, Sectoral Asset Management, Healthcor Management and Highbridge Capital Management.
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