TheStreet) -- More noteworthy hedge fund trading across the biotech sector, culled from the most recent crop of 13Fs:
All this buying makes me suspect hedge funds are lining up short-term rentals to play the release of efficacy data from Biosante's phase III trials of Libigel to be announced in December. Libigel is a low-dose testosterone gel being developed to boost the libido of menopausal women.
Or maybe the six funds that sold an aggregate 4.89 million shares of BioSante in the third quarter (including five funds that zeroed out their entire positions) know better?
Brookside Capital made a big bet on Idenix in the second quarter, buying up 9.1 million shares. That position has grown to almost 11 million shares at the end of the third quarter.On the other side of the trade, Orbimed liquidated a 2.7 million-share stake in Idenix, while Columbia Wanger also zeroed out, shedding 2.6 million shares. Idenix is expected to announce crucial phase IIb data on its nucleotide inhibitor IDX184 in January.
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