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Idenix Pharmaceuticals ( IDIX)

Hepatitis C drugs are hot-ticket items for investors, and Idenix may have one in IDIX184, which is advancing through phase II studies. If the drug's data look promising, IDX184 could be partnered or acquired by a larger company seeking to bolster its Hep C drug roster.

Year-to-date performance: -10%

Performance since June 30: -10%

Brookside Capital Management appears to be a big believer in Idenix's potential because it purchased 9.1 million shares of the company during the second quarter. Orbimed also raised its Idenix exposure significantly, adding 2.4 million shares to what was a relatively small position. Baupost Group and Baker Brothers also started new Idenix positions in the quarter.

Idenix sellers included SuttonBrook Capital Management, which liquidated a 1.1 million share holding. Millennium and Highland Capital also sold shares during the quarter.

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