Robbins Buy Gives Avis Budget Group a Boost

Vanda Pharmaceuticals Inc. NASDAQ: VNDA, Avis Budget Group Inc. NASDAQ: CAR and Chesapeake Energy Corporation NYSE: CHK are on the rise this Tuesday. Taking tumbles are Receptos Inc NASDAQ: RCPT, MacroGenics Inc NASDAQ: MGNX and Anacor Pharmaceuticals.

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Avis

Avis Soars on Robbins Buy

Vanda Pharmaceuticals Inc. NASDAQ:VNDA approached market close today up +15.53% after settling a license dispute with Novartis. Bllionaire hedge fund magnate John Paulson bought into the biopharmaceutical company at the start of the year and as of the third quarter holds 3.25 million VNDA shares. The stock has gained +12.13% year-to-date.

Avis Budget Group Inc. NASDAQ:CAR climbed +9.39% on the heels of Larry Robbins’ disclosure of a 5.12% stake in the company at market close yesterday. In fact, the billionaire at the helm of Glenview Capital filed three 13Gs yesterday revealing big stock buys earlier this month the other two for PVH and LAD. Chase Coleman's Tiger Global also has a stake in Avis, which has rallied nearly +60% in 2014.

Chesapeake Energy Corporation NYSE:CHK gained +9.39% today as well thanks to reports of a new billion-dollar stock buyback plan. In the portfolios of Carl Icahn, Bruce Berkowitz and Ray Dalio, Chesapeake is also a constituent of the billionaire-tracking iBillionaire Index.

Biotech Stocks Stumble

Receptos Inc NASDAQ:RCPT approached market close posting a -13.19% loss for the day. Today's performance aside, Receptos has had a breakout year on Wall Street, its price climbing more than +300% year-to-date. Thomas Steyer's Farallon Capital has been investing in the biotech company since last year.

The share price of MacroGenics Inc NASDAQ:MGNX dipped -11.64%, coming back down after yesterday's surge. The biotech stock, a George Soros pick, has climbed +45.8% over the past six months.

Anacor Pharmaceuticals Inc NASDAQ:ANAC tumbled -9.98% today, though it's still up nearly +80% for the year. ANAC is another Farallon biotech pick.
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The post Robbins Buy Gives Avis Budget Group a Boost appeared first on ValueWalk.

-By iBillionaire

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