Radius Health Inc (NASDAQ:RDUS), Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) and Novacopper Inc (NYSEMKT:NCQ) are today’s top-gaining billionaire stock picks midday. The losers are dELiA*s, Inc. (NASDAQ:DLIA), KiOR Inc (NASDAQ:KIOR) and Tasman Metals Ltd (NYSEMKT:TAS).
Welcome to our latest issue of ValueWalk’s hedge fund update. Below subscribers can find an excerpt in text and the full issue in PDF format. Please send us your feedback! Featuring Point72 Asset Management losing about 10% in January, Millennium Management on a hiring spree, and hedge fund industry's assets under management swell to nearly Read More
Radius Health Continues 2014 Climb
Radius Health Inc (NASDAQ:RDUS) surged +10.98% early in the day this Tuesday. The biopharmaceutical company has had a stellar run in 2014, its price climbing +94.38% year-to-date and +91.28% in the past three months alone. Farallon Capital initiated a 1.3-million-share stake in RDUS in Q2 and has made a nice gain on the investment.
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) climbed +8.16% midday. Cowen and Company recently initiated coverage of the stock, giving it an outperform rating and a $23.00 price target. The Ray Dalio pick is up +29.78% YTD.
Taking the third and final spot on today’s list of midday gainers is Novacopper Inc (NYSEMKT:NCQ), up +6.49%. Short interest in the firm is on the decline and fell 1.7% in August, and its price is down -30.26% year-to-date. Both Seth Klarman and John Paulson have had positions in the mineral exploration company since the second quarter of 2012.
Troubled teen apparel retailer dELiA*s, Inc. (NASDAQ:DLIA) plummeted -26.3% midday today, putting its five-day loss at -54.37%. DLIA is currently trading just a couple of cents away from its 52-week low of $0.19. Tiger Global has taken a hit with this one.
KiOR Inc (NASDAQ:KIOR) reached the middle of the day posting a -13.64% loss, coming back down from yesterday’s gain. The renewable fuels company was a new investment for George Soros in Q2.
Tasman Metals Ltd (NYSEMKT:TAS) dipped -13.57%, bringing its 30-day loss to a total -32.08%. Soros initiated a position in the mineral exploration company in Q4 2011 and has maintained his 1.667 million TAS shares since. The billionaire is continuing to wait for this investment to pay off.