KYTH up 26.7% over past day, pushes Palo Alto Investors Forward
Kythera Biopharmaceuticals Inc (KYTH) returned 26.7% over the past 1 day. It outperformed the market and its corresponding sector, Health, which returned 0.1. For those with a high-conviction position, it presented a unique source of alpha. Some 27 in the Symmetric Hedge Fund Universe have a position in KYTH. While many have only a minor interest in KYTH, few have a high conviction position – a position that is greater than 5% of the publicly disclosed portfolio. Palo Alto Investors holds a high conviction position in KYTH and, unlike the majority of holders, was disproportionately impacted by the move. Their publicly disclosed long portfolio returned 1.72 over the 1 day period. The table below shows the top 3 positive and negative contributors to Palo Alto Investors Llc's performance.
Top 3 Positive Contributors
TickerSize (% book)1D Stock Move1D Abs Ret. Attr.KYTH3.4%26.7%0.92%CLVS7.8%4.4%0.34%ANAC9.3%2.4%0.22%
Top 3 Negative Contributors
TickerSize (% book)1D Stock Move1D Abs Ret. Attr.ENDP3.8%-0.9%-0.03%WMGI2.6%-2.4%-0.06%UTHR12.2%-1.5%-0.19%
. Palo Alto Investors Llc has held a position in KYTH for 8 quarters. The average position size was 2.38% of its publicly disclosed portfolio, and over that period, the stock has returned 85.2%. Use Symmetric to surface managers with unique sources of alpha and flag those that may be in trouble. Companies discussed in this alert: Kythera Biopharmaceuticals Inc (KYTH); Anacor Pharmaceuticals Inc (ANAC); Clovis Oncology Inc (CLVS); Endo International plc (ENDP); Wright Medical Group Inc. (WMGI); United Therapeutics Corporation (UTHR)
