Besides doubling down on China, can we talk about why Burry is buying over 500k shares in a small healthcare company?
BioAtla is up 14% after Burry and Scion Asset Management initiated a new stake of 633,959 shares in Q2. BioAtla is a cancer drug developer and is down 35% this year. I haven't done deep research yet but I'm interested in what you guys know about the company and why Burry might be interested in the stock at such depressed levels. I'm long biotech ($XBI) and ($ABBV) but overall the sector hasn't been performing and carries a decent amount of risk. Share any insight you have or informational resources. Compiled some useful links below:
Analyst Ratings are Bullish
Michael Burry’s Strangest Investment
byu/JSOAN321 inwallstreetbets
Posted by JSOAN321
14 Comments
You can stick with XBI. You will notice it does not correlate with SPY. You may get lucky with a few small labs, but big money is in weight loss drugs also lipid technology.
*Cash and cash equivalents as of June 30, 2024 were $61.7 million….. We expect current cash and cash equivalents to fund planned operations through Q3 of 2025 which is sufficient to deliver clinical readouts in multiple indications, position our programs for one or more potentially registrational trials, and enhance our position in advancing strategic collaboration discussions.*
I look at this, plus 1 drug fast tracked, multiple phase 2 trials with readouts coming in 2H 2024?
If you can tolerate the risk, it could be a high reward.
Did he take a break from calling doomsday on X?
Yea he’s a strange dude, a lot of Advance Auto Parts stock too. Uh hello dude have you heard about Tesla and electric vehicles?
So the guy sort of calls one market meltdown, screws everything else up, and should be revered for life?
This is the one the serv proceeds are going to. Thanks champ.
What if he’s trying to be mysterious. Everyone sees he’s taken a position, so even though they have no clue why, they start bidding it up.
He exits his position with profits without ever having to say anything or pump it
This guy is way overrated 
Be the new Shkreli, buy puts. If company tanks, you A. Make money and B. Can claim being smarter than Burry.
Outbreak of monkeypox (Referred to as MPox in media so as not to offend) in several central African countries. Could this firm have been working on monkeypox virus research the last while….🤷🏻♂️🤷🏻♂️🤷🏻♂️
[mpox intl emergency 2024](https://www.who.int/news/item/14-08-2024-who-director-general-declares-mpox-outbreak-a-public-health-emergency-of-international-concern)
Not all investments are for monetary gain. Maybe he’s helping a friend of a friend.
Well he pulled out of JD. That was a bad bet.
So this company has a total capitalization of $80 million. They have enough cash to make it into 2025 at current burn rates.
Compare this stock with something like $lyel, that has $650 million in cash or marketable securities, a capitalization of $300 million. So if you buy a share of lyel at $1.25 you are buying $2.50 in cash.
Burn rate at lyel is 40 million a quarter, but with that cash, even if the 4 items they have under development don’t work out they can buy something that does and go with that.
thjey spun off a startup named outpace and own a stake in it as well.
outpace is private and has a value. Lyell completed a manufacturing plant and is all set to go in that direction.
disclosure: i own 5000 shares of lyel, purchased at $1.25 to $1.40
F Burry