Report From J.P.Morgan Healthcare Conference 2021: Current Portfolio Positions #1

Pacific Biosciences (PACB) was strong again this week even after its meteoric run .Sequencing is hot. We first owned PACB under $10 but sold a lot too soon but still have a little. Preliminary Q4 results showed Q4 revenue of $27M compared to $19.1M in Q3 of 2020.

One of our picks from last year Glaukos (GKOS) had a huge move today to the $80 handle after announcing trial results on their devices, Preliminary financial results for this ophthalmologic Medtech innovator showed $73M in sales for Q4 and $225M for $2020.The product focus is Glaucoma and Corneal health.

Teledoc (TDOC) is pick from 2019 that is a core holding for long term growth. The Company is a global leader in comprehensive virtual care with a compelling economic model.  TDOC looks stronger after its recent merger and was up 10% this week to the $230 level. Member visits are estimated at 10.6M for 2020 with a CAGR of 40%. Bookings are up 35% YoY with a focus on diabetes and hypertension.YTD cash flow is 61M.

One of our better trades of 2020 is Vir Biotechnology (VIR) which vaulted up 40% from lows in the $26 range to close at $35.55 today.  Vir announced collaborations and pipeline milestones for COVID-19, FluA,HIV,HBV utilizing multiple platforms for therapies and vaccines. The Company has two Phase 3 antibody therapy products  in collaboration with GlaxoSmithKline (GSK);  readouts are expected near term. The stock is quite volatile!

Accelerate Diagnostics (AXDX) was a great trade last year to the mid teens and we still hold some at the $8 level but see no reason to add to our position after review of the presentation. Orasure (OSUR)is a laggard and choppy stock  but has good potential for rapid COVID testing.

We will review a few vaccine companies tomorrow: AstraZeneca (AZN), BioNTech (BNTX) and Moderna (MRNA) all of which have been good trades but volatility and valuations make them hard to buy and hold.

We will provide an update on gene therapy stocks.

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Disclosure: None.

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Roger Keats 3 months ago Member's comment

Enjoyed