$1,000 follows their calls into $958
John Mason@johnkmasonRead a bunch of the sellside reports re: $ABVX this morning. Thought Jefferies and Wolfe framed the bear case best, useful for bulls (of which I am def one):
John Mason@johnkmasonNibbled some $000660.ks $SKHY sub 1.45m here. Am I gonna get to load up at 1.3m again?
John Mason@johnkmasonWhat a month/year. $QURE and then got to reload on $ABVX after trimming 2/3 into maintenance. Just a little more patience for the full rerate. I continue to be astounded at the alpha available in biotech, even post readout.
John Mason@johnkmasonHave been crazy busy with Chicago work trip last week and moving to Switzerland for the summer this weekend. Caught up on $ABVX. Have it back at a 30% pos. Superb risk/reward here IMO. 🧵
John Mason@johnkmasonWasn't remotely the bottom. Been a very painful 2 months, largest drawdown in $ terms ever (7-figures), though 1/3 was $QURE 4Y data. Still believe $ABVX will be acquired by Feb- into or exiting JPM. Will switch call spreads back to shares if not going into Crohn's. 🧵
John Mason@johnkmasonTook a shot at calling at least a ST bottom in $ABVX. Spent all remaining cash across IRAs at sub- $117 today- fully allocated now at a $121.81 avg across all post-Jul 1 buys. If it falls sub-$110, will likely switch to calls. If it gets back above $130, I'll trim.
John Mason@johnkmasonKenneth Courtis now owns >$150m of $AMR ($51m bought Dec '24-now). Think we're nearing $NRP bottom, will start to buy back in (sold lots to buy more $ABVX June 3). Sidenote $AMR price divergence from $HCC amazing to see (even on EV/EBITDA ofc).
John Mason@johnkmasonRe-added 5/12 original $NRP pos at $101.75
