Krensavage Partners gained 8.45% during the first quarter, driven by long positions in Enanta Pharmaceuticals, RTI Surgical Holdings and Invacare Corp. Two biotech shorts negatively impacted the fund's returns. Krensavage outperformed its benchmark S&P Healthcare Index Return's 6.6% gain but came up short of the S&P 500's 13.6% gain.
Q1 hedge fund letters, conference, scoops etc
Top-performing position: Enanta Pharmaceuticals
The fund's top performer during Q1 was Enanta with its 35% gain. Enanta benefited from royalty payments from Abbvie for sales of the hepatitis C medication Mavyret. Managing Member Michael Krensavage said in his Q1 letter, which was reviewed...
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