Switzerland’s BB Biotech shares surged the most in over two years, following news that billionaire Paul Singer increased his stake in the fund to 5.47%.
In November of last year, Singer disclosed that his firm owned 3.1% of BB Biotech shares.
Singer ups stake in BB Biotech
BB Biotech AG is a Swiss health-industry investment fund. Paul Singer, who runs hedge-fund firm Elliot Management, enhanced his stake in the Kuesnacht, Switzerland-based company to 5.47% as of December 23, up from 3.11% previously, according to a filing at Swiss Six Exchange.
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