Rayno Life Science Portfolio: Diagnostics and Tools

Here is an update of our Diagnostics and Tools portfolio.

  • Diagnostics and Tools have underperformed the biopharmaceuticals sector over the past 6 months with the exception of the companies acquired.
  • Major acquisitions over the past 12 mos. have boosted performance: Celera, Immucor, Microfluidics and Seracare. Illumina is currently in play with a $51 bid from Roche which was rejected by the Company.
  • Genomic tools and large cap Dx stocks got a big boost up 20%+ since early January with strong presentations at the JPMorgan Conference but have been quiet lately.
  • Our biggest winners in total return since inception are: Abaxis (ABAX), Exact Sciences (EXAS), Illumina (ILMN),NeoGen (NEOG) and Quidel(QDEL).
  • Our valuation metrics on core DX stocks will be out tomorrow.
  • Response Genetics (RGDX)  was added to our portfolio in early February at $1.50..

Disclosure: We are currently long CSII, RGDX and plan to add positions in other stocks over the next 3 months

2010 Original Price Price % Price Price % Ret
Recomm Dec’10 Ret Jy’11 Apr’12 Apr’12
Abaxis ABAX 2/2/09 15 26.85 79 27.77 29.42 96
Alere ALR 2/2/09 25 36.6 46 37.35 25.98 4
CardioV.Sys. CSII 11/5/10 7.15 11.66 63 15.45 9.46 32
Celera CRA 3/28/10 7 6.3 18 acquired 31
Exact Sci EXAS 12/10/10 5.6 5.98 6.8 8.48 10.77 92
GenProbe GPRO 2/2/09 45 58.35 29.7 69.79 67.51 50
Illumina ILMN 2/2/09 29 63.34 118 76 51.92 79
Immucor BLUD 4/5/10 20 19.83 0 acquired 20
MicroFluid MFLU 7/6/10 0.77 1.34 74 acquired 74
NeoGen NEOG 7/2/10 26 41.03 58 45.33 39.53 52
Qiagen QGEN 3/15/10 21.5 19.55 -9 19.07 16.07 -25
Quidel QDEL 6/16/10 12.4 14.45 16 15.3 18.86 52
RespGene RGDX 2/3/12 1.5 1.9 26
Sequenom SQNM 11/18/09 3.75 8.03 114 7.44 3.97 6.5
SeraCare SRLS 11/18/09 2.75 4.75 73 acquired 4 45
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