Tuesday, August 26, 2014

Biotech diversity

Recent gains in Keryx Biopharmaceuticals had skewed my portfolio wildly to that one holding (more than 70%).  So today I sold my existing long call position (which was to expire in January) in Keryx and reinvested about half the proceeds into longer dated (March 2015) Keryx calls at a higher strike price.  I put the other half of the proceeds into common stock of several names I've been watching for years, some of which I previously owned.  These are Alnylam Pharmaceuticals, Arrowhead Research, Isis Pharmaceuticals, and Synergy Pharmaceuticals.  These moves retain my exposure to biotech, but in a more diversified way, and with a bit more conservatism (common stock instead of calls).