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ERROR: type should be string, got "https://www.barrons.com/articles/3-biotech-stocks-that-big-investors-are-snatching-up-1537356601\n3 Biotech Stocks That Big Investors Are Snatching Up\nEd Lin\nSept. 19, 2018 7:30 am ET\nAngela Weiss/AFP/Getty Images\nIn the last two weeks, large investors have shelled out over $51 million to buy more stock in three biotech firms.\nAdaptimmune (ADAP) and KalVista Pharmaceuticals (KALV) both had public offerings in which large investors bought stock, while the top shareholder in Amicus Therapeutics ’ (FOLD) bought more shares as they continued to slump.\nAdaptimmune, a UK-based firm that develops novel cancer immunotherapy products, has a market capitalization of about $1 billion, and its American depositary shares (ADSs) have rocketed 72% year to date. Earlier this month it closed an offering of 10 million ADSs at $10 each.\nVenture-capital firm New Enterprise Associates paid $25 million for 2.5 million Adaptimmune ADSs through the offering. Each ADS is the equivalent of six ordinary shares of Adaptimmune that trade in Europe. NEA entities now own the equivalent of 15.8 million Adaptimmune ADSs, which makes it the company’s largest holder, according to Morningstar data.\nAdaptimmune’s offering has already benefited buyers; ADSs ended Tuesday at $11.48, nearly 15% above the offering price.\nNEA didn’t return a phone call seeking comment on the transaction.\nTiny KalVista, which sports a market capitalization of a mere $216 million, develops small molecule protease inhibitors. The company’s stock has surged 65% so far this year. KalVista also wrapped up a public offering earlier this month, selling 4.6 million shares at $17 each.\nEntities of Vivo Capital, an investment firm that focuses on health care, bought 1.06 million more KalVista shares through the offering for $18 million. Vivo now owns 1.4 million KalVista shares. Venture-capital firm InterWest Partners paid $1 million for 59,000 more KalVista shares, raising its stake to 388,770 shares. Vivo is now KalVista’s fourth-largest holder while InterWest is its eighth-largest holder.\nVivo and InterWest didn’t respond to requests for comment. KalVista shares closed at $16.08 Tuesday, 5.4% under the offering price.\nIn February 2017, Joseph Edelman, the founder, chief executive and portfolio manager of Perceptive Advisors and its hedge fund, Perceptive Life Sciences, told Barron’sAmicus was a pick that “will almost certainly go higher.” It was a prescient call, as shares nearly tripled in 2017.\nThis year has been tougher. Amicus have slipped 18% so far this year. Edelman seems to be sticking with that pick, as Perceptive paid $7.2 million for a total of 600,000 more Amicus shares on Sept. 12 and 13. Perceptive now owns 20.6 million Amicus shares, and remains its largest shareholder.\nPerceptive had been buying Amicus shares earlier this year, at higher prices.\nPerceptive declined to comment on the stock purchase.\nIf readers are looking askance at the Amicus transactions this year, keep in mind that Edelman oversaw a 4% gain in 2016 as the biotech sector tumbled 20%. Perceptive surged more than 43% in 2017, more than double the 20% gain in the S&P 500 and the 21% gain in the Nasdaq Biotechnology Index.\nFollow @BarronsEdLin\nWrite to Ed Lin at edward.lin@barrons.com"