News about Stanley Druckenmiller

Stanley Druckenmiller posted on X that he is excited to be an investor in trade(xyz), shortly after TradeXYZ and Intercontinental Exchange (ICE) said they are seeking regulatory approval for a partnership to bring Hyperliquid's perpetual futures onshore in the U.S. Shares of Hyperliquid Strategies (PURR), which invests in the HYPE token, surged 19% to their highest in three weeks, and more than 111,000 options traded, over six times the 30-day average, with almost 86,000 calls and under 27,000 puts. The most popular trades were selling the 13-strike put expiring Dec. 18 and buying the 13-strike call expiring Nov. 6, which together resemble a risk reversal strategy. CEO David Schamis said the deal shows demand for perp-futures trading and is a step toward regulated trading of the asset class.

Duquesne Family Office, led by billionaire Stanley Druckenmiller, increased its Revolution Medicines stake by 26.5% in the second quarter, before the company's Rasonque won U.S. approval in August for certain pancreatic cancer patients. In a Phase 3 study, Rasonque achieved median overall survival of 13.2 months versus 6.7 months for chemotherapy, and some estimates project it could generate $15.1 billion in revenue by 2034 from pancreatic cancer alone. Some estimates put the number of U.S. patients diagnosed annually with metastatic pancreatic cancer at 55,000, with about 19,000 moving on to second-line treatment; assuming a roughly 30% net discount, the opportunity is nearly $3 billion a year. With a market cap of about $40 billion that has fallen since approval, the author says that at a 12% required rate of return and a forward price-to-sales ratio of 4 by 2031, revenue would need to reach $17.62 billion in 2032 to justify the current valuation. The author says they would seriously consider investing if the market cap falls by another $5 billion, citing clinical, regulatory and biotech volatility risks.

Stanley Druckenmiller's largest position last quarter was Natera, a company that develops blood tests analyzing DNA for prenatal screening, organ transplant monitoring and cancer care. Natera processed over 1 million tests last quarter, up 22% from a year earlier, and revenue grew 37.7%; Druckenmiller added to his stake. The company is also working with Nvidia and Amazon to draw insights from its data using AI, which could aid precision medicine. However, the stock is up 250% over five years and trades at a price-to-sales ratio (P/S) of 21, well above its long-term average. The author notes that the last time Natera traded at this P/S level, it was followed by a 70% price drawdown, and suggests investors sit on the sidelines for now.