Warren Buffett Sold Off This Biotech Stock. Should You?
For those accustomed to following stock market news, Warren Buffett needs no introduction. The legendary CEO and chairman of Berkshire Hathaway is widely regarded as one of the greatest investors of all time. This title does come with its share of responsibilities: Nearly every investment decision the company he chairs makes is looked at under a microscope.
Berkshire Hathaway's latest 13-F filing (a quarterly report some institutional investment managers are required to file) revealed that the conglomerate closed its stake in biotech Biogen (NASDAQ: BIIB). Buffett and the rest of his investing team have spoken, but should the rest of us follow their lead and stay far away from Biogen's stock?
Perhaps the biggest reason to consider purchasing shares of Biogen is the recent approval of Aduhelm, the company's drug for Alzheimer's disease. Aduhelm is the first Alzheimer's drug approved by the U.S. Food and Drug Administration that goes to the heart of one of the rumored causes of the disease: the accumulation of the beta-amyloid protein in the brain. Aduhelm works by reducing the amount of amyloid plaques.
Source Fool.com
