Valueworks Takes New Position in Amgen Amid Strong Tezspire Results

Valueworks LLC has taken a new position in Amgen Inc. (NASDAQ: AMGN) by acquiring 10,978 shares during the second quarter. According to its most recent 13F filing with the Securities and Exchange Commission, the institutional investor valued the shares at approximately $3,975,000.

A number of other hedge funds have also recently made changes to their positions in Amgen. Brighton Jones LLC lifted its stake in Amgen by 23.5% during the fourth quarter, while Sivia Capital Partners LLC grew its stake by 10.6% in the second quarter.

Amgen's commercial potential is expected to expand with the strong Phase 3 results of Tezspire in eosinophilic esophagitis (EoE). The drug met both co-primary and all key secondary endpoints, producing statistically significant and clinically meaningful improvements in tissue inflammation and difficulty swallowing.