Less than two years later (of the IPO), and the 72-year-old (Timothy Springer) has ridden a 17,000% return in his Moderna shares — which he paid about $5 million for in the company’s early stages — into the billionaire club.
The Cambridge, Mass., biotech has jumped 162% this year, as of Wednesday’s close, surging on hopes for its mRNA-1273 coronavirus vaccine, one of the first (along with five other vaccines) to begin human trials.
Biotech is hot in general and as the article says, the ones around Harvard were doing well. So investing 5m in one is not crazy. I'm sure he merely expected single or double digits return.
He got lucky to be an investor in one that hit it big. Stories are also about spectacular winners or losers. There are no story on all the investor that got normal returns last year.
The Cambridge, Mass., biotech has jumped 162% this year, as of Wednesday’s close, surging on hopes for its mRNA-1273 coronavirus vaccine, one of the first (along with five other vaccines) to begin human trials.
https://www.marketwatch.com/investing/stock/MRNA?countrycode...