The booming biotech sector is putting a premium on lab space, and fund managers are buying in.
One of their favorite targets is Pasadena, California-based Alexandria Real Estate Equities Inc, which owns the largest collection of high-end lab space in such research clusters as San Diego, San Francisco and Cambridge, Massachusetts. A total of 64 mutual funds and hedge funds have reported adding shares of the company to their portfolios in the current quarter, a 56 percent jump from the quarter ending in September, according to Morningstar data.