Carl Wiese, GROW Partners Up Their Stake in iCAD Inc (ICAD)

GROW Partners and its manager, Carl Wiese, are betting on iCAD Inc (NASDAQ:ICAD). The fund has increased its holding of the stock from 100,000 to 875,000 shares, according to a recent filing with the Securities and Exchange Commission. GROW Parters’ current position accounts for 6.5% of the company’s common stock.

Constantinos J. Christofilis is also bullish on iCAD Inc (NASDAQ:ICAD), with his fund, Archon Capital Management, also having opened a position during the previous quarter. Archon has reported ownership of 598,800 shares valued at $6.98 million in its latest 13F filing. The hedge fund guru, Jim Simmons is also a fan, with his fund, Renaissance Technologies, increasing its stake to 347,100 shares worth little over $4 million during the fourth quarter of 2013. Andy Redleaf has, on the other hand, decided to limit his exposure to this stock. His fund, Whitebox Advisors, has decreased its holding of iCAD by 18% to 111,300 shares reportedly worth $1.29 million.

iCAD Inc (NASDAQ:ICAD) provides solutions for identification and treatment of cancer. The company has a market cap of $131 million and does not pay a dividend. The stock had been in an uptrend since the end of 2012 and has peaked at $14.11 per share in Januray 2013. Since then it has dropped in value by a third to a current price of $9.86 per share. During the fourth quarter of 2013, the company’s revenues registered a 16% year-over-year increase to $9.13 million, while the loss per share has widened to $0.41. Analysts expect the iCAD to register revenues of $7.95 millions and a loss per share of $0.15 for the current quarter.

Wiese launched his fund in 2012 and only in the previous quarter has released its first 13F report. He is betting big on NeoGenomics, Inc. (NASDAQ:NEO), an operator of cancer-testing laboratories, having acquired 3.79 million shares worth approximately $13.7 million. GROW Partners’ second biggest position is Imperva Inc (NYSE:IMPV), a provider of data center securities. The fund holds 272,100 shares valued at a little over $13 million.

Disclosure: none.

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