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Do Hedge Funds and Insiders Love Durata Therapeutics Inc (DRTX)?

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Durata Therapeutics Inc (NASDAQ:DRTX) was in 5 hedge funds’ portfolio at the end of December. DRTX investors should be aware of a decrease in enthusiasm from smart money of late. There were 6 hedge funds in our database with DRTX positions at the end of the previous quarter.

Richard Driehaus

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Now, it’s important to take a gander at the key action surrounding Durata Therapeutics Inc (NASDAQ:DRTX).

What have hedge funds been doing with Durata Therapeutics Inc (NASDAQ:DRTX)?

Heading into 2013, a total of 5 of the hedge funds we track held long positions in this stock, a change of -17% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were boosting their holdings significantly.

Of the funds we track, Discovery Capital Management, managed by Rob Citrone, holds the biggest position in Durata Therapeutics Inc (NASDAQ:DRTX). Discovery Capital Management has a $5.8 million position in the stock, comprising 0.1% of its 13F portfolio. Sitting at the No. 2 spot is James E. Flynn of Deerfield Management, with a $4.2 million position; 0.2% of its 13F portfolio is allocated to the stock. Remaining peers that are bullish include Julian Baker and Felix Baker’s Baker Bros. Advisors, Gregory Fraser, Rudolph Kluiber, and Timothy Kroch’s GRT Capital Partners and Israel Englander’s Millennium Management.

Due to the fact that Durata Therapeutics Inc (NASDAQ:DRTX) has faced a declination in interest from the aggregate hedge fund industry, we can see that there was a specific group of money managers that slashed their full holdings at the end of the year. It’s worth mentioning that Richard Driehaus’s Driehaus Capital cut the biggest investment of the “upper crust” of funds we key on, worth an estimated $1.1 million in stock. These bearish behaviors are interesting, as aggregate hedge fund interest dropped by 1 funds at the end of the year.

Insider trading activity in Durata Therapeutics Inc (NASDAQ:DRTX)

Insider purchases made by high-level executives is most useful when the company in question has seen transactions within the past half-year. Over the latest half-year time period, Durata Therapeutics Inc (NASDAQ:DRTX) has seen 7 unique insiders purchasing, and zero insider sales (see the details of insider trades here).

Let’s go over hedge fund and insider activity in other stocks similar to Durata Therapeutics Inc (NASDAQ:DRTX). These stocks are ArQule, Inc. (NASDAQ:ARQL), ShangPharma Corp (ADR) (NYSE:SHP), Cytokinetics, Inc. (NASDAQ:CYTK), OncoGenex Pharmaceuticals Inc (NASDAQ:OGXI), and Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN). This group of stocks are in the biotechnology industry and their market caps resemble DRTX’s market cap.

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