Is EnteroMedics Inc (NASDAQ:ETRM) a buy right now? Investors who are in the know are getting more bullish. The number of bullish hedge fund positions went up by 1 lately.
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Now, let’s take a gander at the recent action surrounding EnteroMedics Inc (NASDAQ:ETRM).
How are hedge funds trading EnteroMedics Inc (NASDAQ:ETRM)?
Heading into 2013, a total of 6 of the hedge funds we track were long in this stock, a change of 20% from one quarter earlier. With the smart money’s sentiment swirling, there exists a few key hedge fund managers who were increasing their stakes meaningfully.
As industrywide interest jumped, key hedge funds were breaking ground themselves. Citadel Investment Group, managed by Ken Griffin, created the largest position in EnteroMedics Inc (NASDAQ:ETRM). Citadel Investment Group had 0.1 million invested in the company at the end of the quarter. Joseph Edelman’s Perceptive Advisors also made a $0 million investment in the stock during the quarter.
How are insiders trading EnteroMedics Inc (NASDAQ:ETRM)?
Bullish insider trading is particularly usable when the primary stock in question has experienced transactions within the past half-year. Over the latest half-year time period, EnteroMedics Inc (NASDAQ:ETRM) has seen 2 unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to EnteroMedics Inc (NASDAQ:ETRM). These stocks are Digirad Corporation (NASDAQ:DRAD), Vision-Sciences, Inc. (NASDAQ:VSCI), Theragenics Corporation (NYSE:TGX), Span-America Medical Systems, Inc. (NASDAQ:SPAN), and Uroplasty, Inc. (NASDAQ:UPI). This group of stocks are the members of the medical appliances & equipment industry and their market caps are closest to ETRM’s market cap.