Do Hedge Funds Love Invuity, Inc. (IVTY)?

Consequently, specific money managers have been driving this bullishness. Venator Capital Management, led by Brandon Osten, assembled the most valuable position in Invuity, Inc. (NASDAQ:IVTY). According to its latest 13F filing, the fund had $3.8 million invested in the company at the end of the quarter. Richard Driehaus’s Driehaus Capital also initiated a $2.2 million position during the quarter. The following funds were also among the new IVTY investors: Stuart Weisbrod’s Iguana Healthcare Management, Renaissance Technologies, one of the largest hedge funds in the world, and Mark Broach’s Manatuck Hill Partners.

Let’s go over hedge fund activity in other stocks similar to Invuity, Inc. (NASDAQ:IVTY). We will take a look at Alico, Inc. (NASDAQ:ALCO), Nathan’s Famous, Inc. (NASDAQ:NATH), Cascadian Therapeutics Inc (USA) (NASDAQ:CASC), and Farmers Capital Bank Corp (NASDAQ:FFKT). This group of stocks’ market values resemble IVTY’s market value.

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $47 million. That figure was $45 million in IVTY’s case. Cascadian Therapeutics Inc (USA) (NASDAQ:CASC) is the most popular stock in this table. On the other hand Farmers Capital Bank Corp (NASDAQ:FFKT) is the least popular one with only 3 bullish hedge fund positions. Invuity, Inc. (NASDAQ:IVTY) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CASC might be a better candidate to consider taking a long position in.

Disclosure: none.