Do Hedge Funds Love Synergy Pharmaceuticals Inc (SGYP)?

Consequently, some big names have been driving this bullishness. Sabby Capital, led by Hal Mintz, assembled the biggest call position in Synergy Pharmaceuticals Inc (NASDAQ:SGYP). Sabby Capital had $4.4 million invested in the company at the end of the quarter. Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital also initiated a $0.8 million position during the quarter. The other funds with brand new SGYP positions are Israel Englander’s Millennium Management, Joseph Edelman’s Perceptive Advisors, and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s now review hedge fund activity in other stocks similar to Synergy Pharmaceuticals Inc (NASDAQ:SGYP). These stocks are Hyster-Yale Materials Handling Inc (NYSE:HY), Golub Capital BDC Inc (NASDAQ:GBDC), Boise Cascade Co (NYSE:BCC), and Grupo Supervielle SA -ADR (NYSE:SUPV). This group of stocks’ market valuations resemble SGYP’s market valuation.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $72 million. That figure was $246 million in SGYP’s case. Boise Cascade Co (NYSE:BCC) is the most popular stock in this table. On the other hand Golub Capital BDC Inc (NASDAQ:GBDC) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Synergy Pharmaceuticals Inc (NASDAQ:SGYP) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None