Do Hedge Funds Love WuXi PharmaTech (Cayman) Inc. (ADR) (WX)?

As one would reasonably expect, specific money managers were leading the bulls’ herd. Alpine Associates, managed by Robert Emil Zoellner, initiated the most valuable position in WuXi PharmaTech (Cayman) Inc. (ADR) (NYSE:WX). Alpine Associates had $56.6 million invested in the company at the end of the quarter. Thomas Steyer’s Farallon Capital also initiated a $55.9 million position during the quarter. The following funds were also among the new WX investors: Noam Gottesman’s GLG Partners, Michael Novogratz’s Fortress Investment Group, and Millennium Management Subsidiary’s Green Arrow Capital Management.

Let’s check out hedge fund activity in other stocks similar to WuXi PharmaTech (Cayman) Inc. (ADR) (NYSE:WX). These stocks are MPLX LP (NYSE:MPLX), American Eagle Outfitters (NYSE:AEO), Industrias Bachoco, S.A.B. de C.V. (ADR) (NYSE:IBA), and TC Pipelines, LP (NYSE:TCP). This group of stocks’ market caps are similar to WX’s market cap.

As you can see these stocks had an average of 15.5 hedge funds with bullish positions and the average amount invested in these stocks was $150 million. That figure was $441 million in WX’s case. American Eagle Outfitters (NYSE:AEO) is the most popular stock in this table. On the other hand TC Pipelines, LP (NYSE:TCP) is the least popular one with only 4 bullish hedge fund positions. WuXi PharmaTech (Cayman) Inc. (ADR) (NYSE:WX) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal, which when taken in combination with the number of funds long the stock increasing by 1, makes WX worthy of a closer look.