Enzo Biochem, Inc. (ENZ): Are Hedge Funds Right About This Stock?

Due to the fact that Enzo Biochem, Inc. (NYSE:ENZ) has witnessed no change in sentiment from the aggregate hedge fund industry, we should take a look at a certain “tier” of hedge funds who sold off their full holdings last quarter. Intriguingly, Glenn Russell Dubin’s Highbridge Capital Management dropped the biggest position of all the hedgies studied by Insider Monkey, valued at about $0.2 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund dumped about $0.1 million worth of shares.

Let’s now review hedge fund activity in other stocks similar to Enzo Biochem, Inc. (NYSE:ENZ). These stocks are vTv Therapeutics Inc (NASDAQ:VTVT), ImmunoGen, Inc. (NASDAQ:IMGN), TerraVia Holdings, Inc. (NASDAQ:TVIA), and Capital Southwest Corporation (NASDAQ:CSWC). This group of stocks’ market values are closest to ENZ’s market value.

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $22 million. That figure was $17 million in ENZ’s case. ImmunoGen, Inc. (NASDAQ:IMGN) is the most popular stock in this table. On the other hand vTv Therapeutics Inc (NASDAQ:VTVT) is the least popular one with only 3 bullish hedge fund positions. Enzo Biochem, Inc. (NYSE:ENZ) 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 IMGN might be a better candidate to consider taking a long position in.

Disclosure: none.