Enzon Pharmaceuticals, Inc. (ENZN): Insiders Aren’t Crazy About It

Page 1 of 2

Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN) was in 15 hedge funds’ portfolio at the end of the first quarter of 2013. ENZN has experienced an increase in hedge fund sentiment lately. There were 10 hedge funds in our database with ENZN holdings at the end of the previous quarter.

To most stock holders, hedge funds are assumed to be slow, outdated investment vehicles of years past. While there are over 8000 funds trading today, we choose to focus on the masters of this group, about 450 funds. It is estimated that this group has its hands on the majority of the hedge fund industry’s total capital, and by paying attention to their top picks, we have unsheathed a number of investment strategies that have historically outstripped the market. Our small-cap hedge fund strategy outperformed the S&P 500 index by 18 percentage points annually for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have topped the S&P 500 index by 23.3 percentage points in 8 months (see all of our picks from August).

Equally as important, bullish insider trading activity is another way to break down the stock market universe. There are plenty of reasons for an executive to drop shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Various empirical studies have demonstrated the impressive potential of this tactic if shareholders understand where to look (learn more here).

Now, it’s important to take a glance at the recent action regarding Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN).

What does the smart money think about Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN)?

At the end of the first quarter, a total of 15 of the hedge funds we track were bullish in this stock, a change of 50% from the first quarter. With the smart money’s sentiment swirling, there exists an “upper tier” of key hedge fund managers who were upping their holdings meaningfully.

Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN)According to our comprehensive database, Seth Klarman’s Baupost Group had the largest position in Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN), worth close to $29.2 million, accounting for 0.9% of its total 13F portfolio. The second largest stake is held by Carl Icahn of Icahn Capital LP, with a $22.4 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Some other hedgies with similar optimism include Jim Simons’s Renaissance Technologies, Michael Price’s MFP Investors and Howard Guberman’s Gruss Asset Management.

As aggregate interest increased, specific money managers were leading the bulls’ herd. Gruss Asset Management, managed by Howard Guberman, initiated the largest position in Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN). Gruss Asset Management had 1.7 million invested in the company at the end of the quarter. Robert Rodriguez and Steven Romick’s First Pacific Advisors LLC also initiated a $1.4 million position during the quarter. The following funds were also among the new ENZN investors: Jay Petschek and Steven Major’s Corsair Capital Management, Ken Griffin’s Citadel Investment Group, and Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners.

What have insiders been doing with Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN)?

Bullish insider trading is best served when the primary stock in question has seen transactions within the past six months. Over the last half-year time frame, Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN). These stocks are Cempra Inc (NASDAQ:CEMP), Cytokinetics, Inc. (NASDAQ:CYTK), ShangPharma Corp (ADR) (NYSE:SHP), Durata Therapeutics Inc (NASDAQ:DRTX), and OncoGenex Pharmaceuticals Inc (NASDAQ:OGXI). This group of stocks are the members of the biotechnology industry and their market caps resemble ENZN’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Rito Pls Buff: The 10 Least Played Champions in LoL Season 4

10 Covers of Popular Songs that are Better than the Originals

Must See TV: The 9 Most Anticipated Shows of 2015

The 15 Biggest Box Office Bombs of All Time

10 Things The World Can’t Stand About Americans

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!