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To most stock holders, hedge funds are assumed to be slow, outdated investment vehicles of years past.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 Click to see monthly returns in table format!

Lists

10 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

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!