Hedge Fund Sentiment Is Stagnant On Bellicum Pharmaceuticals Inc (BLCM)

Because Bellicum Pharmaceuticals Inc (NASDAQ:BLCM) has witnessed falling interest from the smart money, it’s easy to see that there was a specific group of fund managers who sold off their positions entirely by the end of the third quarter. At the top of the heap, Steve Cohen’s Point72 Asset Management dumped the largest position of the 700 funds monitored by Insider Monkey, valued at an estimated $10.7 million, and Behzad Aghazadeh’s venBio Select Advisor was right behind this move, as the fund dropped about $5.6 million worth of BLCM shares. These moves are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s also examine hedge fund activity in other stocks similar to Bellicum Pharmaceuticals Inc (NASDAQ:BLCM). We will take a look at Ruby Tuesday, Inc. (NYSE:RT), Peabody Energy Corporation (NYSE:BTU), Oriental Financial Group Inc. (NYSE:OFG), and CEVA, Inc. (NASDAQ:CEVA). This group of stocks’ market valuations resemble BLCM’s market valuation.

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $51 million. That figure was $117 million in BLCM’s case. Ruby Tuesday, Inc. (NYSE:RT) is the most popular stock in this table. On the other hand CEVA, Inc. (NASDAQ:CEVA) is the least popular one with only 11 bullish hedge fund positions. Bellicum Pharmaceuticals Inc (NASDAQ:BLCM) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard RT might be a better candidate to consider a long position.