Hedge Funds Are Betting On AveXis Inc (AVXS)

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As aggregate interest increased, specific money managers have been driving this bullishness. Marshall Wace LLP  established the biggest position in AveXis Inc (NASDAQ:AVXS). Marshall Wace LLP had $17.7 million invested in the company at the end of the quarter. Great Point Partners also initiated a $15.7 million position during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Israel Englander’s Millennium Management, and Benjamin A. Smith’s Laurion Capital Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as AveXis Inc (NASDAQ:AVXS) but similarly valued. These stocks are Trina Solar Limited (ADR) (NYSE:TSL), New Senior Investment Group Inc (NYSE:SNR), Patrick Industries, Inc. (NASDAQ:PATK), and Fortress Transprtn and Infr Investrs LLC (NYSE:FTAI). This group of stocks’ market valuations resemble AVXS’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TSL 18 206998 3
SNR 17 114119 2
PATK 17 110883 -2
FTAI 5 6685 2

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $110 million. That figure was $298 million in AVXS’s case. Trina Solar Limited (ADR) (NYSE:TSL) is the most popular stock in this table. On the other hand Fortress Transprtn and Infr Investrs LLC (NYSE:FTAI) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks AveXis Inc (NASDAQ:AVXS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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Disclosure: None




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