Hedge Funds Are Betting On BioTime, Inc. (BTX)

As aggregate interest increased, key hedge funds have jumped into BioTime, Inc. (NYSEMKT:BTX) headfirst. Granite Point Capital, led by Warren Lammert, assembled the most valuable position in BioTime, Inc. (NYSEAMEX:BTX). According to its latest 13F filing, the fund had $0.3 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also made a $47,000 investment in the stock during the quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as BioTime, Inc. (NYSEMKT:BTX) but similarly valued. These stocks are Teligent Inc (NASDAQ:TLGT), Gold Resource Corporation (NYSEAMEX:GORO), Neuroderm Ltd (NASDAQ:NDRM), and Resolute Energy Corp (NYSE:REN). This group of stocks’ market caps are similar to BTX’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $73 million. That figure was $102 million in BTX’s case. Neuroderm Ltd (NASDAQ:NDRM) is the most popular stock in this table. On the other hand Gold Resource Corporation (NYSEAMEX:GORO) is the least popular one with only 6 bullish hedge fund positions. BioTime, Inc. (NYSEMKT:BTX) 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 NDRM might be a better candidate to consider taking a long position in.

Disclosure: None