Hedge Funds Are Betting On Furiex Pharmaceuticals Inc (FURX)

Page 1 of 2

Furiex Pharmaceuticals Inc (NASDAQ:FURX) was in 11 hedge funds’ portfolio at the end of the first quarter of 2013. FURX investors should be aware of an increase in enthusiasm from smart money in recent months. There were 4 hedge funds in our database with FURX positions at the end of the previous quarter.

According to most stock holders, hedge funds are viewed as slow, outdated investment tools of the past. While there are more than 8000 funds in operation today, we at Insider Monkey choose to focus on the bigwigs of this club, close to 450 funds. It is widely believed that this group has its hands on most of the smart money’s total capital, and by tracking their top investments, we have found a number of investment strategies that have historically outstripped Mr. Market. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points a year 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 beaten the S&P 500 index by 23.3 percentage points in 8 months (check out a sample of our picks).

Equally as beneficial, bullish insider trading sentiment is a second way to parse down the world of equities. Just as you’d expect, there are a number of incentives for a bullish insider to sell shares of his or her company, but just one, very simple reason why they would initiate a purchase. Several academic studies have demonstrated the impressive potential of this strategy if piggybackers understand what to do (learn more here).

Consequently, it’s important to take a glance at the latest action surrounding Furiex Pharmaceuticals Inc (NASDAQ:FURX).

How are hedge funds trading Furiex Pharmaceuticals Inc (NASDAQ:FURX)?

Heading into Q2, a total of 11 of the hedge funds we track were bullish in this stock, a change of 175% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes substantially.

Furiex Pharmaceuticals Inc (FURX)When looking at the hedgies we track, Sean Cullinan’s Point State Capital had the biggest position in Furiex Pharmaceuticals Inc (NASDAQ:FURX), worth close to $11.2 million, comprising 0.2% of its total 13F portfolio. Sitting at the No. 2 spot is Chuck Royce of Royce & Associates, with a $2.5 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other hedgies with similar optimism include D. E. Shaw’s D E Shaw, Israel Englander’s Millennium Management and Jim Simons’s Renaissance Technologies.

Consequently, key hedge funds have been driving this bullishness. Point State Capital, managed by Sean Cullinan, established the most valuable position in Furiex Pharmaceuticals Inc (NASDAQ:FURX). Point State Capital had 11.2 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated a $2 million position during the quarter. The following funds were also among the new FURX investors: Peter Rathjens Bruce Clarke and John Campbell’s Arrowstreet Capital, Richard Driehaus’s Driehaus Capital, and Cliff Asness’s AQR Capital Management.

How have insiders been trading Furiex Pharmaceuticals Inc (NASDAQ:FURX)?

Insider trading activity, especially when it’s bullish, is best served when the company in question has experienced transactions within the past half-year. Over the last six-month time period, Furiex Pharmaceuticals Inc (NASDAQ:FURX) has experienced zero unique insiders purchasing, and 2 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 Furiex Pharmaceuticals Inc (NASDAQ:FURX). These stocks are Safeguard Scientifics, Inc (NYSE:SFE), Net 1 UEPS Technologies Inc (NASDAQ:UEPS), Multi-Color Corporation (NASDAQ:LABL), Higher One Holdings, Inc (NYSE:ONE), and Consolidated Graphics, Inc. (NYSE:CGX). All of these stocks are in the business services industry and their market caps are similar to FURX’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

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

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!