Is Repros Therapeutics Inc (NASDAQ:RPRX) worth your attention right now? Prominent investors are turning bullish. The number of bullish hedge fund positions increased by 1 in recent months.
At the moment, there are dozens of methods market participants can use to monitor publicly traded companies. A couple of the best are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the top hedge fund managers can trounce the market by a healthy margin (see just how much).
Just as integral, bullish insider trading sentiment is a second way to break down the marketplace. Obviously, there are a number of reasons for an upper level exec to downsize shares of his or her company, but just one, very clear reason why they would initiate a purchase. Various academic studies have demonstrated the valuable potential of this method if investors understand what to do (learn more here).
With these "truths" under our belt, we're going to take a look at the latest action encompassing Repros Therapeutics Inc (NASDAQ:RPRX).
In preparation for this year, a total of 12 of the hedge funds we track were bullish in this stock, a change of 9% from the previous quarter. With hedgies' capital changing hands, there exists an "upper tier" of noteworthy hedge fund managers who were upping their holdings significantly.
When looking at the hedgies we track, Joseph Edelman's Perceptive Advisors had the largest position in Repros Therapeutics Inc (NASDAQ:RPRX), worth close to $45.1 million, comprising 8% of its total 13F portfolio. Sitting at the No. 2 spot is Julian Baker and Felix Baker of Baker Bros. Advisors, with a $23.6 million position; the fund has 0.6% of its 13F portfolio invested in the stock. Remaining peers with similar optimism include Daniel Gold's QVT Financial, Daniel Gold's QVT Financial and Samuel Isaly's OrbiMed Advisors.
Consequently, some big names were breaking ground themselves. Deerfield Management, managed by James E. Flynn, assembled the most valuable position in Repros Therapeutics Inc (NASDAQ:RPRX). Deerfield Management had 3.2 million invested in the company at the end of the quarter. Charles Davidson's Wexford Capital also made a $2.3 million investment in the stock during the quarter. The other funds with brand new RPRX positions are Israel Englander's Millennium Management and Steven Cohen's SAC Capital Advisors.
Insider trading activity, especially when it's bullish, is best served when the primary stock in question has experienced transactions within the past six months. Over the latest six-month time period, Repros Therapeutics Inc (NASDAQ:RPRX) has seen 1 unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let's also examine hedge fund and insider activity in other stocks similar to Repros Therapeutics Inc (NASDAQ:RPRX). These stocks are PROLOR Biotech Inc (NYSEAMEX:PBTH), Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS), Cerus Corporation (NASDAQ:CERS), NewLink Genetics Corp (NASDAQ:NLNK), and XOMA Corp (NASDAQ:XOMA). This group of stocks are in the biotechnology industry and their market caps are closest to RPRX's market cap.
|Company Name||# of Hedge Funds||# of Insiders Buying||# of Insiders Selling|
|PROLOR Biotech Inc (NYSEAMEX:PBTH)||3||0||0|
|Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS)||10||0||0|
|Cerus Corporation (NASDAQ:CERS)||6||2||0|
|NewLink Genetics Corp (NASDAQ:NLNK)||3||1||2|
|XOMA Corp (NASDAQ:XOMA)||7||1||4|
With the returns exhibited by our studies, everyday investors should always keep an eye on hedge fund and insider trading activity, and Repros Therapeutics Inc (NASDAQ:RPRX) is no exception.