Hedge Funds Are Buying Quotient Ltd (QTNT)

As aggregate interest increased, specific money managers were leading the bulls’ herd. Cormorant Asset Management, managed by Bihua Chen, initiated the most outsized position in Quotient Ltd (NASDAQ:QTNT). Cormorant Asset Management had $1.6 million invested in the company at the end of the quarter. Brian Taylor’s Pine River Capital Management also made a $0.8 million investment in the stock during the quarter. The other funds with new positions in the stock are Israel Englander’s Millennium Management, Perceptive Advisors, and Brian Taylor’s Pine River Capital Management.

Let’s now review hedge fund activity in other stocks similar to Quotient Ltd (NASDAQ:QTNT). We will take a look at Hallmark Financial Services, Inc. (NASDAQ:HALL), Wi-LAN Inc – US listing (NASDAQ:WILN), Horizon Bancorp (NASDAQ:HBNC), and XenoPort, Inc. (NASDAQ:XNPT). This group of stocks’ market valuations are closest to Quotient Ltd (NASDAQ:QTNT)’s market valuation.

As you can see, these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $28 million. That figure was $85 million in Quotient Ltd (NASDAQ:QTNT)’s case. XenoPort, Inc. (NASDAQ:XNPT) is the most popular stock in this table. On the other hand, Hallmark Financial Services, Inc. (NASDAQ:HALL) is the least popular one with only 4 bullish hedge fund positions. Quotient Ltd (NASDAQ:QTNT) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, XenoPort, Inc. (NASDAQ:XNPT) might be a better candidate to consider a long position.