Hedge Funds Are Crazy About Astex Pharmaceuticals, Inc. (ASTX) – Keryx Biopharmaceuticals (KERX), Raptor Pharmaceutical Corp. (RPTP)

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Astex Pharmaceuticals, Inc. (NASDAQ:ASTX) was in 9 hedge funds’ portfolio at the end of the fourth quarter of 2012. ASTX has experienced an increase in activity from the world’s largest hedge funds recently. There were 7 hedge funds in our database with ASTX holdings at the end of the previous quarter.

At the moment, there are plenty of indicators shareholders can use to analyze stocks. A duo of the most innovative are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the top investment managers can outperform the S&P 500 by a significant amount (see just how much).

Astex Pharmaceuticals, Inc. (NASDAQ:ASTX)

Just as key, positive insider trading activity is another way to break down the investments you’re interested in. Obviously, there are a variety of stimuli for an insider to get rid of shares of his or her company, but just one, very clear reason why they would buy. Several academic studies have demonstrated the valuable potential of this strategy if piggybackers understand where to look (learn more here).

Consequently, it’s important to take a glance at the latest action regarding Astex Pharmaceuticals, Inc. (NASDAQ:ASTX).

How are hedge funds trading Astex Pharmaceuticals, Inc. (NASDAQ:ASTX)?

In preparation for this year, a total of 9 of the hedge funds we track held long positions in this stock, a change of 29% from the previous quarter. With the smart money’s capital changing hands, there exists a few notable hedge fund managers who were upping their holdings meaningfully.

When looking at the hedgies we track, Jim Simons’s Renaissance Technologies had the biggest position in Astex Pharmaceuticals, Inc. (NASDAQ:ASTX), worth close to $1.4 million, comprising less than 0.1%% of its total 13F portfolio. Coming in second is Perceptive Advisors, managed by Joseph Edelman, which held a $1.3 million position; 0.2% of its 13F portfolio is allocated to the stock. Remaining peers that are bullish include Zeke Ashton’s Centaur Capital Partners, Gregory Fraser, Rudolph Kluiber, and Timothy Kroch’s GRT Capital Partners and Glenn Russell Dubin’s Highbridge Capital Management.

Consequently, some big names were breaking ground themselves. Perceptive Advisors, managed by Joseph Edelman, assembled the largest position in Astex Pharmaceuticals, Inc. (NASDAQ:ASTX). Perceptive Advisors had 1.3 million invested in the company at the end of the quarter. Zeke Ashton’s Centaur Capital Partners also initiated a $1.2 million position during the quarter. The only other fund with a new position in the stock is Glenn Russell Dubin’s Highbridge Capital Management.

How are insiders trading Astex Pharmaceuticals, Inc. (NASDAQ:ASTX)?

Bullish insider trading is at its handiest when the primary stock in question has experienced transactions within the past half-year. Over the last six-month time frame, Astex Pharmaceuticals, Inc. (NASDAQ:ASTX) has experienced zero unique insiders purchasing, and 3 insider sales (see the details of insider trades here).

Let’s check out hedge fund and insider activity in other stocks similar to Astex Pharmaceuticals, Inc. (NASDAQ:ASTX). These stocks are Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL), Keryx Biopharmaceuticals (NASDAQ:KERX), Raptor Pharmaceutical Corp. (NASDAQ:RPTP), Endocyte, Inc. (NASDAQ:ECYT), and Kythera Biopharmaceuticals Inc (NASDAQ:KYTH). This group of stocks are the members of the drug manufacturers – major industry and their market caps are closest to ASTX’s market cap.

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