Hedge Funds Are Crazy About Idenix Pharmaceuticals Inc (NASDAQ:IDIX)

Idenix Pharmaceuticals Inc (NASDAQ:IDIX)Is Idenix Pharmaceuticals Inc (NASDAQ:IDIX) the right investment to pursue these days? The smart money is in an optimistic mood. The number of long hedge fund bets went up by 1 lately.

In the 21st century investor’s toolkit, there are many metrics investors can use to analyze stocks. A duo of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite investment managers can outperform the market by a solid margin (see just how much).

Just as integral, bullish insider trading sentiment is a second way to break down the world of equities. Obviously, there are a number of motivations for an insider to sell shares of his or her company, but only one, very obvious reason why they would behave bullishly. Plenty of empirical studies have demonstrated the market-beating potential of this tactic if you understand where to look (learn more here).

With all of this in mind, we’re going to take a glance at the latest action regarding Idenix Pharmaceuticals Inc (NASDAQ:IDIX).

What does the smart money think about Idenix Pharmaceuticals Inc (NASDAQ:IDIX)?

At the end of the fourth quarter, a total of 17 of the hedge funds we track held long positions in this stock, a change of 6% from the third quarter. With hedgies’ sentiment swirling, there exists a few noteworthy hedge fund managers who were increasing their holdings considerably.

Of the funds we track, Seth Klarman’s Baupost Group had the most valuable position in Idenix Pharmaceuticals Inc (NASDAQ:IDIX), worth close to $100 million, accounting for 3.2% of its total 13F portfolio. Coming in second is Brookside Capital, managed by Bain Capital, which held a $61 million position; the fund has 1.4% of its 13F portfolio invested in the stock. Some other hedgies that are bullish include Roberto Mignone’s Bridger Management, Phill Gross and Robert Atchinson’s Adage Capital Management and Jacob Doft’s Highline Capital Management.

As aggregate interest increased, specific money managers were leading the bulls’ herd. Bridger Management, managed by Roberto Mignone, created the most valuable position in Idenix Pharmaceuticals Inc (NASDAQ:IDIX). Bridger Management had 14 million invested in the company at the end of the quarter. Sander Gerber’s Hudson Bay Capital Management also made a $1 million investment in the stock during the quarter. The other funds with new positions in the stock are Mark Kingdon’s Kingdon Capital and Barton Biggs’s Traxis Partners.

What do corporate executives and insiders think about Idenix Pharmaceuticals Inc (NASDAQ:IDIX)?

Insider trading activity, especially when it’s bullish, is at its handiest when the primary stock in question has seen transactions within the past 180 days. Over the latest six-month time period, Idenix Pharmaceuticals Inc (NASDAQ:IDIX) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

With the returns shown by our strategies, everyday investors should always pay attention to hedge fund and insider trading sentiment, and Idenix Pharmaceuticals Inc (NASDAQ:IDIX) applies perfectly to this mantra.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

Insider Monkey’s small-cap strategy returned 29.2% between September 2012 and February 2013 versus 8.7% for the S&P 500 index. Try it now by clicking the link above.

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

Top 10 Most Expensive Luxury Cars in the World – 2014

Killer Small Business Ideas

The 50 Best Personal Finance Blogs

Most Expensive Apartments in New York City

Bloodiest UFC Fights Ever Fought

Most Expensive Rum Brands in the World

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!