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.
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.