Hedge Funds Are Dumping Lantheus Holdings Inc (LNTH)

Judging by the fact that Lantheus Holdings Inc (NASDAQ:LNTH) has experienced falling interest from the aggregate hedge fund industry, it’s safe to say that there is a sect of fund managers that decided to sell off their entire stakes by the end of the third quarter. It’s worth mentioning that Anand Parekh’s Alyeska Investment Group dumped the biggest investment of the 700 funds monitored by Insider Monkey, totaling close to $0.5 million in stock. Gavin Saitowitz and Cisco J. del Valle’s fund, Springbok Capital, also sold off its stock, about $0 million worth. These moves are important to note, as total hedge fund interest fell by 1 funds by the end of the third quarter.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Lantheus Holdings Inc (NASDAQ:LNTH) but similarly valued. We will take a look at Abeona Therapeutics Inc (NASDAQ:ABEO), Fenix Parts Inc (NASDAQ:FENX), Planar Systems, Inc. (NASDAQ:PLNR), and JMP Group Inc. (NYSE:JMP). This group of stocks’ market values are closest to LNTH’s market value.

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 $22 million, compared $11 million in LNTH’s case. Planar Systems, Inc. (NASDAQ:PLNR) is the most popular stock in this table. On the other hand, JMP Group Inc. (NYSE:JMP) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Lantheus Holdings Inc (NASDAQ:LNTH) is even less popular than JMP. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.