Hedge Funds Are Selling BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was in 24 hedge funds’ portfolio at the end of December. BMRN investors should be aware of a decrease in support from the world’s most elite money managers in recent months. There were 33 hedge funds in our database with BMRN positions at the end of the previous quarter.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)If you’d ask most investors, hedge funds are assumed to be unimportant, old financial vehicles of the past. While there are greater than 8000 funds in operation today, we at Insider Monkey hone in on the bigwigs of this group, around 450 funds. It is estimated that this group controls the majority of the hedge fund industry’s total asset base, and by paying attention to their top stock picks, we have identified a number of investment strategies that have historically outperformed the broader indices. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points annually for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have trumped the S&P 500 index by 25 percentage points in 6.5 month (see all of our picks from August).

Just as beneficial, optimistic insider trading activity is another way to parse down the world of equities. Obviously, there are plenty of reasons for an insider to drop shares of his or her company, but only one, very simple reason why they would initiate a purchase. Many academic studies have demonstrated the valuable potential of this method if you know where to look (learn more here).

Consequently, we’re going to take a look at the recent action surrounding BioMarin Pharmaceutical Inc. (NASDAQ:BMRN).

What have hedge funds been doing with BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)?

In preparation for this year, a total of 24 of the hedge funds we track were bullish in this stock, a change of -27% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes considerably.

When looking at the hedgies we track, Steven Cohen’s SAC Capital Advisors had the largest position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), worth close to $119 million, accounting for 0.6% of its total 13F portfolio. Sitting at the No. 2 spot is Jérôme Pfund and Michael Sjöström of Sectoral Asset Management, with a $104 million position; 0.1% of its 13F portfolio is allocated to the company. Remaining hedgies that are bullish include John Griffin’s Blue Ridge Capital, Samuel Isaly’s OrbiMed Advisors and William Leland Edwards’s Palo Alto Investors.

Due to the fact that BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has faced a declination in interest from hedge fund managers, we can see that there is a sect of hedgies that elected to cut their full holdings in Q4. Interestingly, Jacob Gottlieb’s Visium Asset Management cut the largest position of the 450+ funds we key on, valued at an estimated $42 million in stock., and Dan Loeb of Third Point was right behind this move, as the fund cut about $40 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest fell by 9 funds in Q4.

What do corporate executives and insiders think about BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)?

Insider purchases made by high-level executives is best served when the company we’re looking at has experienced transactions within the past six months. Over the last 180-day time period, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has experienced 3 unique insiders purchasing, and 13 insider sales (see the details of insider trades here).

With the results exhibited by the aforementioned tactics, everyday investors must always watch hedge fund and insider trading activity, and BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is no exception.

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.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

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!