Hedge Funds Are Selling Keryx Biopharmaceuticals (KERX)

Seeing as Keryx Biopharmaceuticals (NASDAQ:KERX) has faced bearish sentiment from the entirety of the hedge funds we track, logic holds that there exists a select few funds that decided to sell off their entire stakes by the end of the third quarter. At the top of the heap, Herb Wagner’s FinePoint Capital dropped the largest stake of the 700 funds monitored by Insider Monkey, totaling an estimated $16 million in stock, and Bihua Chen’s Cormorant Asset Management was right behind this move, as the fund dumped about $8.2 million worth of shares. These moves are interesting, as aggregate hedge fund interest dropped by 2 funds by the end of the third quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Keryx Biopharmaceuticals (NASDAQ:KERX) but similarly valued. We will take a look at Mistras Group, Inc. (NYSE:MG), Omega Protein Corporation (NYSE:OME), THL Credit, Inc. (NASDAQ:TCRD), and Corindus Vascular Robotics Inc (NYSEMKT:CVRS). All of these stocks’ market caps resemble KERX’s market cap.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $40 million. KERX was miles ahead, having attracted some $123 million in hedge funds’ investments. Mistras Group, Inc. (NYSE:MG) is the most popular stock in this table, while Corindus Vascular Robotics Inc (NYSEMKT:CVRS) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Keryx Biopharmaceuticals (NASDAQ:KERX) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.