Hedge Funds Aren’t Crazy About Aimmune Therapeutics Inc (AIMT) Anymore

Judging by the fact that Aimmune Therapeutics Inc (NASDAQ:AIMT) has sustained a declining sentiment from the smart money, we can see that there were a few money managers who were dropping their entire stakes heading into Q4. Interestingly, D E Shaw, one of the biggest hedge funds in the world, dropped the largest investment of the “upper crust” of funds followed by Insider Monkey, totaling about $0.2 million in stock. Paul Tudor Jones’s fund, Tudor Investment Corp, also said goodbye to its stock, about $0.1 million worth.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Aimmune Therapeutics Inc (NASDAQ:AIMT) but similarly valued. We will take a look at Dime Community Bancshares, Inc. (NASDAQ:DCOM), Richmont Mines Inc. (USA) (NYSEMKT:RIC), Cass Information Systems (NASDAQ:CASS), and Diamond Hill Investment Group, Inc. (NASDAQ:DHIL). This group of stocks’ market valuations match AIMT’s market valuation.

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 $45 million. That figure was $103 million in AIMT’s case. Richmont Mines Inc. (USA) (NYSEAMEX:RIC) is the most popular stock in this table. On the other hand Cass Information Systems (NASDAQ:CASS) is the least popular one with only 5 bullish hedge fund positions. Aimmune Therapeutics Inc (NASDAQ:AIMT) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard RIC might be a better candidate to consider taking a long position in.

Disclosure: None