Here is What Hedge Funds Think About Agios Pharmaceuticals Inc (AGIO)

Now, key money managers have jumped into Agios Pharmaceuticals Inc (NASDAQ:AGIO) headfirst. Jeremy Green’s Redmile Group assembled the biggest position in Agios Pharmaceuticals Inc (NASDAQ:AGIO), followed by Hal Mintz’s Sabby Capital, which initiated a $21.7 million position during the quarter. The other funds with brand new AGIO positions are Principal Global Investors’s Columbus Circle Investors, Ken Griffin’s Citadel Investment Group, and Oleg Nodelman’s EcoR1 Capital.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Agios Pharmaceuticals Inc (NASDAQ:AGIO) but similarly valued. We will take a look at FIRSTSERVICE CORPORATION (TSE:FSV), LogMeIn Inc (NASDAQ:LOGM), Kemper Corporation (NYSE:KMPR), and Radius Health Inc (NASDAQ:RDUS). This group of stocks’ market values match AGIO’s market value.

As you can see these stocks had an average of 17 hedge funds with bullish positions and the average amount invested in these stocks was $243 million. That figure was $219 million in AGIO’s case. LogMeIn Inc (NASDAQ:LOGM) is the most popular stock in this table. On the other hand Kemper Corporation (NYSE:KMPR) is the least popular one with only 5 bullish hedge fund positions. Agios Pharmaceuticals Inc (NASDAQ:AGIO) 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 LOGM might be a better candidate to consider a long position.

Disclosure: none.