At Insider Monkey we track the activity of some of the best-performing hedge funds like Appaloosa Management, Baupost, and Third Point because we determined that some of the stocks that they are collectively bullish on can help us generate returns above the broader indices. Out of thousands of stocks that hedge funds invest in, small-caps can provide the best returns over the long term due to the fact that these companies are less efficiently priced and are usually under the radars of mass-media, analysts and dumb money. This is why we follow the smart money moves in the small-cap space.
SCYNEXIS Inc (NASDAQ:SCYX) shares haven’t seen a lot of action during the third quarter. Overall, hedge fund sentiment was unchanged. The stock was in 9 hedge funds’ portfolios at the end of September. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Lakeland Industries, Inc. (NASDAQ:LAKE), Nicholas Financial, Inc. (NASDAQ:NICK), and Managed High Yield Plus Fund Inc. (NYSE:HYF) to gather more data points.
Keeping this in mind, we’re going to take a gander at the fresh action surrounding SCYNEXIS Inc (NASDAQ:SCYX).
How have hedgies been trading SCYNEXIS Inc (NASDAQ:SCYX)?
When looking at the institutional investors followed by Insider Monkey, Kevin Kotler’s Broadfin Capital has the biggest position in SCYNEXIS Inc (NASDAQ:SCYX), worth close to $5.6 million, accounting for 0.3% of its total 13F portfolio. On Broadfin Capital’s heels is James E. Flynn of Deerfield Management, with a $5 million position; 0.2% of its 13F portfolio is allocated to the stock. Remaining professional money managers that are bullish include Kris Jenner, Gordon Bussard, Graham McPhail’s Rock Springs Capital Management, Jacob Gottlieb’s Visium Asset Management and Joseph Edelman’s Perceptive Advisors.