Here is What Hedge Funds Think About Seres Therapeutics Inc (MCRB)

Judging by the fact that Seres Therapeutics Inc (NASDAQ:MCRB) has faced a declination in interest from the entirety of the hedge funds we track, we can see that there exists a select few hedge funds that decided to sell off their full holdings in the third quarter. At the top of the heap, Ken Griffin’s Citadel Investment Group dropped the biggest position of the 700 funds watched by Insider Monkey, worth about $8 million in stock, and Joseph Edelman’s Perceptive Advisors was right behind this move, as the fund dropped about $2.1 million worth of shares. These moves are intriguing to say the least, as total hedge fund interest fell by 3 funds in the third quarter.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Seres Therapeutics Inc (NASDAQ:MCRB) but similarly valued. We will take a look at NuStar GP Holdings, LLC (NYSE:NSH), SPS Commerce, Inc. (NASDAQ:SPSC), Texas Pacific Land Trust (NYSE:TPL), and Depomed Inc (NASDAQ:DEPO). All of these stocks’ market caps are similar to Seres Therapeutics Inc’s market cap.

As you can see these stocks had an average of 13.25 hedge funds with bullish positions and the average amount invested in these stocks was $149 million. That figure was $43 million in Seres Therapeutics Inc’s case. Depomed Inc (NASDAQ:DEPO) is the most popular stock in this table. On the other hand Texas Pacific Land Trust (NYSE:TPL) is the least popular one with only 5 bullish hedge fund positions. Seres Therapeutics Inc (NASDAQ:MCRB) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Depomed Inc might be a better candidate to consider a long position.