How Agile Therapeutics Inc (AGRX) Stacks Up Against Its Peers

Now, specific money managers were leading the bulls’ herd. Pura Vida Investments, led by Efrem Kamen, established the largest position in Agile Therapeutics Inc (NASDAQ:AGRX). Pura Vida Investments had $0.2 million invested in the company at the end of the quarter. James Dondero’s Highland Capital Management also initiated a $0.2 million position during the quarter. The only other fund with a brand new AGRX position is Renaissance Technologies, one of the largest hedge funds in the world.

Let’s check out hedge fund activity in other stocks similar to Agile Therapeutics Inc (NASDAQ:AGRX). These stocks are Hornbeck Offshore Services, Inc. (NYSE:HOS), Dimension Therapeutics Inc (NASDAQ:DMTX), Paragon Commercial Corp (NASDAQ:PBNC), and Quantum Corp (NYSE:QTM). All of these stocks’ market caps are closest to AGRX’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $50 million. That figure was $43 million in AGRX’s case. Quantum Corp (NYSE:QTM) is the most popular stock in this table. On the other hand Paragon Commercial Corp (NASDAQ:PBNC) is the least popular one with only 4 bullish hedge fund positions. Agile Therapeutics Inc (NASDAQ:AGRX) 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 QTM might be a better candidate to consider taking a long position in.