How Concert Pharmaceuticals Inc (CNCE) Stacks Up Against Its Peers

With a general bullishness amongst the heavyweights, key hedge funds were breaking ground themselves. Alyeska Investment Group, led by Anand Parekh, established the most outsized position in Concert Pharmaceuticals Inc (NASDAQ:CNCE). Alyeska Investment Group had $3.3 million invested in the company at the end of the quarter. Peter Algert and Kevin Coldiron’s Algert Coldiron Investors also initiated a $0.2 million position during the quarter. The only other fund with a new position in the stock is Glenn Russell Dubin’s Highbridge Capital Management.

Let’s also examine hedge fund activity in other stocks similar to Concert Pharmaceuticals Inc (NASDAQ:CNCE). These stocks are Titan Machinery Inc. (NASDAQ:TITN), Utah Medical Products, Inc. (NASDAQ:UTMD), Merchants Bancshares,Inc. (NASDAQ:MBVT), and Hudson Technologies, Inc. (NASDAQ:HDSN). This group of stocks’ market valuations are closest to CNCE’s market valuation.

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $17 million. That figure was $47 million in CNCE’s case. Hudson Technologies, Inc. (NASDAQ:HDSN) is the most popular stock in this table. On the other hand Merchants Bancshares,Inc. (NASDAQ:MBVT) is the least popular one with only 2 bullish hedge fund positions. Compared to these stocks Concert Pharmaceuticals Inc (NASDAQ:CNCE) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None