How Hedge Funds Played the Audentes Therapeutics Inc (BOLD) IPO

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Let’s also examine hedge fund activity in other stocks similar to Audentes Therapeutics Inc (NASDAQ:BOLD). We will take a look at Beazer Homes USA, Inc. (NYSE:BZH), Baldwin & Lyons Inc (NASDAQ:BWINB), CECO Environmental Corp. (NASDAQ:CECE), and Sonus Networks, Inc. (NASDAQ:SONS). All of these stocks’ market caps are closest to BOLD’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BZH 15 87093 4
BWINB 7 61724 1
CECE 18 49106 6
SONS 15 36973 3

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $59 million. That figure was $167 million in BOLD’s case. CECO Environmental Corp. (NASDAQ:CECE) is the most popular stock in this table. On the other hand Baldwin & Lyons Inc (NASDAQ:BWINB) is the least popular one with only 7 bullish hedge fund positions. Audentes Therapeutics Inc (NASDAQ:BOLD) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal, as we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CECE might be a better candidate to consider taking a long position in, though we’re impressed by the amount of money invested in BOLD.

Disclosure: None

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