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Is BioDelivery Sciences International, Inc. (BDSI) Going to Burn These Hedge Funds?

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BioDelivery Sciences International, Inc. (NASDAQ:BDSI) shareholders have witnessed a decrease in hedge fund sentiment of late; stagnant interest is a bearish indicator in our experience.

BioDelivery Sciences International, Inc. (NASDAQ:BDSI)In the financial world, there are plenty of metrics shareholders can use to watch stocks. A pair of the most under-the-radar are hedge fund and insider trading movement. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite money managers can trounce the market by a significant amount (see just how much).

Equally as beneficial, optimistic insider trading activity is a second way to break down the marketplace. Obviously, there are a number of stimuli for an upper level exec to cut shares of his or her company, but only one, very simple reason why they would behave bullishly. Various empirical studies have demonstrated the impressive potential of this method if shareholders understand where to look (learn more here).

Consequently, we’re going to take a gander at the latest action encompassing BioDelivery Sciences International, Inc. (NASDAQ:BDSI).

Hedge fund activity in BioDelivery Sciences International, Inc. (NASDAQ:BDSI)

Heading into Q2, a total of 9 of the hedge funds we track held long positions in this stock, a change of 0% from the first quarter. With the smart money’s sentiment swirling, there exists an “upper tier” of notable hedge fund managers who were increasing their stakes meaningfully.

When looking at the hedgies we track, Phill Gross and Robert Atchinson’s Adage Capital Management had the largest position in BioDelivery Sciences International, Inc. (NASDAQ:BDSI), worth close to $9.7 million, comprising less than 0.1%% of its total 13F portfolio. The second largest stake is held by Broadfin Capital, managed by Kevin Kotler, which held a $8.5 million position; 1.9% of its 13F portfolio is allocated to the stock. Some other peers that are bullish include James E. Flynn’s Deerfield Management, Julian Baker and Felix Baker’s Baker Bros. Advisors and Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners.

How are insiders trading BioDelivery Sciences International, Inc. (NASDAQ:BDSI)?

Insider buying is particularly usable when the company in focus has experienced transactions within the past 180 days. Over the latest 180-day time frame, BioDelivery Sciences International, Inc. (NASDAQ:BDSI) has experienced 2 unique insiders buying, and 2 insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to BioDelivery Sciences International, Inc. (NASDAQ:BDSI). These stocks are Cytokinetics, Inc. (NASDAQ:CYTK), ArQule, Inc. (NASDAQ:ARQL), ZIOPHARM Oncology Inc. (NASDAQ:ZIOP), Pain Therapeutics, Inc. (NASDAQ:PTIE), and Amicus Therapeutics, Inc. (NASDAQ:FOLD). This group of stocks are the members of the biotechnology industry and their market caps are similar to BDSI’s market cap.

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