Is Cascadian Therapeutics Inc (USA) (CASC) A Good Stock To Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that dropped their entire stakes in the stock during the third quarter. Intriguingly, First Eagle Investment Management dropped the biggest position of the “upper crust” of funds studied by Insider Monkey, valued at close to $0.4 million in stock. Benjamin A. Smith’s fund, Laurion Capital Management, also cut its stock, about $0.3 million worth.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Cascadian Therapeutics Inc (USA) (NASDAQ:CASC) but similarly valued. These stocks are Farmers Capital Bank Corp (NASDAQ:FFKT), Verso Corporation (NYSE:VRS), Adaptimmune Therapeutics PLC – ADR (NASDAQ:ADAP), and Daqo New Energy Corp (NYSE:DQ). This group of stocks’ market values resemble CASC’s market value.

As you can see these stocks had an average of 9.5 hedge funds with bullish positions and the average amount invested in these stocks was $41 million. That figure was $89 million in CASC’s case. Verso Corporation (NYSE:VRS) is the most popular stock in this table. On the other hand Farmers Capital Bank Corp (NASDAQ:FFKT) is the least popular one with only 3 bullish hedge fund positions. Cascadian Therapeutics Inc (USA) (NASDAQ:CASC) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard VRS might be a better candidate to consider taking a long position in.

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