Is Paratek Pharmaceuticals Inc (PRTK) a Good Stock to Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that cut their entire stakes in the stock during the third quarter. Interestingly, Mark Lampert’s Biotechnology Value Fund / BVF Inc cut the biggest stake of the “upper crust” of funds watched by Insider Monkey, totaling an estimated $8 million in stock, and James A. Silverman’s Opaleye Management was right behind this move, as the fund sold off about $2 million worth of shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Paratek Pharmaceuticals Inc (NASDAQ:PRTK) but similarly valued. We will take a look at Adaptimmune Therapeutics PLC – ADR (NASDAQ:ADAP), Easterly Acquisition Corp (NASDAQ:EACQ), Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS), and Enova International Inc (NYSE:ENVA). This group of stocks’ market values match PRTK’s market value.

As you can see these stocks had an average of 14 funds with bullish positions and the average amount invested in these stocks was $57 million, compared to $64 million in PRTK’s case. Enova International Inc (NYSE:ENVA) is the most popular stock in this table. On the other hand Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS) is the least popular one with only 10 bullish hedge fund positions. Paratek Pharmaceuticals Inc (NASDAQ:PRTK) 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 Enova International Inc (NYSE:ENVA) might be a better candidate to consider taking a long position in.