Is Sunesis Pharmaceuticals, Inc. (SNSS) A Good Stock To Buy?

Due to the fact that Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) has experienced falling interest from the smart money, we can see that there lies a certain “tier” of fund managers that elected to cut their positions entirely by the end of the third quarter. It’s worth mentioning that Jeffrey Jay and David Kroin’s Great Point Partners said goodbye to the biggest investment of all the hedgies watched by Insider Monkey, comprising an estimated $4.5 million in stock. William Leland Edwards’s fund, Palo Alto Investors, also dropped its stock, about $3.8 million worth.

Let’s now take a look at hedge fund activity in other stocks similar to Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS). We will take a look at Calithera Biosciences Inc (NASDAQ:CALA), Perceptron, Inc. (NASDAQ:PRCP), Innodata Inc (NASDAQ:INOD), and InfuSystem Holdings, Inc. (NYSEAMEX:INFU). This group of stocks’ market values are closest to SNSS’s market value.

As you can see these stocks had an average of 4.25 hedge funds with bullish positions and the average amount invested in these stocks was $12 million. That figure was $18 million in SNSS’s case. Calithera Biosciences Inc (NASDAQ:CALA) is the most popular stock in this table. On the other hand InfuSystem Holdings, Inc. (NYSEAMEX:INFU) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) 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.

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