Maxygen, Inc. (MAXY): Are Hedge Funds Right About This Stock?

Maxygen, Inc. (NASDAQ:MAXY) was in 6 hedge funds’ portfolio at the end of March. MAXY investors should pay attention to a decrease in activity from the world’s largest hedge funds recently. There were 7 hedge funds in our database with MAXY positions at the end of the previous quarter.

Maxygen, Inc. (NASDAQ:MAXY)In today’s marketplace, there are many indicators market participants can use to track their holdings. A couple of the most under-the-radar are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite fund managers can outperform the broader indices by a healthy margin (see just how much).

Equally as beneficial, bullish insider trading sentiment is a second way to parse down the investments you’re interested in. As the old adage goes: there are plenty of motivations for a bullish insider to get rid of shares of his or her company, but just one, very clear reason why they would buy. Many empirical studies have demonstrated the useful potential of this tactic if “monkeys” understand where to look (learn more here).

Keeping this in mind, we’re going to take a glance at the recent action surrounding Maxygen, Inc. (NASDAQ:MAXY).

Hedge fund activity in Maxygen, Inc. (NASDAQ:MAXY)

At Q1′s end, a total of 6 of the hedge funds we track were bullish in this stock, a change of -14% from the previous quarter. With the smart money’s capital changing hands, there exists a select group of noteworthy hedge fund managers who were boosting their stakes substantially.

According to our comprehensive database, Renaissance Technologies, managed by Jim Simons, holds the biggest position in Maxygen, Inc. (NASDAQ:MAXY). Renaissance Technologies has a $2.2 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Coming in second is Chuck Royce of Royce & Associates, with a $1.5 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other peers that hold long positions include John Overdeck and David Siegel’s Two Sigma Advisors, D. E. Shaw’s D E Shaw and Ken Griffin’s Citadel Investment Group.

Judging by the fact that Maxygen, Inc. (NASDAQ:MAXY) has faced a declination in interest from hedge fund managers, logic holds that there is a sect of fund managers that decided to sell off their entire stakes at the end of the first quarter. Intriguingly, Cliff Asness’s AQR Capital Management said goodbye to the largest stake of the “upper crust” of funds we watch, valued at about $0 million in stock. These bearish behaviors are interesting, as aggregate hedge fund interest fell by 1 funds at the end of the first quarter.

What have insiders been doing with Maxygen, Inc. (NASDAQ:MAXY)?

Bullish insider trading is particularly usable when the company in question has seen transactions within the past 180 days. Over the latest 180-day time frame, Maxygen, Inc. (NASDAQ:MAXY) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

With the results exhibited by Insider Monkey’s time-tested strategies, retail investors must always keep an eye on hedge fund and insider trading sentiment, and Maxygen, Inc. (NASDAQ:MAXY) shareholders fit into this picture quite nicely.

Click here to learn why you should track hedge funds

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!