Should You Buy Conatus Pharmaceuticals Inc (CNAT)?

As aggregate interest increased, key money managers were leading the bulls’ herd. Renaissance Technologies also initiated a $0.1 million position during the quarter. The only other fund with a brand new CNAT position is Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s go over hedge fund activity in other stocks similar to Conatus Pharmaceuticals Inc (NASDAQ:CNAT). These stocks are CEL-SCI Corporation (NYSEMKT:CVM), Universal Technical Institute, Inc. (NYSE:UTI), JRjr33 Inc (NYSEMKT:JRJR), and Intersections Inc. (NASDAQ:INTX). This group of stocks’ market valuations resemble CNAT’s market valuation.

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $7 million. That figure was $1 million in CNAT’s case. Universal Technical Institute, Inc. (NYSE:UTI) is the most popular stock in this table. On the other hand CEL-SCI Corporation (NYSEMKT:CVM) is the least popular one with only 4 bullish hedge fund positions. Conatus Pharmaceuticals Inc (NASDAQ:CNAT) 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 UTI might be a better candidate to consider taking a long position in.

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Disclosure: None