These Stocks Made Big After-Hours Moves, And Hedge Funds Love One Of Them

Proofpoint Inc (NASDAQ:PFPT) made gains during the regular trading hours, of 2.65%, as well as the aforementioned gains during the after-hours session. The security firm has received an average rating of ‘Strong Buy’ from 11 brokerage firms tracking the stock,along with a consensus price target of $73.44, indicating an upside potential of 16.40%. Proofpoint has had an excellent run so far in 2015, with its shares moving 19.51% higher year-to-date. However, the hedge funds in our database didn’t share the same enthusiasm as other investors, with the number of hedge funds holding positions in Proofpoint dropping by two to 21 by the end of the second quarter. The aggregate holdings followed a similar pattern, declining by 11.60% to $264.62 million. Among the hedge funds that we track at Insider Monkey, Donald Chiboucis‘ Columbus Circle Investors and Jericho Capital Asset Management held large positions in Proofpoint Inc (NASDAQ:PFPT), comprising 1.37 million shares and 727,740 shares, respectively.

Relypsa Inc (NASDAQ:RLYP) made its after-hours gains after preliminary discussions between rival ZS Pharma Inc (NASDAQ:ZSPH) and Swiss drug-maker Actelion Ltd were revealed. There was no official confirmation from either of the companies, however, Bloomberg reported that the Swiss company offered $2.5 billion for ZS Pharma in August. Relypsa Inc (NASDAQ:RLYP)’s shares gained 7.95% during the regular trading hours. Ling Wang of Oppenheimer reiterated an ‘Outperform’ rating for the biopharmaceutical company on September 8, with a price target of $55, nearly double its current share price. The shares of Relypsa Inc (NASDAQ:RLYP) are still down by 16.56% year-to-date. The smart money held a strong outlook for the company, with the hedge funds in our database owning 39.90% of its outstanding shares at the end of the second quarter. The number of hedge funds holding positions in Relypsa was up by four to 28, while the aggregate holdings declined by 14.42% to $546.87 million, while the shares of the company dropped by 8.26% during the second quarter. Orbimed Advisors and Ken Griffin‘s Citadel Investment Group were the major stakeholders of the company, having 7.40 million shares and 1.43 million shares in their portfolios.

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