Threshold Pharmaceuticals, Inc. (NASDAQ:THLD): Are Hedge Funds Right About This Stock?

Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) was in 14 hedge funds’ portfolio at the end of the fourth quarter of 2012. THLD investors should pay attention to a decrease in hedge fund interest in recent months. There were 14 hedge funds in our database with THLD positions at the end of the previous quarter.

Threshold Pharmaceuticals, Inc. (NASDAQ:THLD)

If you’d ask most stock holders, hedge funds are viewed as unimportant, old investment vehicles of the past. While there are more than 8000 funds in operation at present, we at Insider Monkey choose to focus on the elite of this club, close to 450 funds. Most estimates calculate that this group oversees the majority of the hedge fund industry’s total asset base, and by monitoring their highest performing stock picks, we have found a number of investment strategies that have historically outpaced the S&P 500 index. Our small-cap hedge fund strategy outperformed the S&P 500 index by 18 percentage points a year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outclassed the S&P 500 index by 25 percentage points in 6.5 month (see all of our picks from August).

Equally as beneficial, positive insider trading sentiment is a second way to break down the stock market universe. As the old adage goes: there are lots of motivations for an executive to downsize shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Various empirical studies have demonstrated the valuable potential of this strategy if shareholders know what to do (learn more here).

With these “truths” under our belt, let’s take a gander at the recent action encompassing Threshold Pharmaceuticals, Inc. (NASDAQ:THLD).

Hedge fund activity in Threshold Pharmaceuticals, Inc. (NASDAQ:THLD)

At the end of the fourth quarter, a total of 14 of the hedge funds we track held long positions in this stock, a change of 0% from the previous quarter. With the smart money’s capital changing hands, there exists a few noteworthy hedge fund managers who were boosting their holdings substantially.

According to our comprehensive database, Phill Gross and Robert Atchinson’s Adage Capital Management had the biggest position in Threshold Pharmaceuticals, Inc. (NASDAQ:THLD), worth close to $7 million, accounting for 0% of its total 13F portfolio. The second largest stake is held by Baker Bros. Advisors, managed by Julian Baker and Felix Baker, which held a $7 million position; 0% of its 13F portfolio is allocated to the stock. Remaining peers that are bullish include Jay Venkatesen’s Ayer Capital Management, Donald Chiboucis’s Columbus Circle Investors and Israel Englander’s Millennium Management.

Because Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) has faced a declination in interest from hedge fund managers, we can see that there is a sect of fund managers that elected to cut their full holdings in Q4. It’s worth mentioning that Mike Vranos’s Ellington said goodbye to the biggest stake of the “upper crust” of funds we key on, valued at close to $2 million in stock.. SAC Subsidiary’s fund, Sigma Capital Management, also cut its stock, about $1 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

How have insiders been trading Threshold Pharmaceuticals, Inc. (NASDAQ:THLD)?

Insider trading activity, especially when it’s bullish, is particularly usable when the primary stock in question has experienced transactions within the past six months. Over the last half-year time period, Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) has experienced zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Threshold Pharmaceuticals, Inc. (NASDAQ:THLD). These stocks are GTx, Inc. (NASDAQ:GTXI), Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY), Curis, Inc. (NASDAQ:CRIS), Coronado Biosciences Inc (NASDAQ:CNDO), and Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX). All of these stocks are in the biotechnology industry and their market caps are similar to THLD’s market cap.

Company Name # of Hedge Funds # of Insiders Buying # of Insiders Selling
GTx, Inc. (NASDAQ:GTXI) 4 0 1
Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) 1 0 0
Curis, Inc. (NASDAQ:CRIS) 6 0 0
Coronado Biosciences Inc (NASDAQ:CNDO) 4 3 0
Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) 9 1 0

With the returns shown by Insider Monkey’s studies, everyday investors must always monitor hedge fund and insider trading sentiment, and Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) is an important part of this process.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

Insider Monkey’s small-cap strategy returned 37% between September 2012 and March 2013 versus 12.9% for the S&P 500 index. Try it now by clicking the link above.

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