Vanda Pharmaceuticals Inc. (VNDA)’s Stock Jumps Following NDA Approval

Now, specific money managers were leading the bulls’ herd. Pura Vida Investments, managed by Efrem Kamen, initiated the biggest position in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA). Pura Vida Investments had $0.6 million invested in the company at the end of the quarter. Paul Orlin and Alex Porter’s Amici Capital also initiated a $0.4 million position during the quarter. The following funds were also among the new VNDA investors: Matthew Tewksbury’s Stevens Capital Management and Mike Vranos’s Ellington.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) but similarly valued. We will take a look at Agenus Inc (NASDAQ:AGEN), First Foundation Inc (NASDAQ:FFWM), Carriage Services, Inc. (NYSE:CSV), and Homeowners Choice Inc (NYSE:HCI). This group of stocks’ market caps are similar to VNDA’s market cap.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $36 million. That figure was $192 million in VNDA’s case. Agenus Inc (NASDAQ:AGEN) is the most popular stock in this table. On the other hand Carriage Services, Inc. (NYSE:CSV) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) 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.

Disclosure: None