Gap Inc, ANI Pharmaceuticals, Ruby Tuesday: Why Are These Stocks Getting Crushed Today?

Hedge funds are mixed on the Gap Inc (NYSE:GPS). Although the number of funds declined to 21 in the second quarter from 29 in the first quarter, the total value of their holdings in the stock increased to $861.63 million (representing 5.40% of the float) from $740.81 million. Larry Robbins‘ Glenview Capital owns 5.99 million shares, while Ken Griffin’s Citadel Investment Group owns 3.55 million shares.

Our data shows the smart money is bullish on BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX). A total of 25 funds reported stakes worth $343.28 million (representing 31.80% of the float) in the latest round of 13F filings, versus 16 funds and $234.51 million respectively a quarter earlier. Biotech fund Julian Baker and Felix Baker‘s Baker Bros. Advisors owns 11.58 million shares, accounting for 1.51% of their public equity portfolio.

19 hedge funds owned $41 million worth of Ruby Tuesday, Inc. (NYSE:RT) representing 10.5% of the chain’s float in the second quarter, up from 16 funds owning $39.64 million worth of shares in the first quarter. Chuck Royce’s Royce & Associates owns 1.95 million shares.

Lastly, the smart money had a stake worth $103.31 million (representing 14.60% of the float) in ANI Pharmaceuticals Inc (NASDAQ:ANIP) at the end of June, down from $122.15 million at the end of March. The total number of funds long on the stock stayed the same at 17, however. Mitchell Blutt‘s Consonance Capital Management owns 1.06 million shares.

Our data shows that the smart money likes BioCryst the most, particularly since Baker Bros., one of the top performing funds we track, has a significant long position.

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