XOMA Corp (XOMA) Soars Over 20% On Cowen’s ‘Outperform’ Reiteration Ahead Of EYEGUARD-B Results

How are hedge funds trading XOMA Corp (NASDAQ:XOMA)?

Of the funds tracked by Insider Monkey, Julian Baker and Felix Baker‘s Baker Bros. Advisors had the largest position in XOMA Corp (NASDAQ:XOMA), worth close to $53.5 million made up of about 14.71 million shares, and comprising 0.4% of its total 13F portfolio. On Baker Bros. Advisors’ heels is the previously mentioned Kingdon Capital. Some other hedge funds that are bullish consist of David E. Shaw’s D.E. Shaw & Co., L.P., Paul Marshall and Ian Wace’s Marshall Wace LLP and Kevin Kotler’s Broadfin Capital.

As industrywide interest jumped, specific money managers were leading the bulls’ herd. Broadfin Capital initiated the largest position in XOMA Corp (NASDAQ:XOMA) during the first quarter, a $5.5 million position in the company, buying 1.5 million shares. Warren Lammert’s Granite Point Capital also made a $728,000 investment in the stock during the quarter by buying 200,000 shares. The other funds with new positions in the stock are Chao Ku’s Nine Chapters Capital Management, Ken Greenberg and David Kim’s Ghost Tree Capital, and Glenn Russell Dubin’s Highbridge Capital Management.

The very bullish stance offered by Kingdon Capital in the second quarter tips the balance of hedge fund sentiment among those we track to favor XOMA, not to mention the positive sentiment from Baker Bros. and Broadfin Capital, two of the very best healthcare-focused funds we track at Insider Monkey. Taking into account the positive coverage the firm is getting regarding its EYEGUARD-B Phase 3 clinical program for gevokizumab, XOMA Corp (NASDAQ:XOMA) appears to be a good bet at the moment.

Disclosure: None