You Should Follow Hedge Funds Into These Tech and Healthcare Stocks

Conatus Pharmaceuticals Inc (NASDAQ:CNAT) extended its gains from the last couple of days with a surge of over 14% in the first hours of trading on Wednesday. Overall the stock of the bio therapeutic company is up by 30% in two days, but it still has lost more than 19% since the beginning of the year. The growth was fueled by HC Wainwright initiating coverage on the company yesterday with a ‘Buy’ rating and a price target of $15 per share, which represents a premium of almost $10 to the current price. The bullish outlook is supported by the hedge fund sentiment towards Conatus Pharmaceuticals Inc (NASDAQ:CNAT). During the second quarter, the aggregate value of positions held by investors jumped to $12.22 million from just $2.30 million and represented 12% of the company at the end of June, while the stock lost over 30% during the period. The number of investors with long positions also went up to nine from six, as seven shareholders from our database initiated new positions in Conatus Pharmaceuticals Inc (NASDAQ:CNAT) and four opted to cut their exposure to the stock. Among these funds, healthcare focused Healthcor Management LP, led by Arthur B. Cohen and Joseph Healey, disclosed a new stake containing 1.02 million shares, followed by Hal Minz’s Sabby Capital and Citadel Investment Group, which initiated stakes of 373,500 shares and 284,200 shares respectively.

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