Consequently, specific money managers were leading the bulls’ herd. Sectoral Asset Management, managed by Jerome Pfund and Michael Sjostrom, established the biggest position in Advaxis, Inc. (NASDAQ:ADXS). Sectoral Asset Management had $12.9 million invested in the company at the end of the quarter. Hal Mintz’s Sabby Capital also made a $1.5 million investment in the stock during the quarter. The following funds were also among the new ADXS investors: Hal Mintz’s Sabby Capital, D. E. Shaw’s D E Shaw, and Philip Hempleman’s Ardsley Partners.
Let’s also examine hedge fund activity in other stocks similar to Advaxis, Inc. (NASDAQ:ADXS). These stocks are IDT Corporation (NYSE:IDT), Extreme Networks, Inc (NASDAQ:EXTR), ProQR Therapeutics NV (NASDAQ:PRQR), and Regulus Therapeutics Inc (NASDAQ:RGLS). This group of stocks’ market caps are closest to ADXS’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $59 million. That figure was $129 million in ADXS’s case. Extreme Networks, Inc (NASDAQ:EXTR) is the most popular stock in this table. On the other hand, IDT Corporation (NYSE:IDT) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Advaxis, Inc. (NASDAQ:ADXS) 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.