Akebia Therapeutics Inc (AKBA) Hedge Funds Are Snapping Up

As aggregate interest increased, key hedge funds were breaking ground themselves. Perceptive Advisors initiated a $2.5 million position during the quarter. The other funds with new positions in the stock are P.A.W. CAPITAL PARTNERS, Clifford Fox’s Columbus Circle Investors, and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s go over hedge fund activity in other stocks similar to Akebia Therapeutics Inc (NASDAQ:AKBA). We will take a look at Tesco Corporation (USA) (NASDAQ:TESO), Lumos Networks Corp (NASDAQ:LMOS), SciQuest, Inc. (NASDAQ:SQI), and Hi-Crush Partners LP (NYSE:HCLP). All of these stocks’ market caps are closest to Akebia Therapeutics Inc (NASDAQ:AKBA)’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 $41 million. That figure was $20 million in Akebia Therapeutics Inc (NASDAQ:AKBA)’s case. SciQuest, Inc. (NASDAQ:SQI) is the most popular stock in this table. On the other hand, Tesco Corporation (USA) (NASDAQ:TESO) is the least popular one with only 10 bullish hedge fund positions. Akebia Therapeutics Inc (NASDAQ:AKBA) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, SciQuest, Inc. (NASDAQ:SQI) might be a better candidate to consider a long position.