Applied Genetic Technologies Corp (AGTC): Are Hedge Funds Right About This Stock?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually dropped their positions entirely. At the top of the heap, Stuart Weisbrod’s Iguana Healthcare Management dropped the largest stake of all the investors watched by Insider Monkey, valued at an estimated $1.4 million in stock, and Matthew Tewksbury’s Stevens Capital Management was right behind this move, as the fund said goodbye to about $0.1 million worth of shares.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Applied Genetic Technologies Corp (NASDAQ:AGTC) but similarly valued. We will take a look at ARC Document Solutions Inc (NYSE:ARC), Travelzoo Inc. (NASDAQ:TZOO), Allot Communications Ltd. (NASDAQ:ALLT), and Northrim BanCorp, Inc. (NASDAQ:NRIM). All of these stocks’ market caps are closest to AGTC’s market cap.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $24 million. That figure was $15 million in AGTC’s case. ARC Document Solutions Inc (NYSE:ARC) is the most popular stock in this table. On the other hand Northrim BanCorp, Inc. (NASDAQ:NRIM) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Applied Genetic Technologies Corp (NASDAQ:AGTC) 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.

Disclosure: None