Chiasma Inc (CHMA)’s Shares Jump 35% On First Day Of Trading

The hedge funds tracked by Insider Monkey were bearish on the stock of Novartis AG (ADR) (NYSE:NVS) in the first quarter, as only 33 hedge fund investors held aggregate investments of $930.85 million against previously held investments of $1.04 billion from 38 investment managers on December 31. Ken Fisher’s Fisher Asset Management was the largest shareholder of the company in our database with 5.99 million shares valued at $590.70 million on March 31. Renaissance Technologies, led by Jim Simons, and Osterweis Capital Management, led by John Osterweis, were among the other major investors of the company at the end of the first quarter.

We don’t just track the latest moves of funds. We are, in fact, more interested in their 13F filings, which we use to determine the top 15 small-cap stocks held by the funds we track. We gather and share this information based on 16 years of research, with backtests for the period between 1999 and 2012 and forward testing for the last 2.5 years. The results of our analysis show that these 15 most popular small-cap picks have a great potential to outperform the market, beating the S&P 500 Total Return Index by nearly one percentage point per month in backtests. Moreover, since the beginning of forward testing in August 2012, the strategy worked brilliantly, outperforming the market every year and returning 139%, which is more than 80 percentage points higher than the returns of the S&P 500 ETF (SPY) (see more details).

We’ll see in the coming days if any of the funds tracked by Insider Monkey, including many of the best healthcare funds in the world, show an interest in ownership of Chiasma Inc (NASDAQ:CHMA), and will keep you apprised should they do so.

Disclosure: None