Due to the fact that Cerus Corporation (NASDAQ:CERS) has encountered declining sentiment from the aggregate hedge fund industry, it’s easy to see that there was a specific group of fund managers who sold off their entire stakes heading into Q4. Intriguingly, Israel Englander’s Millennium Management, one of the 10 largest hedge funds in the world, got rid of the biggest stake of all the investors monitored by Insider Monkey, totaling about $0.4 million in stock. Jim Simons’ fund, Renaissance Technologies, also dropped its stock, about $0.1 million worth.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Cerus Corporation (NASDAQ:CERS) but similarly valued. These stocks are Thermon Group Holdings Inc (NYSE:THR), Eastman Kodak Co. (NYSE:KODK), Winnebago Industries, Inc. (NYSE:WGO), and Aimmune Therapeutics Inc (NASDAQ:AIMT). This group of stocks’ market caps are similar to CERS’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 10 hedge funds with bullish positions and the average amount invested in these stocks was $90 million. That figure was $108 million in CERS’s case. Eastman Kodak Co. (NYSE:KODK) is the most popular stock in this table. On the other hand Thermon Group Holdings Inc (NYSE:THR) is the least popular one with only 4 bullish hedge fund positions. Cerus Corporation (NASDAQ:CERS) 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 KODK might be a better candidate to consider taking a long position in.