Do Hedge Funds Love TESARO Inc (TSRO)?

As aggregate interest increased, some big names have been driving this bullishness. Viking Global, led by Andreas Halvorsen, initiated the biggest position in TESARO Inc (NASDAQ:TSRO). Viking Global had $42.4 million invested in the company at the end of the quarter. James E. Flynn’s Deerfield Management also initiated a $24.3 million position during the quarter. The other funds with new positions in the stock are Jim Simons’s Renaissance Technologies, Steve Cohen’s Point72 Asset Management, and Anand Parekh’s Alyeska Investment Group.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as TESARO Inc (NASDAQ:TSRO) but similarly valued. We will take a look at Jones Lang LaSalle Inc (NYSE:JLL), Highwoods Properties Inc (NYSE:HIW), Service Corporation International (NYSE:SCI), and United Therapeutics Corporation (NASDAQ:UTHR). This group of stocks’ market caps are similar to TSRO’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
JLL 24 798501 -3
HIW 5 94726 -5
SCI 26 390415 -3
UTHR 31 1263694 1

As you can see these stocks had an average of 22 funds with bullish positions and the average amount invested in these stocks was $637 million, which is higher than the $414 million figure in TSRO’s case. United Therapeutics Corporation (NASDAQ:UTHR) is the most popular stock in this table with 31 funds holding shares. On the other hand Highwoods Properties Inc (NYSE:HIW) is the least popular one with only five bullish hedge fund positions. Compared to these stocks TESARO Inc (NASDAQ:TSRO) 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