Does AcelRx Pharmaceuticals Inc (ACRX) Stack Up Against Its Peers?

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Because AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) has witnessed a decline in interest from the entirety of the hedge funds we track, it’s easy to see that there were a few hedgies that decided to sell off their full holdings by the end of the third quarter. It’s worth mentioning that Peter Muller’s PDT Partners sold off the biggest investment of the 700 funds watched by Insider Monkey, comprising close to $0.1 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 similar to AcelRx Pharmaceuticals Inc (NASDAQ:ACRX). These stocks are Westport Innovations Inc. (USA) (NASDAQ:WPRT), T2 Biosystems Inc (NASDAQ:TTOO), Southern First Bancshares, Inc. (NASDAQ:SFST), and First Northwest BanCorp (NASDAQ:FNWB). This group of stocks’ market caps resemble ACRX’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
WPRT 6 8301 -1
TTOO 6 49795 1
SFST 6 22351 0
FNWB 4 14324 -1

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $24 million. That figure was $29 million in ACRX’s case. Westport Innovations Inc. (USA) (NASDAQ:WPRT) is the most popular stock in this table. On the other hand First Northwest BanCorp (NASDAQ:FNWB) is the least popular one with only 4 bullish hedge fund positions. AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) is tied as the most popular stock in this group. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are buying recently. In this regard TTOO might be a better candidate to consider taking a long position in.

Disclosure: None

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