The shares of Enzon Pharmaceuticals Inc (NASDAQ:ENZN) have rallied in excess of 16% in trading today after the company announced a special cash dividend for its investors. The biotechnology company will pay the special dividend on August 12, 2015 to its shareholders of record on July 21, 2015. One of the most impressive facts about Enzon Pharmaceuticals is its return on assets, which stands at 88.70%. The biotechnology company announced three new directors in its annual shareholder meeting held on June 30, 2015. The Piscataway, New Jersey based company offers licensing for a huge portfolio of drugs including PegIntron for the treatment of chronic Hepatitis C, Macugen for macular degeneration associated with neovascular issues, Sylatron for melanoma, and CIMZIA for Crohn’s disease & rheumatoid arthritis.
Enzon Pharmaceuticals Inc (NASDAQ:ENZN) has witnessed a growth of 29.87% year-to-date and its shares are currently trading at $1.41. Smart money has held a steady outlook for the biotechnology firm of late, with eight hedge fund investors holding $9.81 million in the company on March 31 compared to previous investments of $9.89 million from nine investors one quarter earlier. It has notably attracted an investment from Carl Icahn, with Enzon Pharmaceuticals being one of the few small-cap investments of the legendary activist investor.
Follow Carl Icahn's Icahn Capital LP
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 135%, which is more than 80 percentage points higher than the returns of the S&P 500 ETF (SPY) (see more details).
In terms of insider activity, Enzon Pharmaceuticals Inc (NASDAQ:ENZN) has remained stable in the past six months. Keeping an eye on the insider activity provides an idea about the sentiment among insiders. For a better idea of the hedge fund activity going on in Enzon Pharmaceuticals, let’s analyze the recent action regarding its stock.