Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Are Betting On Insys Therapeutics Inc (INSY)

Now, some big names have jumped into Insys Therapeutics Inc (NASDAQ:INSY) headfirst. Citadel Investment Group, led by Ken Griffin, initiated the most valuable position in Insys Therapeutics Inc (NASDAQ:INSY). Citadel Investment Group had $4.6 million invested in the company at the end of the quarter. Michael Doheny’s Freshford Capital Management also initiated a $4.5 million position during the quarter. The other funds with brand new INSY positions are Steve Cohen’s Point72 Asset Management, Lee Ainslie’s Maverick Capital, and Ken Griffin’s Citadel Investment Group.

Let’s now take a look at hedge fund activity in other stocks similar to Insys Therapeutics Inc (NASDAQ:INSY). These stocks are Fifth Street Finance Corp. (NASDAQ:FSC), Southside Bancshares, Inc. (NASDAQ:SBSI), State Bank Financial Corp (NASDAQ:STBZ), and Vascular Solutions, Inc. (NASDAQ:VASC). All of these stocks’ market caps match INSY’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
FSC 11 15348 0
SBSI 6 33580 0
STBZ 12 99121 0
VASC 10 43905 2

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 $48 million. That figure was $222 million in INSY’s case. State Bank Financial Corp (NASDAQ:STBZ) is the most popular stock in this table. On the other hand Southside Bancshares, Inc. (NASDAQ:SBSI) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Insys Therapeutics Inc (NASDAQ:INSY) 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.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.