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|
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.