Hedge Funds Are Betting On INVUITY INC (IVTY)

As aggregate interest increased, some big names have been driving this bullishness. Napier Park Global Capital, initiated the most outsized position in INVUITY INC (NASDAQ:IVTY). Napier Park Global Capital had $2.1 million invested in the company at the end of the quarter. Millennium Management also made a $0.5 million investment in the stock during the quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as INVUITY INC (NASDAQ:IVTY) but similarly valued. We will take a look at StealthGas Inc. (NASDAQ:GASS), VirnetX Holding Corporation (NYSEAMEX:VHC), Medallion Financial Corp (NASDAQ:TAXI), and MVC Capital, Inc. (NYSE:MVC). This group of stocks’ market valuations are closest to IVTY’s market valuation.

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $25 million. That figure was $17 million in IVTY’s case. StealthGas Inc. (NASDAQ:GASS) is the most popular stock in this table, while VirnetX Holding Corporation (NYSEAMEX:VHC) is the least popular one with only 5 bullish hedge fund positions. INVUITY INC (NASDAQ:IVTY) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard GASS might be a better candidate to consider a long position.