Hedge Funds Are Betting On La Jolla Pharmaceutical Company (LJPC)

Now, key hedge funds have jumped into La Jolla Pharmaceutical Company (NASDAQ:LJPC) headfirst. Point State Capital established the largest position in La Jolla Pharmaceutical Company (NASDAQ:LJPC) which had $4.8 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also made a $0.8 million investment in the stock during the quarter. The only other fund with a new position in the stock is Ken Griffin’s Citadel Investment Group.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as La Jolla Pharmaceutical Company (NASDAQ:LJPC) but similarly valued. We will take a look at Sun Bancorp, Inc. NJ (NASDAQ:SNBC), Park Sterling Bank (NASDAQ:PSTB), Brightcove Inc (NASDAQ:BCOV), and Zoe’s Kitchen Inc (NYSE:ZOES). All of these stocks’ market caps are similar to LJPC’s market cap.

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 $63 million. That figure was $157 million in LJPC’s case. Brightcove Inc (NASDAQ:BCOV) is the most popular stock in this table. On the other hand Sun Bancorp, Inc. NJ (NASDAQ:SNBC) is the least popular one with only 4 bullish hedge fund positions. La Jolla Pharmaceutical Company (NASDAQ:LJPC) is not the least popular stock in this group but hedge fund interest is just 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 BCOV might be a better candidate to consider taking a long position in.

Disclosure: None