Now, key money managers were leading the bulls’ herd. OrbiMed Advisors, managed by Samuel Isaly, assembled the most valuable call position in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA). OrbiMed Advisors had $12.5 million invested in the company at the end of the quarter. Steve Cohen’s Point72 Asset Management also initiated a $9 million position during the quarter. The following funds were also among the new VNDA investors: Ken Greenberg and David Kim’s Ghost Tree Capital, Glenn Russell Dubin’s Highbridge Capital Management, and Ken Griffin’s Citadel Investment Group.
Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) but similarly valued. We will take a look at Live Oak Bancshares Inc (NASDAQ:LOB), Barnes & Noble Education Inc (NYSE:BNED), Albany Molecular Research, Inc. (NASDAQ:AMRI), and Greenhill & Co., Inc. (NYSE:GHL). All of these stocks’ market caps match VNDA’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 11.75 hedge funds with bullish positions and the average amount invested in these stocks was $75 million. That figure was $321 million in VNDA’s case. Greenhill & Co., Inc. (NYSE:GHL) is the most popular stock in this table. On the other hand Live Oak Bancshares Inc (NASDAQ:LOB) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers and growing fonder of it still, it may be a good idea to analyze it in detail and potentially include it in your portfolio.