Hedge Funds Are Buzzing About GW Pharmaceuticals PLC- ADR (GWPH)

As industry-wide interest jumped, specific money managers were breaking ground themselves. Redmile Group created the biggest position in GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH). Redmile Group had $72.5 million invested in the company at the end of the quarter. Steve Cohen’s Point72 Asset Management also made a $20.3 million investment in the stock during the quarter. The other funds with new positions in the stock are Behzad Aghazadeh’s venBio Select Advisor, Ken Greenberg and David Kim’s Ghost Tree Capital, and Ken Griffin’s Citadel Investment Group.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) but similarly valued. We will take a look at Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA), BlackRock Credit All Inc Trust IV (NYSE:BTZ), Grupo Financiero Galicia S.A. (ADR) (NASDAQ:GGAL), and Brink’S Co (NYSE:BCO). This group of stocks’ market valuations are closest to GWPH’s market valuation.

As you can see these stocks had an average of 17.75 hedge funds with bullish positions and the average amount invested in these stocks was $286 million. That figure was $801 million in GWPH’s case. Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) is the most popular stock in this table. On the other hand BlackRock Credit All Inc Trust IV (NYSE:BTZ) is the least popular one with only 3 bullish hedge fund positions. GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) is not the most popular stock in this group but hedge fund interest is still above average. Considering the fact that GWPH has more money invested in it than any of the other stocks on the table, as well as the fact that it enjoyed the largest surge in ownership during the third quarter, we like what we see from hedge funds on this stock and consider it a candidate worth looking into deeper.

Disclosure: None