Hedge Funds Are Crazy About Supernus Pharmaceuticals Inc (SUPN)

Consequently, some big names have jumped into Supernus Pharmaceuticals Inc (NASDAQ:SUPN) headfirst. Balyasny Asset Management, led by Dmitry Balyasny, assembled the largest position in Supernus Pharmaceuticals Inc (NASDAQ:SUPN). Balyasny Asset Management had $2.7 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also made a $0.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Neil Chriss’s Hutchin Hill Capital, Ken Griffin’s Citadel Investment Group, and David Costen Haley’s HBK Investments.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Supernus Pharmaceuticals Inc (NASDAQ:SUPN) but similarly valued. These stocks are Arcos Dorados Holding Inc (NYSE:ARCO), Seacor Holdings, Inc. (NYSE:CKH), Agree Realty Corporation (NYSE:ADC), and Monotype Imaging Holdings Inc. (NASDAQ:TYPE). All of these stocks’ market caps are closest to SUPN’s market cap.

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $94 million. That figure was $51 million in SUPN’s case. Monotype Imaging Holdings Inc. (NASDAQ:TYPE) is the most popular stock in this table. On the other hand Seacor Holdings, Inc. (NYSE:CKH) is the least popular one with only 12 bullish hedge fund positions. Supernus Pharmaceuticals Inc (NASDAQ:SUPN) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard TYPE might be a better candidate to consider taking a long position in.

Disclosure: None