Hedge Funds Are Crazy About Threshold Pharmaceuticals, Inc. (THLD)

As aggregate interest increased, specific money managers have jumped into Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) headfirst. Great Point Partners, managed by Jeffrey Jay and David Kroin, assembled the biggest call position in Threshold Pharmaceuticals, Inc. (NASDAQ:THLD). Great Point Partners had $0.9 million invested in the company at the end of the quarter. Dmitry Balyasny’s Balyasny Asset Management also made an $0.2 million investment in the stock during the quarter. The other funds with brand new THLD positions are Mike Vranos’s Ellington and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) but similarly valued. These stocks are Meta Financial Group Inc. (NASDAQ:CASH), Asanko Gold Inc (NYSEMKT:AKG), Sodastream International Ltd (NASDAQ:SODA), and Cryolife Inc (NYSE:CRY). All of these stocks’ market caps resemble THLD’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CASH 15 65518 3
AKG 5 28173 0
SODA 11 39221 2
CRY 8 18411 0

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 $38 million, compared to $32 million in THLD’s case. Meta Financial Group Inc. (NASDAQ:CASH) is the most popular stock in this table. On the other hand Asanko Gold Inc (NYSEMKT:AKG) is the least popular one with only 5 bullish hedge fund positions. Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) 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 CASH might be a better candidate to consider a long position.