Hedge Funds Are Selling Vical Incorporated (VICL)

Page 2 of 2

Judging by the fact that Vical Incorporated (NASDAQ:VICL) has experienced bearish sentiment from hedge fund managers, logic holds that there lies a certain “tier” of fund managers who were dropping their positions entirely heading into Q4. At the top of the heap, Kris Jenner, Gordon Bussard, Graham McPhail’s Rock Springs Capital Management dumped the largest position of all the hedgies followed by Insider Monkey, comprising an estimated $1.3 million in call options. Israel Englander’s fund, Millennium Management, also dumped its call options, about $0.1 million worth. These moves are interesting, as total hedge fund interest fell by 2 funds heading into Q4.

Let’s go over hedge fund activity in other stocks similar to Vical Incorporated (NASDAQ:VICL). We will take a look at Intersections Inc. (NASDAQ:INTX), Christopher & Banks Corporation (NYSE:CBK), Cinedigm Corp (NASDAQ:CIDM), and Northern Dynasty Minerals Ltd. (USA) (NYSEMKT:NAK). This group of stocks’ market valuations are similar to VICL’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
INTX 6 12350 -1
CBK 6 2533 -5
CIDM 8 2168 -4
NAK 4 2352 0

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $5 million. That figure was $5 million in VICL’s case. Cinedigm Corp (NASDAQ:CIDM) is the most popular stock in this table. On the other hand Northern Dynasty Minerals Ltd. (USA) (NYSEMKT:NAK) is the least popular one with only 4 bullish hedge fund positions. Vical Incorporated (NASDAQ:VICL) is not the least popular stock in this group but hedge fund interest is still below 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 CIDM might be a better candidate to consider a long position.

Page 2 of 2