Hedge Funds Aren’t Crazy About Ascendis Pharma A/S (ASND) Anymore

Seeing as Ascendis Pharma A/S (NASDAQ:ASND) has experienced a declination in interest from hedge fund managers, we can see that there lies a certain “tier” of fund managers who were dropping their positions entirely by the end of the third quarter. Intriguingly, Jeffrey Jay and David Kroin’s Great Point Partners dropped the biggest position of all the hedgies followed by Insider Monkey, valued at about $5.5 million in stock, and Hal Mintz’s Sabby Capital was right behind this move, as the fund sold off about $2.8 million worth of shares. These bearish behaviors are important to note, as total hedge fund interest dropped by 6 funds by the end of the third quarter.

Let’s go over hedge fund activity in other stocks similar to Ascendis Pharma A/S (NASDAQ:ASND). We will take a look at Tredegar Corporation (NYSE:TG), Moneygram International Inc (NASDAQ:MGI), Crestwood Equity Partners LP (NYSE:CEQP), and pdvWireless Inc (NASDAQ:PDVW). This group of stocks’ market values match ASND’s market value.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $84 million. That figure was $91 million in ASND’s case, which we take as a good sign. Moneygram International Inc (NASDAQ:MGI) is the most popular stock in this table. On the other hand Crestwood Equity Partners LP (NYSE:CEQP) is the least popular one with only 6 bullish hedge fund positions. Ascendis Pharma A/S (NASDAQ:ASND) is on par with MGI and we would recommend further research into both stocks to find out if they are viable candidates for a long position.