Hedge Funds Aren’t Crazy About Minerva Neurosciences Inc (NERV) Anymore

We already know that not all hedge funds are bullish on the stock and some hedge funds actually said goodbye to their positions entirely. At the top of the heap, Ori Hershkovitz’s Nexthera Capital said goodbye to the biggest stake of all the hedgies tracked by Insider Monkey, valued at an estimated $1.1 million in stock. D E Shaw, also dropped its stock, about $0.5 million worth.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Minerva Neurosciences Inc (NASDAQ:NERV) but similarly valued. These stocks are Trupanion Inc (NYSE:TRUP), Camden National Corporation (NASDAQ:CAC), ArcBest Corp (NASDAQ:ARCB), and PJT Partners Inc (NYSE:PJT). This group of stocks’ market caps are closest to NERV’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TRUP 10 35945 4
CAC 6 66695 0
ARCB 13 26835 2
PJT 10 141761 -4

As you can see these stocks had an average of 9.75 hedge funds with bullish positions and the average amount invested in these stocks was $68 million. That figure was $106 million in NERV’s case. ArcBest Corp (NASDAQ:ARCB) is the most popular stock in this table. On the other hand Camden National Corporation (NASDAQ:CAC) is the least popular one with only 6 bullish hedge fund positions. Minerva Neurosciences Inc (NASDAQ:NERV) 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 ARCB might be a better candidate to consider taking a long position in.

Disclosure: None