Hedge Funds Aren’t Fond Of Ritter Pharmaceuticals Inc (RTTR) Anymore

Since Ritter Pharmaceuticals Inc (NASDAQ:RTTR) has witnessed falling interest from the aggregate hedge fund industry, we can see that there exists a select few hedge funds that elected to cut their full holdings last quarter. Intriguingly, Anthony Giammalva’s Sound Energy Partners said goodbye to the biggest stake of the “upper crust” of funds tracked by Insider Monkey, valued at an estimated $0.1 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund said goodbye to about $0.1 million worth of shares. These bearish behaviors are important to note, as aggregate hedge fund interest fell by 2 funds last quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Ritter Pharmaceuticals Inc (NASDAQ:RTTR) but similarly valued. We will take a look at China Ceramics Co Ltd (NASDAQ:CCCL), Speed Commerce Inc (NASDAQ:SPDC), InspireMD Inc (NYSEMKT:NSPR), and Lincoln Educational Services Corporation (NASDAQ:LINC). All of these stocks’ market caps are closest to RTTR’s market cap.

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 $2 million. That figure was $3 million in RTTR’s case. Speed Commerce Inc (NASDAQ:SPDC) is the most popular stock in this table. On the other hand, China Ceramics Co Ltd (NASDAQ:CCCL) is the least popular one with only 4 bullish hedge fund positions. Ritter Pharmaceuticals Inc (NASDAQ:RTTR) 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 SPDC might be a better candidate to consider a long position.