Consequently, key hedge funds have jumped into Corium International Inc (NASDAQ:CORI) headfirst. Marshall Wace LLP initiated the biggest position in Corium International Inc (NASDAQ:CORI); the fund had $1.6 million invested in the company at the end of the quarter. Ghost Tree Capital also made a $1.2 million investment in the stock during the quarter. The following funds were also among the new CORI investors: Millennium Management, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.
Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Corium International Inc (NASDAQ:CORI) but similarly valued. These stocks are Townsquare Media Inc (NYSE:TSQ), Dicerna Pharmaceuticals Inc (NASDAQ:DRNA), Fibrocell Science Inc (NASDAQ:FCSC), and TriplePoint Venture Growth BDC Corp (NYSE:TPVG). This group of stocks’ market values resemble CORI’s market value.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $27 million. That figure was $33 million in CORI’s case. Townsquare Media Inc (NYSE:TSQ) is the most popular stock in this table. On the other hand Fibrocell Science Inc (NASDAQ:FCSC) is the least popular one with only 4 bullish hedge fund positions. Corium International Inc (NASDAQ:CORI) 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 TSQ might be a better candidate to consider for a long position, although the bullish action on CORI during the quarter is certainly intriguing.