Here is What Hedge Funds Think About ProNAi Therapeutics Inc (DNAI)

Let’s check out hedge fund activity in other stocks similar to ProNAi Therapeutics Inc (NASDAQ:DNAI). These stocks are Quanex Building Products Corporation (NYSE:NX), Tile Shop Hldgs, Inc. (NASDAQ:TTS), Walter Investment Management Corp (NYSE:WAC), and Barnes & Noble Education Inc (NYSE:BNED). This group of stocks’ market valuations are closest to DNAI’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
NX 21 95654 3
TTS 20 109809 10
WAC 5 353896 -1
BNED 19 157971 19

As you can see these stocks had an average of 16.25 hedge funds with bullish positions and the average amount invested in these stocks was $179 million. That figure was $120 million in DNAI’s case. Quanex Building Products Corporation (NYSE:NX) is the most popular stock in this table. On the other hand Walter Investment Management Corp (NYSE:WAC) is the least popular one with only 5 bullish hedge fund positions. ProNAi Therapeutics Inc (NASDAQ:DNAI) 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 NX might be a better candidate to consider a long position.