Sequenom, Inc. (NASDAQ:SQNM) has seen a decrease in hedge fund interest in recent months.
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With these “truths” under our belt, we’re going to take a glance at the recent action encompassing Sequenom, Inc. (NASDAQ:SQNM).
Hedge fund activity in Sequenom, Inc. (NASDAQ:SQNM)
At the end of the first quarter, a total of 17 of the hedge funds we track were long in this stock, a change of -6% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were increasing their holdings substantially.
When looking at the hedgies we track, William Leland Edwards’s Palo Alto Investors had the biggest position in Sequenom, Inc. (NASDAQ:SQNM), worth close to $35.5 million, accounting for 4.2% of its total 13F portfolio. Coming in second is Sectoral Asset Management, managed by Jerome Pfund and Michael Sjostrom, which held a $24.6 million position; 0.8% of its 13F portfolio is allocated to the stock. Some other peers that are bullish include SAC Subsidiary’s CR Intrinsic Investors, Steven Cohen’s SAC Capital Advisors and Samuel Isaly’s OrbiMed Advisors.
Because Sequenom, Inc. (NASDAQ:SQNM) has experienced falling interest from hedge fund managers, we can see that there lies a certain “tier” of hedgies who were dropping their positions entirely at the end of the first quarter. At the top of the heap, Jeremy Green’s Redmile Group said goodbye to the largest investment of the “upper crust” of funds we key on, totaling an estimated $12.6 million in stock.. SAC Subsidiary’s fund, CR Intrinsic Investors, also said goodbye to its call options., about $1.4 million worth. These bearish behaviors are intriguing to say the least, as total hedge fund interest fell by 1 funds at the end of the first quarter.
Insider trading activity in Sequenom, Inc. (NASDAQ:SQNM)
Bullish insider trading is most useful when the company in question has seen transactions within the past 180 days. Over the last half-year time frame, Sequenom, Inc. (NASDAQ:SQNM) has seen 2 unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Sequenom, Inc. (NASDAQ:SQNM). These stocks are ChemoCentryx Inc (NASDAQ:CCXI), Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI), Hyperion Therapeutics Inc (NASDAQ:HPTX), Emergent Biosolutions Inc (NYSE:EBS), and Idenix Pharmaceuticals Inc (NASDAQ:IDIX). This group of stocks belong to the biotechnology industry and their market caps are similar to SQNM’s market cap.