Due to the fact that Spark Therapeutics Inc (NASDAQ:ONCE) has experienced a decline in interest from the entirety of the hedge funds we track, it’s safe to say that there exists a select few hedgies who were dropping their positions entirely in the third quarter. At the top of the heap, James E. Flynn’s Deerfield Management dropped the biggest stake of the 700 funds monitored by Insider Monkey, worth an estimated $38 million in stock, and Samuel Isaly’s OrbiMed Advisors was right behind this move, as the fund said goodbye to about $10 million worth of shares. These bearish behaviors are important to note, as aggregate hedge fund interest dropped by 6 funds in the third quarter.
Let’s also examine hedge fund activity in other stocks similar to Spark Therapeutics Inc (NASDAQ:ONCE). We will take a look at Globant SA (NYSE:GLOB), CSG Systems International, Inc. (NASDAQ:CSGS), and FelCor Lodging Trust Incorporated (NYSE:FCH). All of these stocks’ market caps are similar to ONCE’s market cap.
|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 17 hedge funds with bullish positions. Spark Therapeutics Inc (NASDAQ:ONCE) 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 OMG might be a better candidate to consider a long position.