How DURECT Corporation (DRRX) Stacks Up Against Its Peers

Seeing as DURECT Corporation (NASDAQ:DRRX) has witnessed bearish sentiment from the entirety of the hedge funds we track, it’s easy to see that there was a specific group of hedge funds that decided to sell off their full holdings last quarter. It’s worth mentioning that First Eagle Investment Management cashed in the biggest stake of the “upper crust” of funds followed by Insider Monkey, totaling about $24.3 million in stock, and Stephen DuBois’ Camber Capital Management was right behind this move, as the fund said goodbye to about $7.3 million worth of shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as DURECT Corporation (NASDAQ:DRRX) but similarly valued. We will take a look at Hallmark Financial Services, Inc. (NASDAQ:HALL), Deutsche Multi-Market Income Trust (NYSE:KMM), Oppenheimer Holdings Inc. (USA) (NYSE:OPY), and UFP Technologies, Inc. (NASDAQ:UFPT). This group of stocks’ market caps are similar to DRRX’s market cap.

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $23 million. That figure was $19 million in DRRX’s case. Oppenheimer Holdings Inc. (USA) (NYSE:OPY) is the most popular stock in this table. On the other hand Hallmark Financial Services, Inc. (NASDAQ:HALL) is the least popular one with only 4 bullish hedge fund positions. DURECT Corporation (NASDAQ:DRRX) is tied as the most popular stock in this group. This is a positive signal, as we’d rather spend our time researching stocks that hedge funds are piling on. In this regard DRRX might be a good candidate to consider taking a long position in.

Disclosure: None