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Is Affymetrix, Inc. (AFFX) A Good Stock To Buy?

Now, some big names have been driving this bullishness. Fisher Asset Management, managed by Ken Fisher, established the most outsized position in Affymetrix, Inc. (NASDAQ:AFFX). Fisher Asset Management had $3 million invested in the company at the end of the quarter. Steve Cohen’s Point72 Asset Management also initiated a $2.8 million position during the quarter. The following funds were also among the new AFFX investors: Joel Greenblatt’s Gotham Asset Management, Phil Frohlich’s Prescott Group Capital Management, and Michael Platt and William Reeves’s BlueCrest Capital Mgmt..

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Affymetrix, Inc. (NASDAQ:AFFX) but similarly valued. These stocks are Yadkin Financial Corp (NYSE:YDKN), Supernus Pharmaceuticals Inc (NASDAQ:SUPN), General Communication, Inc. (NASDAQ:GNCMA), and VASCO Data Security International, Inc. (NASDAQ:VDSI). This group of stocks’ market caps is similar to Affymetrix, Inc. (NASDAQ:AFFX)’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
YDKN 10 88756 0
SUPN 23 59846 0
GNCMA 13 30267 3
VDSI 16 110477 -5

As you can see, these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $72 million. That figure was $140 million in Affymetrix, Inc. (NASDAQ:AFFX)’s case. Supernus Pharmaceuticals Inc (NASDAQ:SUPN) is the most popular stock in this table. On the other hand, Yadkin Financial Corp (NYSE:YDKN) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Affymetrix, Inc. (NASDAQ:AFFX) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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