Is Amicus Therapeutics, Inc. (FOLD) A Good Stock To Buy?

Seeing as Amicus Therapeutics, Inc. (NASDAQ:FOLD) has faced declining sentiment from the smart money, it’s safe to say that there exists a select few funds who sold off their entire stakes heading into Q4. Intriguingly, Dmitry Balyasny’s Balyasny Asset Management got rid of the largest position of the 700 funds watched by Insider Monkey, valued at close to $1.6 million in stock. Millennium Management also dumped its stock, about $0.7 million worth.

Let’s go over hedge fund activity in other stocks similar to Amicus Therapeutics, Inc. (NASDAQ:FOLD). These stocks are Atlantic Tele-Network, Inc. (NASDAQ:ATNI), Callidus Software Inc. (NASDAQ:CALD), Gran Tierra Energy Inc. (NYSEAMEX:GTE), and Mimecast Ltd (NASDAQ:MIME). All of these stocks’ market caps resemble FOLD’s market cap.

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 $125 million. That figure was $373 million in FOLD’s case. Gran Tierra Energy Inc. (NYSEAMEX:GTE) is the most popular stock in this table. On the other hand Atlantic Tele-Network, Inc. (NASDAQ:ATNI) is the least popular one with only 10 bullish hedge fund positions. Amicus Therapeutics, Inc. (NASDAQ:FOLD) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard GTE might be a better candidate to consider taking a long position in.

Disclosure: None