Insider Monkey has processed numerous 13F filings of hedge funds and famous investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds and investors’ positions as of the end of the third quarter. You can find write-ups about an individual hedge fund’s trades on numerous financial news websites. However, in this article we will take a look at their collective moves and analyze what the smart money thinks of Cancer Genetics Inc (NASDAQ:CGIX) based on that data.
Is Cancer Genetics Inc (NASDAQ:CGIX) a buy, sell, or hold? Hedge funds are taking a pessimistic view. The number of bullish hedge fund positions retreated by 1 recently. CGIX was in 4 hedge funds’ portfolios at the end of September. There were 5 hedge funds in our database with CGIX holdings at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Petroquest Energy Inc (NYSE:PQ), Timberland Bancorp, Inc. (NASDAQ:TSBK), and Good Times Restaurants Inc. (NASDAQ:GTIM) to gather more data points.
To most shareholders, hedge funds are seen as unimportant, old investment vehicles of years past. While there are more than 8000 funds with their doors open at the moment, Our experts look at the crème de la crème of this club, around 700 funds. These money managers oversee the majority of the hedge fund industry’s total capital, and by following their finest picks, Insider Monkey has unearthed various investment strategies that have historically surpassed Mr. Market. Insider Monkey’s small-cap hedge fund strategy exceeded the S&P 500 index by 12 percentage points a year for a decade in their back tests.
Keeping this in mind, we’re going to analyze the key action surrounding Cancer Genetics Inc (NASDAQ:CGIX).
What does the smart money think about Cancer Genetics Inc (NASDAQ:CGIX)?
Heading into Q4, a total of 4 of the hedge funds tracked by Insider Monkey were long this stock, a change of -20% from one quarter earlier. With hedgies’ capital changing hands, there exists an “upper tier” of key hedge fund managers who were increasing their holdings considerably (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Jim Simons’ Renaissance Technologies has the number one position in Cancer Genetics Inc (NASDAQ:CGIX), worth close to $0.6 million, corresponding to less than 0.1%% of its total 13F portfolio. On Renaissance Technologies’s heels is Mark N. Diker’s Diker Management, with a $0.2 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other professional money managers with similar optimism comprise Chuck Royce’s Royce & Associates and Philip Hempleman’s Ardsley Partners.