Is Cardica, Inc. (CRDC) A Good Stock To Buy?

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The government requires hedge funds and wealthy investors with over a certain portfolio size to file a report that shows their positions at the end of every quarter. Even though it isn’t the intention, these filings level the playing field for ordinary investors. The latest round of 13F filings discloses the funds’ positions on September 30. We, at Insider Monkey, have made an extensive database of more than 700 of those elite funds and prominent investors’ filings. In this article, we analyze how these elite funds and prominent investors traded Cardica, Inc. (NASDAQ:CRDC) based on those filings.

Cardica, Inc. (NASDAQ:CRDC) shares haven’t seen a lot of action during the third quarter. Overall, hedge fund sentiment was unchanged. The stock was in 6 hedge funds’ portfolios at the end of September. At the end of this article, we will also compare Cardica, Inc. (NASDAQ:CRDC) to other stocks, including Ampliphi Biosciences Corp (NYSEMKT:APHB), Pacific Sunwear of California, Inc. (NASDAQ:PSUN), and Paragon Offshore PLC (NYSE:PGN) to get a better sense of its popularity.

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In the financial world, there are many gauges investors use to value their stock investments. Two of the best gauges are hedge fund and insider trading interest. Our researchers have shown that, historically, those who follow the top picks of the top money managers can outperform the broader indices by a very impressive margin (see the details here).

Keeping this in mind, let’s analyze the latest action encompassing Cardica, Inc. (NASDAQ:CRDC).

What does the smart money think about Cardica, Inc. (NASDAQ:CRDC)?

At the end of the third quarter, a total of 6 of the hedge funds tracked by Insider Monkey held long positions in this stock, flat over the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were boosting their stakes substantially (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Stephen DuBois’ Camber Capital Management has the most valuable position in Cardica, Inc. (NASDAQ:CRDC), worth close to $2.4 million, comprising 0.2% of its total 13F portfolio. The second most bullish fund manager is Broadfin Capital, led by Kevin Kotler, holding a $2.4 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Hedge funds and other institutional investors that are bullish contain Hal Mintz’s Sabby Capital, Phil Frohlich’s Prescott Group Capital Management and Nathan Fischel’s DAFNA Capital Management.

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