Is Galena Biopharma Inc (GALE) a Good Stock to Buy?

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Let’s check out hedge fund activity in other stocks similar to Galena Biopharma Inc (NASDAQ:GALE). We will take a look at Alliance HealthCare Services, Inc. (NASDAQ:AIQ), North Atlantic Drilling Ltd. (NYSE:NADL), Poage Bankshares Inc (NASDAQ:PBSK), and Magal Security Systems Ltd. (USA) (NASDAQ:MAGS). All of these stocks’ market caps are similar to GALE’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AIQ 4 5400 0
NADL 4 1965 -3
PBSK 2 2774 -1
MAGS 2 1821 -2

As you can see these stocks had an average of three funds with bullish positions and the average amount invested in these stocks was $3 million. That figure was $1 million in GALE’s case. Alliance HealthCare Services, Inc. (NASDAQ:AIQ) and North Atlantic Drilling Ltd. (NYSE:NADL) are the most popular stocks in this table, while Poage Bankshares Inc (NASDAQ:PBSK) and Magal Security Systems Ltd. (USA) (NASDAQ:MAGS) are the least popular  with only two bullish hedge fund positions. Compared to these stocks Galena Biopharma Inc (NASDAQ:GALE) 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.

Disclosure: None

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