Is Heska Corp (HSKA) A Good Stock To Buy?

Judging by the fact that Heska Corp (NASDAQ:HSKA) has sustained declining sentiment from the entirety of the hedge funds we track, logic holds that there is a sect of fund managers that decided to sell off their positions entirely by the end of the third quarter. It’s worth mentioning that Glenn Russell Dubin’s Highbridge Capital Management cut the largest position of the “upper crust” of funds studied by Insider Monkey, worth an estimated $0.3 million in stock, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital was right behind this move, as the fund dropped about $0.1 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks similar to Heska Corp (NASDAQ:HSKA). These stocks are Peapack-Gladstone Financial Corp (NASDAQ:PGC), China Cord Blood Corp (NYSE:CO), Atlantic Capital Bancshares Inc (NASDAQ:ACBI), and Regenxbio Inc (NASDAQ:RGNX). This group of stocks’ market valuations are similar to HSKA’s market valuation.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $53 million. That figure was $33 million in HSKA’s case. Regenxbio Inc (NASDAQ:RGNX) is the most popular stock in this table. On the other hand China Cord Blood Corp (NYSE:CO) is the least popular one with only 5 bullish hedge fund positions. Heska Corp (NASDAQ:HSKA) 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 RGNX might be a better candidate to consider taking a long position in.

Disclosure: none.