Is OncoMed Pharmaceuticals Inc (OMED) A Good Stock To Buy?

The Insider Monkey team has completed processing the quarterly 13F filings for the September quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors endured a torrid quarter, which certainly propelled them to adjust their equity holdings so as to maintain the desired risk profile. As a result, the relevancy of these public filings and their content is indisputable, as they may reveal numerous high-potential stocks. The following article will discuss the smart money sentiment towards OncoMed Pharmaceuticals Inc (NASDAQ:OMED).

OncoMed Pharmaceuticals Inc (NASDAQ:OMED) shareholders have witnessed an increase in enthusiasm from smart money lately. OMED was in 10 hedge funds’ portfolios at the end of September. There were 8 hedge funds in our database with OMED positions at the end of the previous quarter. At the end of this article we will also compare OMED to other stocks, including Superior Industries International Inc. (NYSE:SUP), NN, Inc. (NASDAQ:NNBR), and Double Eagle Acqusition Corp (NASDAQ:EAGL) to get a better sense of its popularity.

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Now, let’s take a gander at the recent action encompassing OncoMed Pharmaceuticals Inc (NASDAQ:OMED).

How are hedge funds trading OncoMed Pharmaceuticals Inc (NASDAQ:OMED)?

At Q3’s end, a total of 10 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 25% from the second quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were boosting their stakes meaningfully (or already accumulated large positions).

Of the funds tracked by Insider Monkey, Mark Lampert’s Biotechnology Value Fund / BVF Inc has the largest position in OncoMed Pharmaceuticals Inc (NASDAQ:OMED), worth close to $22.8 million, accounting for 4.6% of its total 13F portfolio. The second most bullish fund manager is Sanford J. Colen of Apex Capital, with a $6.6 million position; the fund has 0.6% of its 13F portfolio invested in the stock. Other hedge funds and institutional investors with similar optimism comprise Anand Parekh’s Alyeska Investment Group, Stuart Weisbrod’s Iguana Healthcare Management and Israel Englander’s Millennium Management.