With general bullishness amongst the heavyweights, some big names were breaking ground themselves. Renaissance Technologies created the biggest position in Organovo Holdings Inc (NASDAQ:ONVO). Arrowstreet Capital also made a $0.2 million investment in the stock during the quarter. The following funds were also among the new ONVO investors: Ken Griffin’s Citadel Investment Group and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.
Let’s now review hedge fund activity in other stocks similar to Organovo Holdings Inc (NASDAQ:ONVO). These stocks are Karyopharm Therapeutics Inc (NASDAQ:KPTI), Bank Mutual Corporation (NASDAQ:BKMU), Corenergy Infrastructure Trust Inc (NYSE:CORR), and Digimarc Corp (NASDAQ:DMRC). This group of stocks’ market valuations match ONVO’s market valuation.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $34 million. That figure was $3 million in ONVO’s case. Karyopharm Therapeutics Inc (NASDAQ:KPTI) is the most popular stock in this table. On the other hand Bank Mutual Corporation (NASDAQ:BKMU) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Organovo Holdings Inc (NASDAQ:ONVO) 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.