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Is PDL BioPharma Inc. (PDLI) Going to Burn These Hedge Funds?

As aggregate interest increased, some big names were leading the bulls’ herd. Marshall Wace LLP, managed by Paul Marshall and Ian Wace, initiated the largest position in PDL BioPharma Inc. (NASDAQ:PDLI). Marshall Wace LLP had $0.8 million invested in the company at the end of the quarter. Chao Ku’s Nine Chapters Capital Management also initiated a $0.6 million position during the quarter. The other funds with brand new PDLI positions are Michael Platt and William Reeves’s BlueCrest Capital Mgmt., Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, and Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners.

Let’s now review hedge fund activity in other stocks similar to PDL BioPharma Inc. (NASDAQ:PDLI). These stocks are Wilshire Bancorp Inc (NASDAQ:WIBC), National CineMedia, Inc. (NASDAQ:NCMI), Acceleron Pharma Inc (NASDAQ:XLRN), and Chatham Lodging Trust (NYSE:CLDT). This group of stocks’ market values resembles PDL BioPharma Inc. (NASDAQ:PDLI)’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
WIBC 14 44218 1
NCMI 18 69337 4
XLRN 15 99202 -3
CLDT 16 159382 0

As you can see, these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $93 million. That figure was $89 million in PDL BioPharma Inc. (NASDAQ:PDLI)’s case. National CineMedia, Inc. (NASDAQ:NCMI) is the most popular stock in this table. On the other hand, Wilshire Bancorp Inc (NASDAQ:WIBC) is the least popular one with only 14 bullish hedge fund positions. Compared to these stocks, PDL BioPharma Inc. (NASDAQ:PDLI) 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.

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