Is Uniqure NV (QURE) Going to Burn These Hedge Funds?

In this article we will take a look at whether hedge funds think Uniqure NV (NASDAQ:QURE) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips from investment bankers and industry insiders. Sure they sometimes fail miserably, but their consensus stock picks historically outperformed the market after adjusting for known risk factors.

Uniqure NV (NASDAQ:QURE) has seen a decrease in enthusiasm from smart money in recent months. Uniqure NV (NASDAQ:QURE) was in 25 hedge funds’ portfolios at the end of March. The all time high for this statistic is 49. Our calculations also showed that QURE isn’t among the 30 most popular stocks among hedge funds (click for Q1 rankings).

In today’s marketplace there are plenty of indicators stock market investors employ to appraise their holdings. Two of the less known indicators are hedge fund and insider trading signals. We have shown that, historically, those who follow the best picks of the best investment managers can outclass the S&P 500 by a superb amount (see the details here). Also, our monthly newsletter’s portfolio of long stock picks returned 206.8% since March 2017 (through May 2021) and beat the S&P 500 Index by more than 115 percentage points. You can download a sample issue of this newsletter on our website .

Wil Harkey Nantahala Capital

Wil Harkey of Nantahala Capital Management

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, economists warn of inflation flare up. So, we are checking out this backdoor gold play that has hit peak gains of 718% in a little over a year. We go through lists like the 10 best battery stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Now let’s review the fresh hedge fund action surrounding Uniqure NV (NASDAQ:QURE).

Do Hedge Funds Think QURE Is A Good Stock To Buy Now?

At the end of March, a total of 25 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -29% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards QURE over the last 23 quarters. So, let’s examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

Among these funds, Point72 Asset Management held the most valuable stake in Uniqure NV (NASDAQ:QURE), which was worth $64.3 million at the end of the fourth quarter. On the second spot was Nantahala Capital Management which amassed $56.4 million worth of shares. Nantahala Capital Management, Citadel Investment Group, and OrbiMed Advisors were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position Aquilo Capital Management allocated the biggest weight to Uniqure NV (NASDAQ:QURE), around 5.82% of its 13F portfolio. Nantahala Capital Management is also relatively very bullish on the stock, earmarking 1.65 percent of its 13F equity portfolio to QURE.

Seeing as Uniqure NV (NASDAQ:QURE) has faced bearish sentiment from the aggregate hedge fund industry, it’s safe to say that there exists a select few hedgies that decided to sell off their full holdings last quarter. Interestingly, Paul Marshall and Ian Wace’s Marshall Wace LLP sold off the largest position of the 750 funds tracked by Insider Monkey, comprising close to $25.3 million in stock, and Doron Breen and Mori Arkin’s Sphera Global Healthcare Fund was right behind this move, as the fund dumped about $7.8 million worth. These transactions are important to note, as aggregate hedge fund interest dropped by 10 funds last quarter.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Uniqure NV (NASDAQ:QURE) but similarly valued. We will take a look at ACM Research, Inc. (NASDAQ:ACMR), Quotient Technology Inc (NYSE:QUOT), Ichor Holdings Ltd. (NASDAQ:ICHR), Industrial Logistics Properties Trust (NASDAQ:ILPT), Travere Therapeutics, Inc. (NASDAQ:TVTX), Alphatec Holdings Inc (NASDAQ:ATEC), and Compass Diversified (NYSE:CODI). All of these stocks’ market caps match QURE’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ACMR 19 213388 3
QUOT 25 580993 6
ICHR 12 69845 -12
ILPT 11 8780 3
TVTX 27 661871 0
ATEC 18 167283 1
CODI 5 35155 1
Average 16.7 248188 0.3

View table here if you experience formatting issues.

As you can see these stocks had an average of 16.7 hedge funds with bullish positions and the average amount invested in these stocks was $248 million. That figure was $341 million in QURE’s case. Travere Therapeutics, Inc. (NASDAQ:TVTX) is the most popular stock in this table. On the other hand Compass Diversified (NYSE:CODI) is the least popular one with only 5 bullish hedge fund positions. Uniqure NV (NASDAQ:QURE) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for QURE is 55.8. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 24% in 2021 through July 9th and beat the market again by 6.7 percentage points. Unfortunately QURE wasn’t nearly as popular as these 5 stocks and hedge funds that were betting on QURE were disappointed as the stock returned -14.5% since the end of March (through 7/9) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds as many of these stocks already outperformed the market since 2019.

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Disclosure: None. This article was originally published at Insider Monkey.