Is Viate Pharmaceuticals Inc (VTAE) A Good Stock To Buy?

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Consequently, some big names have jumped into Viate Pharmaceuticals Inc (NASDAQ:VTAE) headfirst. OrbiMed Advisors established the most valuable position in Viate Pharmaceuticals Inc (NASDAQ:VTAE). OrbiMed Advisors had $4 million invested in the company at the end of the quarter. Peter Kolchinsky’s RA Capital Management also made a $3.5 million investment in the stock during the quarter. The other funds with new positions in the stock are D. E. Shaw’s D E Shaw, Nathan Fischel’s DAFNA Capital Management, and Brad Farber’s Atika Capital.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Viate Pharmaceuticals Inc (NASDAQ:VTAE) but similarly valued. We will take a look at Aquinox Pharmaceuticals Inc (NASDAQ:AQXP), Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC), McEwen Mining Inc (NYSE:MUX), and United Community Financial Corp (NASDAQ:UCFC). All of these stocks’ market caps match VTAE’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AQXP 13 151616 4
ARDC 4 9686 2
MUX 7 7806 -3
UCFC 11 22815 0

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 $48 million. That figure was $75 million in VTAE’s case. Aquinox Pharmaceuticals Inc (NASDAQ:AQXP) is the most popular stock in this table. On the other hand, Ares Dynamic Credit Allocation Fund Inc (NYSE:ARDC) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Viate Pharmaceuticals Inc (NASDAQ:VTAE) 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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