Latest Moves Show Hedgies Are Not Giving Up On These 3 Cratered Stocks

Gabe Hoffman’s healthcare-focused fund Accipiter Capital Management has significantly boosted its stake in energy company Foresight Energy LP (NYSE:FELP). The firm now holds about 7.92 million shares along with its affiliated funds, representing more than 12% of Foresight’s outstanding stock. Accipiter intiated a holding in the company during the third quarter, of some 607,600 shares. The stock price has fallen by more than 50% since the end of that quarter, and is down by about 85% so far this year. Foresight’s RSI value currently stands at 21.87, signalling that it is well into oversold territory. Dmitry Balyasny’s Balyasny Asset Management didn’t feel so upbeat about Foresight Energy LP (NYSE:FELP)’s future prospects, as it sold some 570,000 shares of the company during the third trimester , lowering its holding to about 835,000 shares.

Another healthcare-focused fund that is betting on a fallen star within its specialty sector is Dennis Purcell’s Aisling Capital, with $220.51 million in vitro diagnostics company T2 Biosystems Inc (NASDAQ:TTOO) being the star in question. According to a recent filing with the Securities and Exchange Commission, Aisling acquired some 307,700 shares of T2, lifting his holding to 2.83 million shares, more than 11% of the company’s outstanding stock. So far this year T2’s share price has fallen by about 52%. However, in its financial results for the third trimester, T2 Biosystems Inc (NASDAQ:TTOO) beat both the top and bottom line estimates of analysts, as its quarterly loss per share stood at $0.57 on $1.05 million in revenue. Steve Cohen’s Point72 Asset Management hiked its stake in T2 Biosystems Inc (NASDAQ:TTOO) to 500,000 shares during the July-to-September period.

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