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Pain Therapeutics, Inc. (PTIE): How Does It Compare Against Its Peers?

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A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended September 30, so let’s proceed with the discussion of the hedge fund sentiment on Pain Therapeutics, Inc. (NASDAQ:PTIE).

Pain Therapeutics, Inc. (NASDAQ:PTIE) has experienced a decrease in hedge fund interest lately. There were 7 hedge funds in our database with PTIE positions at the end of the second quarter, which had fallen to 6 by the end of the third quarter. At the end of this article we will also compare PTIE to other stocks including CymaBay Therapeutics Inc (NASDAQ:CBAY), Hamilton Bancorp Inc (NASDAQ:HBK), and GulfMark Offshore, Inc. (NYSE:GLF) to get a better sense of its popularity.

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At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

David Smart/Shutterstock.com

David Smart/Shutterstock.com

How have hedgies been trading Pain Therapeutics, Inc. (NASDAQ:PTIE)?

At Q3’s end, a total of 6 of the hedge funds tracked by Insider Monkey were long this stock, a 14% drop from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards PTIE over the last 5 quarters, which declined by 33% during that time. With the smart money’s capital changing hands, there exists a few noteworthy hedge fund managers who were increasing their stakes substantially (or already accumulated large positions).

ptie

Of the funds tracked by Insider Monkey, Wilmot B. Harkey and Daniel Mack’s Nantahala Capital Management has the most valuable position in Pain Therapeutics, Inc. (NASDAQ:PTIE), worth close to $3.9 million. The second most bullish fund manager is Biotechnology Value Fund, led by Mark Lampert, holding a $2.3 million position. Remaining hedge funds and institutional investors with similar optimism include Renaissance Technologies, one of the largest hedge funds in the world, Ari Zweiman’s 683 Capital Partners, and David E. Shaw’s D E Shaw. We should note that two of these hedge funds (Nantahala Capital Management and 683 Capital Partners) are among our list of the 100 best performing hedge funds, which is based on the performance of their 13F long positions in non-micro-cap stocks.

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