Repros Therapeutics Inc (NASDAQ:RPRX) was in 15 hedge funds’ portfolio at the end of the first quarter of 2013. RPRX shareholders have witnessed an increase in support from the world’s most elite money managers recently. There were 12 hedge funds in our database with RPRX holdings at the end of the previous quarter.
According to most shareholders, hedge funds are seen as slow, old financial tools of yesteryear. While there are greater than 8000 funds in operation today, we at Insider Monkey choose to focus on the bigwigs of this club, close to 450 funds. It is estimated that this group oversees most of the smart money’s total asset base, and by monitoring their highest performing equity investments, we have identified a number of investment strategies that have historically outperformed Mr. Market. Our small-cap hedge fund strategy outpaced the S&P 500 index by 18 percentage points annually for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have topped the S&P 500 index by 23.3 percentage points in 8 months (see the details here).
Equally as beneficial, bullish insider trading sentiment is a second way to parse down the world of equities. Just as you’d expect, there are lots of reasons for an upper level exec to drop shares of his or her company, but just one, very simple reason why they would buy. Many academic studies have demonstrated the impressive potential of this strategy if shareholders understand where to look (learn more here).
Now, let’s take a peek at the key action surrounding Repros Therapeutics Inc (NASDAQ:RPRX).
What have hedge funds been doing with Repros Therapeutics Inc (NASDAQ:RPRX)?
In preparation for this quarter, a total of 15 of the hedge funds we track held long positions in this stock, a change of 25% from the first quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were upping their stakes significantly.
When looking at the hedgies we track, Julian Baker and Felix Baker’s Baker Bros. Advisors had the biggest position in Repros Therapeutics Inc (NASDAQ:RPRX), worth close to $36.4 million, accounting for 0.7% of its total 13F portfolio. Coming in second is Steven Cohen of SAC Capital Advisors, with a $20.5 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other hedgies with similar optimism include Jacob Gottlieb’s Visium Asset Management, Charles Davidson’s Wexford Capital and Daniel Gold’s QVT Financial.
Consequently, some big names have jumped into Repros Therapeutics Inc (NASDAQ:RPRX) headfirst. Visium Asset Management, managed by Jacob Gottlieb, established the most outsized position in Repros Therapeutics Inc (NASDAQ:RPRX). Visium Asset Management had 19.3 million invested in the company at the end of the quarter. Christopher Medlock James’s Partner Fund Management also initiated a $9.9 million position during the quarter. The following funds were also among the new RPRX investors: Mark Kingdon’s Kingdon Capital, Andrew Spokes’s Farallon Capital, and Mark Kingdon’s Kingdon Capital.
What have insiders been doing with Repros Therapeutics Inc (NASDAQ:RPRX)?
Insider trading activity, especially when it’s bullish, is most useful when the company in question has experienced transactions within the past six months. Over the last 180-day time period, Repros Therapeutics Inc (NASDAQ:RPRX) has seen 1 unique insiders buying, and zero insider sales (see the details of insider trades here).
With the results exhibited by Insider Monkey’s studies, everyday investors should always pay attention to hedge fund and insider trading activity, and Repros Therapeutics Inc (NASDAQ:RPRX) shareholders fit into this picture quite nicely.