What Do Hedge Funds Think of Relypsa Inc (RLYP)?

Since Relypsa Inc (NASDAQ:RLYP) has witnessed a declination in interest from hedge fund managers, it’s safe to say that there was a specific group of fund managers who sold off their entire stakes heading into Q4. Interestingly, Matt Sirovich and Jeremy Mindich’s Scopia Capital said goodbye to the biggest investment of the “upper crust” of funds followed by Insider Monkey, comprising an estimated $12.4 million in stock. Zach Schreiber’s fund, Point State Capital, also dropped its stock, about $9.9 million worth. These transactions are interesting, as total hedge fund interest was cut by 3 funds heading into Q4.

Let’s go over hedge fund activity in other stocks similar to Relypsa Inc (NASDAQ:RLYP). These stocks are Inter Parfums, Inc. (NASDAQ:IPAR), K2M Group Holdings Inc (NASDAQ:KTWO), James River Group Holdings Ltd (NASDAQ:JRVR), and Kforce Inc. (NASDAQ:KFRC). This group of stocks’ market caps are similar to RLYP’s market cap.

As you can see these stocks had an average of 12.5 hedge funds with bullish positions and the average amount invested in these stocks was $146 million. That figure was $311 million in RLYP’s case. Kforce Inc. (NASDAQ:KFRC) is the most popular stock in this table. On the other hand Inter Parfums, Inc. (NASDAQ:IPAR) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Relypsa Inc (NASDAQ:RLYP) 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.