Wall Street is in full-on Bull Mode today, as all three indexes are in the green and the S&P recently hit a record intra-day high. Among the stocks sharing the good times are BioLife Solutions Inc (NASDAQ:BLFS), Imperva Inc (NYSE:IMPV), Concord Medical Services Hldg Ltd (ADR) (NYSE:CCM), Resolute Energy Corp (NYSE:REN), and Lloyds Banking Group PLC (ADR) (NYSE:LYG). In this article, we’ll take a closer look at why investors are loving these five stocks right now and see how elite funds have been trading them of late.
Our research determined that following the small-cap stocks that hedge funds are collectively bullish on can help a smaller investor to beat the S&P 500 by around 95 basis points per month (see the details here).
BioLife Solutions Surges on Supply Agreement
BioLife Solutions Inc (NASDAQ:BLFS) shares have rallied by over 93% in morning trading after the nano-cap announced that it has entered into a ten-year supply agreement with Kite Pharma over BioLife’s CryoStor clinical grade freeze media for cells and tissues. Kite Pharma will use BioLife’s media for KTE-C19, the company’s CAR T cell therapy. The exact financial details of the deal have not been disclosed. None of the 766 active funds that Insider Monkey tracks owned BioLife Solutions Inc (NASDAQ:BLFS) at the end of March. As with all nano-caps, investors should exercise due-diligence before buying or selling shares.
Imperva Up on Reuters Article
Imperva Inc (NYSE:IMPV) is 8.9% in the green today on the back of a Reuters article published on Friday after the market close. According to the article, the cyber security firm is looking to hire an investment bank to advise it on its strategic options. Paul Singer‘s activist fund Elliott Management announced taking an 8.8% stake in the company in June and has urged management to consider such “strategic and operational opportunities.” Meaningful cost cuts, divestments, or sales could be construed as positive for the stock. 15 funds in our system were bullish on Imperva Inc (NYSE:IMPV) at the end of March, half as many as were long the stock at the end of December.
On the next page we find out why traders are buying up shares of Concord Medical Services, Resolute Energy, and Lloyds Banking Group this morning.