Do Hedge Funds Love TESARO Inc (TSRO)?

Since TESARO Inc (NASDAQ:TSRO) has faced a declination in interest from the entirety of the hedge funds we track, we can see that there was a specific group of fund managers who sold off their full holdings in the third quarter. Intriguingly, Christian Leone’s Luxor Capital Group sold off the largest stake of the “upper crust” of funds watched by Insider Monkey, worth an estimated $18.3 million in stock. Arthur B Cohen and Joseph Healey’s fund, Healthcor Management LP, also dumped its stock, about $16.3 million worth. These moves are intriguing to say the least, as total hedge fund interest fell by 2 funds in the third quarter.

Let’s now review hedge fund activity in other stocks similar to TESARO Inc (NASDAQ:TSRO). We will take a look at Globalstar, Inc. (PINK:GSAT), Yamana Gold Inc. (USA) (NYSE:AUY), Matthews International Corp (NASDAQ:MATW), and Sohu.com Inc (NASDAQ:SOHU). All of these stocks’ market caps are closest to TSRO’s market cap.

As you can see these stocks had an average of 15.5 hedge funds with bullish positions and the average amount invested in these stocks was $184 million. That figure was $229 million in TSRO’s case. Sohu.com Inc (NASDAQ:SOHU) is the most popular stock in this table. On the other hand Matthews International Corp (NASDAQ:MATW) is the least popular one with only 13 bullish hedge fund positions. TESARO Inc (NASDAQ:TSRO) is the most popular stock in this group and that makes it worth a closer look.