Galois Capital Flagship Fund to Close After FTX Losses (Reuters)
Galois Capital hedge fund founder Kevin Zhou said on Monday his flagship fund would close after “losing almost half” of the fund’s money when cryptocurrency exchange FTX collapsed. Zhou’s statement, released on Twitter, confirmed a report in the Financial Times that the hedge fund had decided to close its main fund and return its money to investors.
Steven Cohen’s Point72 Hedge Fund Backs Salesforce, Broadcom And Meta While Cutting Palo Alto And Wo (247WallSt.com)
Stamford, Connecticut headquartered fund Point72 Asset Management reported trades for the December quarter this week. The hedge fund was founded in 2014 by Steven Cohen and has grown to a market value of $29.42 billion at the close of the December quarter. The fund reported total holdings of 1,474 disclosed positions in securities including shares, bonds, ETFs and more. The chart below shows the fluctuation in the reported value of the fund over the last 8 years since inception.
Darktrace Hires EY to Review Finances After Short-Seller Attack (The Guardian)
Darktrace has hired EY to conduct an independent review of its finances as it tries to defend itself against a hedge fund that alleges questionable marketing, sales and accounting practices at the cybersecurity company. The FTSE 250 company said the accountancy firm EY would provide “additional independent third-party review of its key financial processes and controls”, in a statement to the stock market on Monday. A New York-based hedge fund, Quintessential Capital Management (QCM), has bet against Darktrace, taking a short position on shares.
Veritas Beats Peers on Hedge Fund Returns (Hedge Nordic)
Stockholm (HedgeNordic) – All four pension insurance companies in Finland – Elo, Ilmarinen, Varma, and Veritas – maintain a more sizeable share of their portfolios in hedge funds compared to several years ago. Their hedge fund portfolios delivered positive – yet very different – returns during 2022.
Friday 2/17 Insider Buying Report: MLYS, AFBI (Nasdaq.com)
On Tuesday, Mineralys Therapeutics’ CFO, Adam Scott Levy, made a $100,000 purchase of MLYS, buying 6,250 shares at a cost of $16.00 each. Levy was up about 14.9% on the buy at the high point of today’s trading session, with MLYS trading as high as $18.39 at last check today. Mineralys Therapeutics is trading up about 1.2% on the day Friday. This buy marks the first one filed by Levy in the past twelve months. And at Affinity Bancshares, there was insider buying on Tuesday, by CEO Edward John Cooney who bought 5,000 shares for a cost of $15.70 each, for a trade totaling $78,509. This purchase marks the first one filed by Cooney in the past twelve months. Affinity Bancshares is trading up about 1.8% on the day Friday. So far Cooney is in the green, up about 5.1% on their buy based on today’s trading high of $16.50.
$14M Bet On This Technology Stock? Check Out These 4 Stocks Insiders Are Buying (Benzinga)
Impinj: The Trade: Impinj, Inc. (PI) Director Patrick Daniel Gibson acquired a total of 111,697 shares an average price of $125.13. To acquire these shares, it cost around $13.98 million. Freshworks: The Trade: Freshworks Inc. (FRSH) 10% owner Sumir Chadha bought a total of 279,564 shares at an average price of $15.78. To acquire these shares, it cost around $4.41 million.
