As aggregate interest increased, specific money managers have been driving this bullishness. Tourbillon Capital Partners, managed by Jason Karp, created the most valuable call position in Radius Health Inc (NASDAQ:RDUS). Tourbillon Capital Partners had $33 million invested in the company at the end of the quarter. Nick Niell’s Arrowgrass Capital Partners also initiated a $32.3 million position during the quarter. The following funds were also among the new RDUS investors: Zach Schreiber’s Point State Capital, Steve Cohen’s Point72 Asset Management, and Joseph Edelman’s Perceptive Advisors.
Let’s go over hedge fund activity in other stocks similar to Radius Health Inc (NASDAQ:RDUS). These stocks are Enerplus Corp (USA) (NYSE:ERF), Forum Energy Technologies Inc (NYSE:FET), Harmony Gold Mining Co. (ADR) (NYSE:HMY), and Argo Group International Holdings, Ltd. (NASDAQ:AGII). This group of stocks’ market valuations resemble RDUS’s market valuation.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| ERF | 21 | 89116 | 7 |
| FET | 16 | 79616 | 3 |
| HMY | 7 | 28646 | -4 |
| AGII | 13 | 101675 | -5 |
As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $75 million. That figure was an impressive $555 million in RDUS’s case. Enerplus Corp (USA) (NYSE:ERF) is the most popular stock in this table. On the other hand Harmony Gold Mining Co. (ADR) (NYSE:HMY) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Radius Health Inc (NASDAQ:RDUS) 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.
Disclosure: none.
