Now, some big names have been driving this bullishness. Fisher Asset Management, managed by Ken Fisher, established the most outsized position in Affymetrix, Inc. (NASDAQ:AFFX). Fisher Asset Management had $3 million invested in the company at the end of the quarter. Steve Cohen’s Point72 Asset Management also initiated a $2.8 million position during the quarter. The following funds were also among the new AFFX investors: Joel Greenblatt’s Gotham Asset Management, Phil Frohlich’s Prescott Group Capital Management, and Michael Platt and William Reeves’s BlueCrest Capital Mgmt..
Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Affymetrix, Inc. (NASDAQ:AFFX) but similarly valued. These stocks are Yadkin Financial Corp (NYSE:YDKN), Supernus Pharmaceuticals Inc (NASDAQ:SUPN), General Communication, Inc. (NASDAQ:GNCMA), and VASCO Data Security International, Inc. (NASDAQ:VDSI). This group of stocks’ market caps is similar to Affymetrix, Inc. (NASDAQ:AFFX)’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| YDKN | 10 | 88756 | 0 |
| SUPN | 23 | 59846 | 0 |
| GNCMA | 13 | 30267 | 3 |
| VDSI | 16 | 110477 | -5 |
As you can see, these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $72 million. That figure was $140 million in Affymetrix, Inc. (NASDAQ:AFFX)’s case. Supernus Pharmaceuticals Inc (NASDAQ:SUPN) is the most popular stock in this table. On the other hand, Yadkin Financial Corp (NYSE:YDKN) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Affymetrix, Inc. (NASDAQ:AFFX) 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.
