Is Coronado Biosciences Inc (CNDO) Going to Burn These Hedge Funds?

Coronado Biosciences Inc (NASDAQ:CNDO) investors should be aware of an increase in support from the world’s most elite money managers lately.

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Consequently, let’s take a gander at the recent action surrounding Coronado Biosciences Inc (NASDAQ:CNDO).

How have hedgies been trading Coronado Biosciences Inc (NASDAQ:CNDO)?

Heading into Q2, a total of 5 of the hedge funds we track were bullish in this stock, a change of 25% from the first quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were increasing their holdings considerably.

Of the funds we track, Paul Singer’s Elliott Management had the biggest position in Coronado Biosciences Inc (NASDAQ:CNDO), worth close to $36.2 million, accounting for 0.8% of its total 13F portfolio. On Elliott Management’s heels is Driehaus Capital, managed by Richard Driehaus, which held a $2.2 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Some other peers with similar optimism include Andrew Spokes’s Farallon Capital, Jim Simons’s Renaissance Technologies and Israel Englander’s Millennium Management.

Now, specific money managers have jumped into Coronado Biosciences Inc (NASDAQ:CNDO) headfirst. Farallon Capital, managed by Andrew Spokes, initiated the most valuable position in Coronado Biosciences Inc (NASDAQ:CNDO). Farallon Capital had 1 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also made a $0.4 million investment in the stock during the quarter. The only other fund with a brand new CNDO position is Israel Englander’s Millennium Management.

What do corporate executives and insiders think about Coronado Biosciences Inc (NASDAQ:CNDO)?

Insider buying is at its handiest when the primary stock in question has experienced transactions within the past six months. Over the last half-year time frame, Coronado Biosciences Inc (NASDAQ:CNDO) has seen 3 unique insiders purchasing, and zero insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Coronado Biosciences Inc (NASDAQ:CNDO). These stocks are Insmed Incorporated (NASDAQ:INSM), Curis, Inc. (NASDAQ:CRIS), Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY), GTx, Inc. (NASDAQ:GTXI), and Threshold Pharmaceuticals, Inc. (NASDAQ:THLD). This group of stocks belong to the biotechnology industry and their market caps are closest to CNDO’s market cap.