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Is Stemline Therapeutics Inc (NASDAQ:STML) worth your attention right now? Money managers are definitely in a bullish mood. The number of long hedge fund positions that are disclosed in regulatory 13F filings swelled by 3 recently. STML was in 11 hedge funds’ portfolios at the end of September. There were 8 hedge funds in our database with STML positions at the end of the previous quarter. At the end of this article we will also compare STML to other stocks including Medgenics Inc (NYSEMKT:MDGN), Evolution Petroleum Corporation (NYSEAMEX:EPM), and Newtek Business Services, Inc (NASDAQ:NEWT) to get a better sense of its popularity.
Follow Stemline Therapeutics Inc (NASDAQ:STML)
Follow Stemline Therapeutics Inc (NASDAQ:STML)
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Hedge fund activity in Stemline Therapeutics Inc (NASDAQ:STML)
At the end of the third quarter, a total of 11 of the hedge funds tracked by Insider Monkey were long this stock, up by 38% from the second quarter of 2016. The graph below displays the number of hedge funds with bullish position in STML over the last 5 quarters. So, let’s examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
According to Insider Monkey’s hedge fund database, Baker Bros. Advisors, led by Julian Baker and Felix Baker, holds the biggest position in Stemline Therapeutics Inc (NASDAQ:STML). Baker Bros. Advisors has a $3.6 million position in the stock. The second largest stake is held by Principal Global Investors of Columbus Circle Investors, with a $1.6 million position. Other professional money managers with similar optimism encompass Anders Hove and Bong Koh’s VHCP Management, Hal Mintz’s Sabby Capital and Thomas Bailard’s Bailard Inc. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.
As industrywide interest jumped, key hedge funds have been driving this bullishness. Columbus Circle Investors assembled the most outsized position in Stemline Therapeutics Inc (NASDAQ:STML). Sabby Capital also made a $1.1 million investment in the stock during the quarter. The other fund with new positions in the stock is Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.
Let’s check out hedge fund activity in other stocks similar to Stemline Therapeutics Inc (NASDAQ:STML). These stocks are Medgenics Inc (NYSEMKT:MDGN), Evolution Petroleum Corporation (NYSEAMEX:EPM), Newtek Business Services, Inc (NASDAQ:NEWT), and West Marine, Inc. (NASDAQ:WMAR). This group of stocks’ market values are closest to STML’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| MDGN | 9 | 51090 | -1 |
| EPM | 6 | 10923 | 3 |
| NEWT | 6 | 7903 | 0 |
| WMAR | 9 | 28869 | 3 |
As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $25 million. That figure was $11 million in STML’s case. Medgenics Inc (NYSEMKT:MDGN) is the most popular stock in this table. On the other hand Evolution Petroleum Corporation (NYSEAMEX:EPM) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Stemline Therapeutics Inc (NASDAQ:STML) 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
