The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards Windtree Therapeutics Inc (NASDAQ:WINT).
Hedge fund interest in Windtree Therapeutics Inc (NASDAQ:WINT) shares was flat at the end of last quarter. This is usually a negative indicator. At the end of this article we will also compare WINT to other stocks including Triangle Petroleum Corporation (NYSEAMEX:TPLM), Provectus Biopharmaceuticals Inc (NYSEMKT:PVCT), and Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) to get a better sense of its popularity.
Follow Windtree Therapeutics Inc (NASDAQ:WINT)
Follow Windtree Therapeutics Inc (NASDAQ:WINT)
At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.
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Keeping this in mind, let’s view the new action regarding Windtree Therapeutics Inc (NASDAQ:WINT).
What have hedge funds been doing with Windtree Therapeutics Inc (NASDAQ:WINT)?
At the end of the third quarter, a total of 7 of the hedge funds tracked by Insider Monkey were bullish on this stock, unchanged from the second quarter of 2016. The graph below displays the number of hedge funds with bullish position in WINT over the last 5 quarters. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were upping their stakes considerably (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Kevin Kotler’s Broadfin Capital has the number one position in Windtree Therapeutics Inc (NASDAQ:WINT), worth close to $2 million, amounting to 0.2% of its total 13F portfolio. On Broadfin Capital’s heels is DAFNA Capital Management, led by Nathan Fischel, holding a $1.2 million position; the fund has 0.9% of its 13F portfolio invested in the stock. Remaining members of the smart money that are bullish comprise Anand Parekh’s Alyeska Investment Group, Hal Mintz’s Sabby Capital and Julian Baker and Felix Baker’s Baker Bros. Advisors. 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.
Earlier we told you that the aggregate hedge fund interest in the stock was unchanged and we view this as a negative development. Even though there weren’t any hedge funds dumping their holdings during the third quarter, there weren’t any hedge funds initiating brand new positions. This indicates that hedge funds, at the very best, perceive this stock as dead money and they haven’t identified any viable catalysts that can attract investor attention.
Let’s now review hedge fund activity in other stocks similar to Windtree Therapeutics Inc (NASDAQ:WINT). These stocks are Triangle Petroleum Corporation (NYSEAMEX:TPLM), Provectus Biopharmaceuticals Inc (NYSEMKT:PVCT), Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC), and Acura Pharmaceuticals, Inc. (NASDAQ:ACUR). This group of stocks’ market values resemble WINT’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| TPLM | 5 | 128 | 0 |
| PVCT | 4 | 548 | -1 |
| CYCC | 4 | 4249 | 2 |
| ACUR | 4 | 2386 | 4 |
As you can see these stocks had an average of 4 hedge funds with bullish positions and the average amount invested in these stocks was $2 million. That figure was $7 million in WINT’s case. Triangle Petroleum Corporation (NYSEAMEX:TPLM) is the most popular stock in this table. On the other hand Provectus Biopharmaceuticals Inc (NYSEMKT:PVCT) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Windtree Therapeutics Inc (NASDAQ:WINT) 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.
