The Most Popular French Stocks Among Hedge Funds

#4. Flamel Technologies S.A. (ADR) (NASDAQ:FLML)

– Hedge Funds With Long Positions (as of March 31): 10

– Aggregate Value of Hedge Funds’ Holdings (as of March 31): $119.65 Million

Flamel Technologies S.A. (ADR) (NASDAQ:FLML) fell out of favor with the hedge fund vehicles followed by Insider Monkey during the first three months of 2016, with the number of funds invested in the company falling to ten from 14 quarter-over-quarter. The overall value of those funds’ long positions in the company also shrank by 11% to $119.65 million. The ten money managers long the stock amassed almost 27% of the company’s outstanding common stock. In late April, the France-based specialty pharmaceutical company received FDA approval for its third unapproved marketed drug called Akovaz, which represents the company’s formation of ephedrine sulfate injection. Flamel Technologies plans to begin marketing the product in the third quarter of 2016, thus unlocking a new revenue stream. The sales of the company’s Bloziverz have been impacted by the entrance of a third competitor to the neostigmine market in December, which is anticipated to put pressure on the market share of Flamel’s drug. Kevin Kotler’s Broadfin Capital had 4.39 million ADS’s of Flamel Technologies S.A. (ADR) (NASDAQ:FLML) in its portfolio at the end of March.

#3. DBV Technologies SA – ADR (NASDAQ:DBVT)

– Hedge Funds With Long Positions (as of March 31): 12

– Aggregate Value of Hedge Funds’ Holdings (as of March 31): $280.21 Million

There were 12 asset managers tracked by our team with stakes in DBV Technologies SA – ADR (NASDAQ:DBVT) at the end of the first quarter, down from 16 registered at the end of the December quarter. Similarly, the aggregate value of those collective stakes fell by 9% quarter-over-quarter to $280.21 million. Nearly 37% of the company’s outstanding shares were being hoarded by the money managers in our system. In late May, the French clinical-stage specialty biopharmaceutical company announced that it had inked a collaboration agreement with food giant Nestle Group to develop a cow’s milk allergy diagnostic test for babies and young children. The biotechnology upstart is well-known for its focus on innovative tests for children suffering from food allergies for which there are no FDA-approved treatments just yet. Nestle will pay DBV Technologies an upfront payment of €10 million, as well as up to an additional €100 million in milestone incentive payments. DBV’s ADS’s are down by 8% year-to-date. Baker Bros. Advisors, run by Julian Baker and Felix Baker, owns 5.51 million ADS’s of DBV Technologies SA – ADR (NASDAQ:DBVT) as of the end of the first quarter.

The final page of this article will reveal the two French stocks most favored by the hedge funds tracked by Insider Monkey.