These Stocks Are Surging but See Which Ones Hedge Funds Think are Worth Investing In

The markets have been advancing on Friday after an encouraging speech from the Fed’s Janet Yellen, who said that there is a high probability that the interest rates will be increased this year, which ensured the investors about the Fed’s confidence in the economy. However, among the overall uptrend, several companies managed to stand above the crowd, registering gains that go as much as over 80% boost of the Bellerophon Therapeutics Inc (NASDAQ:BLPH)‘s stock. In this article, we will take a closer look at some of the top gainers on Friday and will see whether the smart money have been as bullish on them as the overall market today.

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In this way, let’s take a closer look at the Friday intraday gainers, starting with Bellerophon Therapeutics Inc (NASDAQ:BLPH), which surged the most today, although despite the 80% boost, it is still down by 24% year-to-date. Nevertheless, the news that sparked the gain signal also a potential for the long-term as it involved the announcement of positive data from the company’s Phase 2 study of INOpulse for the treatment of Pulmonary Arterial Hypertension. Bellerophon, a developer of bio-therapeutic drugs, has also received a Special Protocol Assessment for its Phase 3 program from the US Food and Drug Administration.

Even though Bellerophon Therapeutics Inc (NASDAQ:BLPH) is not very popular among the funds we track, the six funds that disclosed stakes as of the end of June amassed nearly 45% of the company. Moreover, as the number of funds with long positions in the company declined by one between April and June, the aggregate value of their holdings fell to $45.99 million from $54.72 million. Nevertheless, the largest position among these investors is held by Steven B. Klinsky‘s New Mountain Capital, which disclosed ownership of 4.86 million shares worth $38.53 million, representing the last of the fund’s three holdings. Baker Bros. Advisors is also bullish on the company, owning 350,000 shares as of the end of the second quarter.