A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended June 30th, so let’s proceed with the discussion of the hedge fund sentiment on Uniqure NV (NASDAQ:QURE).
Is Uniqure NV (NASDAQ:QURE) the right pick for your portfolio? Hedge funds were turning bullish. The number of long hedge fund bets inched up by 3 recently. Uniqure NV (NASDAQ:QURE) was in 28 hedge funds’ portfolios at the end of June. The all time high for this statistic is 49. Our calculations also showed that QURE isn’t among the 30 most popular stocks among hedge funds (click for Q2 rankings). There were 25 hedge funds in our database with QURE positions at the end of the first quarter.
Why do we pay any attention at all to hedge fund sentiment? Our research has shown that a select group of hedge fund holdings outperformed the S&P 500 ETFs by 79 percentage points since March 2017 (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.
At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Keeping this in mind we’re going to take a look at the key hedge fund action encompassing Uniqure NV (NASDAQ:QURE).
Do Hedge Funds Think QURE Is A Good Stock To Buy Now?
At second quarter’s end, a total of 28 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 12% from the previous quarter. Below, you can check out the change in hedge fund sentiment towards QURE over the last 24 quarters. With the smart money’s capital changing hands, there exists an “upper tier” of key hedge fund managers who were increasing their stakes substantially (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Wilmot B. Harkey and Daniel Mack’s Nantahala Capital Management has the number one call position in Uniqure NV (NASDAQ:QURE), worth close to $64.9 million, amounting to 1.8% of its total 13F portfolio. Coming in second is Point72 Asset Management, managed by Steve Cohen, which holds a $57.7 million position; 0.3% of its 13F portfolio is allocated to the company. Remaining professional money managers that hold long positions comprise Wilmot B. Harkey and Daniel Mack’s Nantahala Capital Management, Ken Griffin’s Citadel Investment Group and Marc Schneidman’s Aquilo Capital Management. In terms of the portfolio weights assigned to each position Aquilo Capital Management allocated the biggest weight to Uniqure NV (NASDAQ:QURE), around 9.26% of its 13F portfolio. Nantahala Capital Management is also relatively very bullish on the stock, setting aside 1.84 percent of its 13F equity portfolio to QURE.
Now, key hedge funds have jumped into Uniqure NV (NASDAQ:QURE) headfirst. Kingdon Capital, managed by Mark Kingdon, assembled the biggest call position in Uniqure NV (NASDAQ:QURE). Kingdon Capital had $6.2 million invested in the company at the end of the quarter. Doron Breen and Mori Arkin’s Sphera Global Healthcare Fund also initiated a $5.3 million position during the quarter. The other funds with new positions in the stock are Himanshu Gulati’s Antara Capital, Paul Marshall and Ian Wace’s Marshall Wace LLP, and Richard SchimeláandáLawrence Sapanski’s Cinctive Capital Management.
Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Uniqure NV (NASDAQ:QURE) but similarly valued. These stocks are Kosmos Energy Ltd (NYSE:KOS), FARO Technologies, Inc. (NASDAQ:FARO), Extreme Networks, Inc (NASDAQ:EXTR), Houghton Mifflin Harcourt Co (NASDAQ:HMHC), IAMGOLD Corporation (NYSE:IAG), Broadmark Realty Capital Inc. (NYSE:BRMK), and Berkshire Hills Bancorp, Inc. (NYSE:BHLB). This group of stocks’ market caps are closest to QURE’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| KOS | 17 | 71037 | 9 |
| FARO | 13 | 169071 | -1 |
| EXTR | 20 | 158359 | -5 |
| HMHC | 21 | 206768 | -4 |
| IAG | 19 | 124352 | -3 |
| BRMK | 12 | 91152 | 0 |
| BHLB | 11 | 43655 | 0 |
| Average | 16.1 | 123485 | -0.6 |
View table here if you experience formatting issues.
As you can see these stocks had an average of 16.1 hedge funds with bullish positions and the average amount invested in these stocks was $123 million. That figure was $303 million in QURE’s case. Houghton Mifflin Harcourt Co (NASDAQ:HMHC) is the most popular stock in this table. On the other hand Berkshire Hills Bancorp, Inc. (NYSE:BHLB) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Uniqure NV (NASDAQ:QURE) is more popular among hedge funds. Our overall hedge fund sentiment score for QURE is 75.1. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 24.9% in 2021 through October 15th and still beat the market by 4.5 percentage points. Unfortunately QURE wasn’t nearly as popular as these 5 stocks and hedge funds that were betting on QURE were disappointed as the stock returned -2.4% since the end of the second quarter (through 10/15) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds as most of these stocks already outperformed the market since 2019.
Follow Uniqure N.v. (NASDAQ:QURE)
Follow Uniqure N.v. (NASDAQ:QURE)
Suggested Articles:
- 10 Best Dividend ETFs to Buy According to Reddit
- 11 Best Casino and Gambling Stocks To Buy Now
- 10 States with the Cheapest Health Insurance
Disclosure: None. This article was originally published at Insider Monkey.
