The government requires hedge funds and wealthy investors with over a certain portfolio size to file a report that shows their positions at the end of every quarter. Even though it isn’t the intention, these filings level the playing field for ordinary investors. The latest round of 13F filings discloses the funds’ positions on September 30. We at Insider Monkey have made an extensive database of more than 700 of those elite funds and prominent investors’ filings. In this article, we analyze how these elite funds and prominent investors traded Akari Therapeutics PLC (ADR) (NASDAQ:AKTX) based on those filings.
Akari Therapeutics PLC (ADR) (NASDAQ:AKTX) has seen an increase in enthusiasm from smart money in recent months with a total of 9 funds long the stock. At the end of this article we will also compare AKTX to other stocks including Trinity Biotech plc (ADR) (NASDAQ:TRIB), American Software, Inc. (NASDAQ:AMSWA), and Blount International, Inc. (NYSE:BLT) to get a better sense of its popularity.
Follow Akari Therapeutics Plc (NASDAQ:AKTX)
Follow Akari Therapeutics Plc (NASDAQ:AKTX)
In the eyes of most traders, hedge funds are perceived as slow, old financial vehicles of yesteryear. While there are over 8000 funds trading at the moment, Our experts hone in on the top tier of this club, about 700 funds. These hedge fund managers preside over the majority of the hedge fund industry’s total capital, and by following their inimitable investments, Insider Monkey has identified various investment strategies that have historically beaten the broader indices. Insider Monkey’s small-cap hedge fund strategy outperformed the S&P 500 index by 12 percentage points per annum for a decade in their back tests.
Keeping this in mind, let’s take a glance at the recent action surrounding Akari Therapeutics PLC (ADR) (NASDAQ:AKTX).
What does the smart money think about Akari Therapeutics PLC (ADR) (NASDAQ:AKTX)?
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, James E. Flynn’s Deerfield Management has the largest position in Akari Therapeutics PLC (ADR) (NASDAQ:AKTX), worth close to $27.6 million, amounting to 1.1% of its total 13F portfolio. Sitting at the No. 2 spot is VHCP Management, managed by Anders Hove and Bong Koh, which holds an $12.7 million position; 3.2% of its 13F portfolio is allocated to the stock. Some other members of the smart money that are bullish consist of Julian Baker and Felix Baker’s Baker Bros. Advisors, Peter Kolchinsky’s RA Capital Management and Oleg Nodelman’s EcoR1 Capital.
Now, specific money managers have jumped into Akari Therapeutics PLC (ADR) (NASDAQ:AKTX) headfirst. Deerfield Management, managed by James E. Flynn, assembled the most valuable position in Akari Therapeutics PLC (ADR) (NASDAQ:AKTX). Deerfield Management had $27.6 million invested in the company at the end of the quarter. Anders Hove and Bong Koh’s VHCP Management also initiated an $12.7 million position during the quarter. The following funds were also among the new AKTX investors: Julian Baker and Felix Baker’s Baker Bros. Advisors, Peter Kolchinsky’s RA Capital Management, and Oleg Nodelman’s EcoR1 Capital.
Let’s now review hedge fund activity in other stocks similar to Akari Therapeutics PLC (ADR) (NASDAQ:AKTX). These stocks are Trinity Biotech plc (ADR) (NASDAQ:TRIB), American Software, Inc. (NASDAQ:AMSWA), Blount International, Inc. (NYSE:BLT), and Navios Maritime Holdings Inc. (NYSE:NM). This group of stocks’ market caps are similar to AKTX’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| TRIB | 20 | 57248 | 1 |
| AMSWA | 7 | 18267 | 2 |
| BLT | 20 | 113965 | -4 |
| NM | 9 | 16096 | -4 |
As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $51 million. That figure was $62 million in AKTX’s case. Trinity Biotech plc (ADR) (NASDAQ:TRIB) is the most popular stock in this table. On the other hand American Software, Inc. (NASDAQ:AMSWA) is the least popular one with only 7 bullish hedge fund positions. Akari Therapeutics PLC (ADR) (NASDAQ:AKTX) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard TRIB might be a better candidate to consider a long position.
