Why Are Investors Bullish On These Five Stocks On Thursday?

Wall Street is trading lower for the second consecutive day today, but shares of Inventergy Global Inc (NASDAQ:INVT), Dynavax Technologies Corporation (NASDAQ:DVAX), Uniqure NV (NASDAQ:QURE), Zumiez Inc. (NASDAQ:ZUMZ) and J C Penney Company Inc (NYSE:JCP) are trading with big gains. So let’s take a look at the news surrounding these stocks today and see the hedge fund sentiment towards them.

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The first on the list is Inventergy Global Inc (NASDAQ:INVT), whose stock has more than doubled, after the company announced that it reached an agreement with its patent partner Panasonic Corporation. Under the terms of the accord, the guaranteed minimum payments and related accrued interest will be eliminated. In this way, the company has lowered by $17.3 million its liabilities and has eliminated $1.0 million of accrued interest expense (financial data as of December 31). Moreover, reducing the liabilities makes the company avoid $120,000 per month of future interest expense. Future payments will be based on monetization transactions, such as licensing and sales deals. Among the funds we track, Inventergy Global is not very popular with only two funds reporting long positions equal to 1.4% of the company as of the end of September.

Second in our list is Dynavax Technologies Corporation (NASDAQ:DVAX), whose shares are up by around 16.5% today after the company announced better results from its hepatitis B vaccine, HEPLISAV-B, as compared with Engerix-B, a currently marketed vaccine. The results of the late-stage study, showed that the vaccine is more safe and more efficient than the existing product. Furthermore, Dynavax plans to open a strategic partnership for commercialization of the vaccine. The drugmaker will submit the regulatory application to the FDA by March. Dynavax Technologies Corporation (NASDAQ:DVAX) also gained popularity in the third quarter and, out of the 730 funds that we track, 32 funds held shares on September 30, amassing 36.9% of the float. Samuel Isaly‘s OrbiMed Advisors has the most valuable position in Dynavax Technologies, worth $60.67 million at the end of September.

Uniqure NV (NASDAQ:QURE) is another company that is gaining ground today on the back of positive experimental therapy results. The AMT-060 therapy attempts to correct a genetic defect caused by the missing or defective factor IX in patients with hemophilia. The experimental treatment showed an increased capacity of blood clotting in two hemophilia B patients, while three other patients are still waiting for the results. During the third quarter, Uniqure NV (NASDAQ:QURE) registered a decrease in popularity among the funds we track, with 15 investors holding long positions at the end of September, versus 17 funds a quarter earlier, amassing around 13.8% of its outstanding stock.

Moving on, Zumiez Inc. (NASDAQ:ZUMZ)’s shares are up by around 18% today after the company has raised its EPS and revenue guidance for the fourth quarter of fiscal 2015. The retailer expects EPS of $0.45 to $0.47 versus the previous range of $0.40 to $0.46 and a $0.43 consensus analyst estimate. Also, Zumiez forecasts revenue in the range of $237 million to $239 million, compared to its previous range of $226 million to $231 million. Of the around 730 funds we track, 12 funds owned 4.4% of Zumiez’s stock at the end of September. Among the funds long the stock Chuck Royce’s Royce & Associates, with a holding of 274,728 shares, valued at $4.29 million at the end of September.

Finally, among the gainers today is J C Penney Company Inc (NYSE:JCP), whose stock is trading higher on the back of a 3.9% increase in same-store sales reported by the company for November and December, as a consequence of a higher demand for its private-label offerings and gift products as well as its higher online sales. Moreover, the company has reiterated its full-year EBITDA guidance of $645 million, excluding one-time items. J C Penney Company Inc (NYSE:JCP) registered an increase in popularity among the funds we track, with 35 investors holding long positions at the end of September, versus 31 funds in the second quarter. Jim Simons‘ Renaissance Technologies is the largest shareholder with 14.67 million shares, valued at $136.27 million at the end of September.

Disclosure: none