Last year, we forecasted the start of the first US recession since 2009, and we predicted that the stock market would drop by at least 20% in 2012. In these choppy markets, we look at hedge fund filings to get a sense of which way each stock is headed. We’ll take a closer look at hedge fund opinion toward Unity Biotechnology, Inc. in this piece. Is Unity Biotechnology, Inc. currently deserving of your attention?
The most successful stock pickers were gaining confidence. In recent months, the number of bullish hedge fund bets has increased by six. After the second quarter, Unity Biotechnology, Inc. was in the portfolios of ten hedge funds. This statistic has reached an all-time high of 7. This signifies that the amount of bullish hedge fund holdings in this stock has reached an all-time high. Nevertheless, according to our findings, UBX isn’t among the top 30 most popular stocks among hedge funds (click for Q2 rankings).
Since its introduction in March 2017, Insider Monkey’s primary short hedge fund strategy has outperformed the S&P 500 short ETFs by about 20% every year. In addition, since March 2017, our monthly newsletter’s portfolio of long stock choices has returned 185.4 percent, outperforming the S&P 500 Index by more than 79 percentage points.