44 Cash-Rich Stocks Smart Money Investors Are Buying
Contextuall | Dec 12, 2012 03:21AM ET
Screen Criteria:
List of stocks with significant institutional buying, and a significant cash vs operating expense ratio.
Average Weekly Returns:
Average 1-Week Return of All Stocks Mentioned Below: 0.15%
Average 1-Month Return of All Stocks Mentioned Below: 4.98%
Analysis of List Alpha:
Number of Stocks in This List Generating Excess Return vs. SP500 (Beta Adjusted Over Last Week): 17 out of 44 (38.64%)
Number of Stocks in This List Generating Excess Return vs. SP500 (Beta Adjusted Over Last Month): 24 out of 44 (54.55%)
Chart: Distribution of 1-Week Returns For All Stocks Mentioned Below
Chart: Distribution of 1-Month Returns For All Stocks Mentioned Below
1. Infinity Pharmaceuticals, Inc. (INFI): Engages in the discovery and development of medicines for the treatment of cancer and other conditions in the United States. Net institutional shares bought during the most recent quarter at 8.7M shares (39.28% of float at 22.15M shares). Average quarterly operating expense over the last five quarters at $24.72M, vs. most recent cash and short term investments at $188.77M, implies a Cash / Avg. Operating Expense ratio at 7.64.
2. Celldex Therapeutics, Inc. (CLDX): Engages in the development, manufacture, and commercialization of targeted immunotherapies that prevent or treat specific forms of cancer, autoimmune disorders, and diseases caused by infectious organisms. Net institutional shares bought during the most recent quarter at 5.1M shares (8.26% of float at 61.75M shares). Average quarterly operating expense over the last five quarters at $15.55M, vs. most recent cash and short term investments at $77.61M, implies a Cash / Avg. Operating Expense ratio at 4.99.
3. Idenix Pharmaceuticals Inc. (IDIX): Engages in the discovery and development of drugs for the treatment of human viral and other infectious diseases in the United States and Europe. Net institutional shares bought during the most recent quarter at 16.9M shares (23.76% of float at 71.12M shares). Average quarterly operating expense over the last five quarters at $22.45M, vs. most recent cash and short term investments at $251.87M, implies a Cash / Avg. Operating Expense ratio at 11.22.
4. Medivation, Inc. (MDVN): Focuses on the development of small molecule drugs for the treatment of castration-resistant prostate cancer, Alzheimer’s disease, and Huntington disease. Net institutional shares bought during the most recent quarter at 3.6M shares (5.41% of float at 66.60M shares). Average quarterly operating expense over the last five quarters at $39.47M, vs. most recent cash and short term investments at $340.41M, implies a Cash / Avg. Operating Expense ratio at 8.62.
5. Corcept Therapeutics Incorporated (CORT): Engages in the discovery and development of drugs for the treatment of severe metabolic and psychiatric disorders. Net institutional shares bought during the most recent quarter at 10.1M shares (15.71% of float at 64.31M shares). Average quarterly operating expense over the last five quarters at $8.92M, vs. most recent cash and short term investments at $101.63M, implies a Cash / Avg. Operating Expense ratio at 11.39.
6. Orexigen Therapeutics, Inc. (OREX): Focuses on the development of pharmaceutical product candidates for the treatment of obesity. Net institutional shares bought during the most recent quarter at 10.6M shares (14.30% of float at 74.13M shares). Average quarterly operating expense over the last five quarters at $14.19M, vs. most recent cash and short term investments at $108.28M, implies a Cash / Avg. Operating Expense ratio at 7.63.
7. Synergy Resources Corporation (SYRG): Engages in the acquisition, exploitation, exploration, development, and production of oil and natural gas properties primarily located in the Wattenberg field in Denver-Julesburg Basin in northeast Colorado. Net institutional shares bought during the most recent quarter at 3.2M shares (7.93% of float at 40.37M shares). Average quarterly operating expense over the last five quarters at $3.05M, vs. most recent cash and short term investments at $19.28M, implies a Cash / Avg. Operating Expense ratio at 6.32.
8. Alnylam Pharmaceuticals, Inc. (ALNY): Focuses on the discovery, development, and commercialization of novel therapeutics based on RNA interference (RNAi). Net institutional shares bought during the most recent quarter at 4.1M shares (9.44% of float at 43.42M shares). Average quarterly operating expense over the last five quarters at $33.32M, vs. most recent cash and short term investments at $228.34M, implies a Cash / Avg. Operating Expense ratio at 6.85.
9. Arena Pharmaceuticals, Inc. (ARNA): Focuses on discovering, developing, and commercializing oral drugs in the therapeutic areas of cardiovascular, central nervous system, inflammatory, and metabolic diseases. Net institutional shares bought during the most recent quarter at 29.5M shares (13.65% of float at 216.13M shares). Average quarterly operating expense over the last five quarters at $22.4M, vs. most recent cash and short term investments at $165.77M, implies a Cash / Avg. Operating Expense ratio at 7.4.
10. Xenoport, Inc. (XNPT): Focuses on developing and commercializing internally discovered product candidates that utilize the body’s natural nutrient transport mechanisms to enhance the therapeutic benefits of drugs. Net institutional shares bought during the most recent quarter at 8.4M shares (21.53% of float at 39.02M shares). Average quarterly operating expense over the last five quarters at $19.34M, vs. most recent cash and short term investments at $112.86M, implies a Cash / Avg. Operating Expense ratio at 5.83.
11. Immunogen Inc. (IMGN): Engages in the research and development of antibody-based anticancer therapeutics in the United States. Net institutional shares bought during the most recent quarter at 4.6M shares (5.48% of float at 83.90M shares). Average quarterly operating expense over the last five quarters at $23.79M, vs. most recent cash and short term investments at $233.61M, implies a Cash / Avg. Operating Expense ratio at 9.82.
12. MAP Pharmaceuticals, Inc. (MAPP): Focuses on the development and commercialization of inhalation therapies for patients suffering from migraine. Net institutional shares bought during the most recent quarter at 3.9M shares (13.12% of float at 29.72M shares). Average quarterly operating expense over the last five quarters at $14.76M, vs. most recent cash and short term investments at $114.22M, implies a Cash / Avg. Operating Expense ratio at 7.74.
13. Sunesis Pharmaceuticals Inc. (SNSS): Focuses on the development and commercialization of oncology therapeutics for the treatment of solid and hematologic cancers. Net institutional shares bought during the most recent quarter at 10.2M shares (41.48% of float at 24.59M shares). Average quarterly operating expense over the last five quarters at $9.03M, vs. most recent cash and short term investments at $76.55M, implies a Cash / Avg. Operating Expense ratio at 8.48.
14. Exact Sciences Corporation (EXAS): Focuses on developing a molecular diagnostic screening technology for the early detection and prevention of colorectal pre-cancer and cancer. Net institutional shares bought during the most recent quarter at 5.8M shares (9.95% of float at 58.27M shares). Average quarterly operating expense over the last five quarters at $12.31M, vs. most recent cash and short term investments at $118.57M, implies a Cash / Avg. Operating Expense ratio at 9.63.
15. Illumina Inc. (ILMN): Develops, manufactures, and markets integrated systems for the analysis of genetic variation and biological function. Net institutional shares bought during the most recent quarter at 8.8M shares (7.24% of float at 121.61M shares). Average quarterly operating expense over the last five quarters at $223.87M, vs. most recent cash and short term investments at $1233.07M, implies a Cash / Avg. Operating Expense ratio at 5.51.
16. Two Harbors Investment Corp. (TWO): Operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS) and related investments. Net institutional shares bought during the most recent quarter at 58.9M shares (20.04% of float at 293.85M shares). Average quarterly operating expense over the last five quarters at $55.76M, vs. most recent cash and short term investments at $833.61M, implies a Cash / Avg. Operating Expense ratio at 14.95.
17. Repros Therapeutics Inc. (RPRX): Net institutional shares bought during the most recent quarter at 2.6M shares (20.44% of float at 12.72M shares). Average quarterly operating expense over the last five quarters at $3.36M, vs. most recent cash and short term investments at $29.58M, implies a Cash / Avg. Operating Expense ratio at 8.8.
18. VIVUS Inc. (VVUS): Engages in the development and commercialization of therapeutic products for underserved markets in the United States. Net institutional shares bought during the most recent quarter at 5.8M shares (7.02% of float at 82.66M shares). Average quarterly operating expense over the last five quarters at $20.9M, vs. most recent cash and short term investments at $274.48M, implies a Cash / Avg. Operating Expense ratio at 13.13.
19. Arlington Asset Investment Corp. (AI): Arlington Asset Investment Corp., an investment firm, acquires mortgage-related and other assets. Net institutional shares bought during the most recent quarter at 1.3M shares (15.01% of float at 8.66M shares). Average quarterly operating expense over the last five quarters at $4.99M, vs. most recent cash and short term investments at $85.74M, implies a Cash / Avg. Operating Expense ratio at 17.17.
20. SolarWinds, Inc. (SWI): Designs, develops, markets, sells, and supports enterprise information technology (IT) infrastructure management software to IT professionals. Net institutional shares bought during the most recent quarter at 3.2M shares (5.12% of float at 62.44M shares). Average quarterly operating expense over the last five quarters at $35.06M, vs. most recent cash and short term investments at $195.71M, implies a Cash / Avg. Operating Expense ratio at 5.58.
21. Zillow, Inc. (Z): Operates an online real estate information marketplace. Net institutional shares bought during the most recent quarter at 7.1M shares (40.73% of float at 17.43M shares). Average quarterly operating expense over the last five quarters at $23.18M, vs. most recent cash and short term investments at $228.88M, implies a Cash / Avg. Operating Expense ratio at 9.88.
22. Maxygen, Inc. (MAXY): Focuses on developing improved versions of protein drugs. Net institutional shares bought during the most recent quarter at 3.0M shares (12.25% of float at 24.48M shares). Average quarterly operating expense over the last five quarters at $2.63M, vs. most recent cash and short term investments at $83.48M, implies a Cash / Avg. Operating Expense ratio at 31.77.
23. Threshold Pharmaceuticals Inc. (THLD): Engages in the discovery and development of drugs targeting the microenvironment of solid tumors for patients living with cancer. Net institutional shares bought during the most recent quarter at 4.3M shares (9.52% of float at 45.18M shares). Average quarterly operating expense over the last five quarters at $6.76M, vs. most recent cash and short term investments at $65.83M, implies a Cash / Avg. Operating Expense ratio at 9.74.
24. Resource Capital Corp. (RSO): Operates as a specialty finance company that focuses primarily on commercial real estate and commercial finance in the United States. Net institutional shares bought during the most recent quarter at 6.1M shares (6.40% of float at 95.34M shares). Average quarterly operating expense over the last five quarters at $16.96M, vs. most recent cash and short term investments at $112.73M, implies a Cash / Avg. Operating Expense ratio at 6.65.
25. SPS Commerce, Inc. (SPSC): Provides on-demand supply chain management solutions worldwide. Net institutional shares bought during the most recent quarter at 2.2M shares (15.10% of float at 14.57M shares). Average quarterly operating expense over the last five quarters at $16.8M, vs. most recent cash and short term investments at $69.72M, implies a Cash / Avg. Operating Expense ratio at 4.15.
26. Nanosphere, Inc. (NSPH): Develops, manufactures, and markets a molecular diagnostics platform, the Verigene System that enables genomic and protein testing on a single platform. Net institutional shares bought during the most recent quarter at 4.9M shares (19.41% of float at 25.25M shares). Average quarterly operating expense over the last five quarters at $9.66M, vs. most recent cash and short term investments at $41.92M, implies a Cash / Avg. Operating Expense ratio at 4.34.
27. Ellington Financial LLC (EFC): Net institutional shares bought during the most recent quarter at 2.2M shares (14.22% of float at 15.47M shares). Average quarterly operating expense over the last five quarters at $7.14M, vs. most recent cash and short term investments at $69.22M, implies a Cash / Avg. Operating Expense ratio at 9.69.
28. Aegerion Pharmaceuticals, Inc. (AEGR): Engages in the development and commercialization of novel therapeutics to treat severe lipid disorders. Net institutional shares bought during the most recent quarter at 2.8M shares (17.48% of float at 16.02M shares). Average quarterly operating expense over the last five quarters at $12.64M, vs. most recent cash and short term investments at $95.46M, implies a Cash / Avg. Operating Expense ratio at 7.55.
29. Ellie Mae, Inc. Common Stock (ELLI): Ellie Mae, Inc. and its subsidiaries host electronic mortgage origination network in the United States. Net institutional shares bought during the most recent quarter at 2.7M shares (13.47% of float at 20.05M shares). Average quarterly operating expense over the last five quarters at $17.48M, vs. most recent cash and short term investments at $93.86M, implies a Cash / Avg. Operating Expense ratio at 5.37.
30. Kennedy-Wilson Holdings, Inc. (KW): Operates as a diversified real estate company that provides investment and real estate services in the United States and Japan. Net institutional shares bought during the most recent quarter at 7.4M shares (17.81% of float at 41.56M shares). Average quarterly operating expense over the last five quarters at $19.02M, vs. most recent cash and short term investments at $126.8M, implies a Cash / Avg. Operating Expense ratio at 6.67.
31. THL Credit, Inc. (TCRD): A private equity and mezzanine firm. Net institutional shares bought during the most recent quarter at 4.3M shares (20.53% of float at 20.95M shares). Average quarterly operating expense over the last five quarters at $4.98M, vs. most recent cash and short term investments at $25.95M, implies a Cash / Avg. Operating Expense ratio at 5.21.
32. Newcastle Investment Corp. (NCT): Operates as a real estate investment and finance company that invests in and manages a portfolio consisting primarily of real estate securities. Net institutional shares bought during the most recent quarter at 12.0M shares (6.96% of float at 172.50M shares). Average quarterly operating expense over the last five quarters at $43.56M, vs. most recent cash and short term investments at $229.04M, implies a Cash / Avg. Operating Expense ratio at 5.26.
33. Insmed Incorporated (INSM): Focuses on the development of inhaled pharmaceuticals for the site-specific treatment of serious lung diseases. Net institutional shares bought during the most recent quarter at 5.3M shares (33.44% of float at 15.85M shares). Average quarterly operating expense over the last five quarters at $14.45M, vs. most recent cash and short term investments at $89.75M, implies a Cash / Avg. Operating Expense ratio at 6.21.
34. Evolution Petroleum Corp. (EPM): Engages in the acquisition, exploitation, and development of properties for the production of crude oil and natural gas in Louisiana. Net institutional shares bought during the most recent quarter at 849.7K shares (5.47% of float at 15.52M shares). Average quarterly operating expense over the last five quarters at $2.3M, vs. most recent cash and short term investments at $13.38M, implies a Cash / Avg. Operating Expense ratio at 5.82.
35. Kohlberg Kravis Roberts & Co. (KKR): Kohlberg Kravis Roberts & Co. is a private equity and venture capital firm specializing in acquisitions, leveraged buyouts, management buyouts, and mezzanine investments in large cap companies. Net institutional shares bought during the most recent quarter at 22.7M shares (10.44% of float at 217.44M shares). Average quarterly operating expense over the last five quarters at $339.9M, vs. most recent cash and short term investments at $1603.44M, implies a Cash / Avg. Operating Expense ratio at 4.72.
36. Exelixis, Inc. (EXEL): Engages in the discovery, development, and commercialization of small molecule drugs for the treatment of cancer, metabolic, and cardiovascular disorders. Net institutional shares bought during the most recent quarter at 44.8M shares (26.51% of float at 169.00M shares). Average quarterly operating expense over the last five quarters at $42.08M, vs. most recent cash and short term investments at $484.59M, implies a Cash / Avg. Operating Expense ratio at 11.52.
37. Fluidigm Corporation (FLDM): Engages in the development, manufacture, and marketing of microfluidic systems for growth markets in the life science and agricultural biotechnology (Ag-Bio) industries. Net institutional shares bought during the most recent quarter at 5.2M shares (24.11% of float at 21.57M shares). Average quarterly operating expense over the last five quarters at $16.37M, vs. most recent cash and short term investments at $86.16M, implies a Cash / Avg. Operating Expense ratio at 5.26.
38. NGP Capital Resources Company (NGPC): NGP Capital Resources Company is a business development company specializing in investments in small and mid size and middle market companies. Net institutional shares bought during the most recent quarter at 1.1M shares (5.37% of float at 20.49M shares). Average quarterly operating expense over the last five quarters at $2.8M, vs. most recent cash and short term investments at $31.86M, implies a Cash / Avg. Operating Expense ratio at 11.38.
39. Agenus Inc. (AGEN): Develops and commercializes immunotherapies for cancer and infectious diseases. Net institutional shares bought during the most recent quarter at 1.5M shares (6.82% of float at 22.01M shares). Average quarterly operating expense over the last five quarters at $5.61M, vs. most recent cash and short term investments at $25.46M, implies a Cash / Avg. Operating Expense ratio at 4.54.
40. HomeAway, Inc. (AWAY): Operates an online marketplace for the vacation rental industry. Net institutional shares bought during the most recent quarter at 5.6M shares (14.17% of float at 39.52M shares). Average quarterly operating expense over the last five quarters at $58.15M, vs. most recent cash and short term investments at $244.21M, implies a Cash / Avg. Operating Expense ratio at 4.2.
41. Achillion Pharmaceuticals, Inc. (ACHN): Engages in the discovery, development, and commercialization of treatments for infectious diseases. Net institutional shares bought during the most recent quarter at 10.2M shares (16.56% of float at 61.61M shares). Average quarterly operating expense over the last five quarters at $12.32M, vs. most recent cash and short term investments at $80.91M, implies a Cash / Avg. Operating Expense ratio at 6.57.
42. Vista Gold Corp. (VGZ): Engages in the evaluation, acquisition, exploration, and advancement of gold exploration and development projects in Australia, North America, and Indonesia. Net institutional shares bought during the most recent quarter at 6.4M shares (8.37% of float at 76.45M shares). Average quarterly operating expense over the last five quarters at $8.17M, vs. most recent cash and short term investments at $122.39M, implies a Cash / Avg. Operating Expense ratio at 14.97.
43. Synthesis Energy Systems, Inc. (SYMX): Operates as a global energy and gasification technology company that provides products and solutions to the energy and chemicals industries. Net institutional shares bought during the most recent quarter at 4.1M shares (12.14% of float at 33.76M shares). Average quarterly operating expense over the last five quarters at $5.06M, vs. most recent cash and short term investments at $22.73M, implies a Cash / Avg. Operating Expense ratio at 4.49.
44. Tranzyme, Inc. (TZYM): Focuses on discovering, developing, and commercializing small molecule therapeutics for the treatment of acute and chronic gastrointestinal (GI) motility disorders in the United States and internationally. Net institutional shares bought during the most recent quarter at 3.6M shares (29.24% of float at 12.31M shares). Average quarterly operating expense over the last five quarters at $8.27M, vs. most recent cash and short term investments at $40.77M, implies a Cash / Avg. Operating Expense ratio at 4.93.
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