Published on 31 May 2021 on Insider Monkey via Yahoo Finance

Is Graybug Vision, Inc. (GRAY) A Good Stock To Buy?

Last year we predicted the arrival of the first US recession since 2009 and we told in advance that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. In this article, we will take a closer look at hedge fund sentiment towards Graybug Vision, Inc. (NASDAQ:GRAY).

Is Graybug Vision, Inc. (NASDAQ:GRAY) a great investment right now? Money managers were taking a pessimistic view. The number of long hedge fund bets were trimmed by 2 recently. Graybug Vision, Inc. (NASDAQ:GRAY) was in 3 hedge funds' portfolios at the end of the first quarter of 2021. The all time high for this statistic is 10. Our calculations also showed that GRAY isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings).

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 115 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.