Hedge Funds Are Betting On Coherus Biosciences Inc (CHRS)

With a general bullishness amongst the heavyweights, key money managers were breaking ground themselves. OrbiMed Advisors, managed by Samuel Isaly, created the most valuable position in Coherus Biosciences Inc (NASDAQ:CHRS). The fund reportedly had $18 million invested in the company at the end of the quarter. Roberto Mignone’s Bridger Management also initiated a $9.6 million position during the quarter. The other funds with new positions in the stock are D. E. Shaw’s D E Shaw, Michael Castor’s Sio Capital, and David Costen Haley’s HBK Investments.

Let’s also examine hedge fund activity in other stocks similar to Coherus Biosciences Inc (NASDAQ:CHRS). We will take a look at Pacific Premier Bancorp, Inc. (NASDAQ:PPBI), Lydall, Inc. (NYSE:LDL), Veeco Instruments Inc. (NASDAQ:VECO), and VASCO Data Security International, Inc. (NASDAQ:VDSI). This group of stocks’ market caps resemble CHRS’s market cap.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $73 million. That figure was $121 million in CHRS’s case. VASCO Data Security International, Inc. (NASDAQ:VDSI) is the most popular stock in this table. On the other hand Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) is the least popular one with only 10 bullish hedge fund positions. Compared to these stocks Coherus Biosciences Inc (NASDAQ:CHRS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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Disclosure: none.