Here Is What Hedge Funds Think Of Coherus Biosciences Inc (CHRS)

Judging by the fact that Coherus Biosciences Inc (NASDAQ:CHRS) has faced a declination in interest from the aggregate hedge fund industry, it’s easy to see that there was a specific group of fund managers that slashed their full holdings heading into Q4. Intriguingly, Joseph Edelman’s Perceptive Advisors dumped the largest investment of all the hedgies monitored by Insider Monkey, worth about $7.5 million in stock. Jonathan Lourie and Stuart Fiertz’s fund, Cheyne Capital, also said goodbye to its stock, about $2.5 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest fell by 2 funds heading into Q4.

Let’s go over hedge fund activity in other stocks similar to Coherus Biosciences Inc (NASDAQ:CHRS). We will take a look at Rexford Industrial Realty Inc (NYSE:REXR), Zoe’s Kitchen Inc (NYSE:ZOES), Cosan Limited (USA) (NYSE:CZZ), and ACCO Brands Corporation (NYSE:ACCO). This group of stocks’ market valuations resemble CHRS’s market valuation.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $74 million. That figure was $99 million in CHRS’s case. Cosan Limited (USA) (NYSE:CZZ) is the most popular stock in this table. On the other hand Rexford Industrial Realty Inc (NYSE:REXR) is the least popular one with only 7 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.