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JUNO Therapeutics Inc (JUNO); Coherus Biosciences Inc (CHRS), Stemline Therapeutics Inc (STML): VCHP’s Bullish Sentiment Pays Off

Juno Therapeutics Inc (NASDAQ:JUNO) is up by 15% as of Thursday afternoon, following the release of its first-ever earnings report since its IPO. The company registered a loss of $1.73 per share for the fourth quarter, much wider than the analyst consensus estimate of a loss of $0.33 per share. Although it failed to meet the expectations of Wall Street, investors continue to bet on Juno, as demonstrated by the heavy trading experienced the day after the report was released. VHCP Management ranks as the company’s largest shareholder among the institutional investors we track, holding 1.75 million shares of its outstanding stock.

Juno Therapeutics

Venrock Healthcare Capital Partners, L.P. was originally founded in 1969 by Laurence S. Rockefeller, as the venture capital branch of the Rockefeller family. The investment firm has always been engaged in the technology sector, while placing its focus on the healthcare industry and biotechnology sector in recent years. As it tends to invest in early-stage companies and start-ups, VHCP Management continues to establish partnerships with entrepreneurs in order to create successful and long-lasting businesses.  The fund has been very successful in its ventures, landing big wins by supporting publicly traded equities such as Apple Inc (NASDAQ:AAPL), Intel Corporation (NASDAQ:INTC), and Gilead Sciences, Inc. (NASDAQ:GILD). According to its latest 13F filing, the investment firm’s equity portfolio amounts to $363.50 million, up from $222.51 million registered at the end of the previous quarter.

VHCP Management held Juno Therapeutics Inc (NASDAQ:JUNO) as its largest holding at the end of the last quarter, disclosing a position valued at $74.33 million, which represents more than 20% of its equity portfolio. Other investment firms betting on the company include James E. Flynn’s Deerfield Management, which owns 358,100 shares, and Christopher Medlock James’ Partner Fund Management. The latter boasts a stake of 631,000 shares, which were valued at $32.95 million at the end of the last quarter. Despite missing estimates by a wide margin in its recently released earnings report, Juno Therapeutics Inc (NASDAQ:JUNO) has been performing very well. Since its IPO in December of 2014, the stock has already gained a whopping 65%. Thursday’s trading activity suggests investors are aware that the reported loss was largely due to the fact that management poured a great deal of cash into research and development. Hence, the company’s recently released financial results has had little effect on the optimistic outlook share by most investors, who remain enthusiastic regarding Juno Therapeutics’ drug pipeline.

Coherus Biosciences Inc (NASDAQ:CHRS) is another stock VHCP Management is bullish on. Last quarter, the investment firm initiated a stake in the company with the purchase of 870,300 shares, valued at $13.07 million. Joseph Edelman’s Perceptive Advisors also holds a considerable stake in the company, amounting to 438,000 shares. Coherus Biosciences Inc (NASDAQ:CHRS) went public in November and  since its IPO, the stock has already gained an impressive 126% and is trading at $28.98 as of Thursday afternoon. The stock could continue to climb in the near future, since the company is set to announce its earnings results for this quarter on Monday. Furthermore, last month, analysts at JPMorgan raised their price target for Coherus Biosciences Inc (NASDAQ:CHRS) to $35.00 per share from $20.00.

Finally, VHCP Management is also bullish regarding Stemline Therapeutics Inc (NASDAQ:STML), holding 356,400 shares, after increasing its exposure to the stock by more than 400% last quarter. Although the company’s share price plummeted by 33.5% over the past 52-weeks, the stock gained 28.6% over the past six months. Hence, after dropping to a 52-week low of $10.50 per share during the third quarter, Stemline Therapeutics Inc (NASDAQ:STML) seems to be bouncing back. The company is set to deliver its quarterly earnings results soon and according to numerous analysts, the results should be optimistic. In addition to VHCP Management, numerous hedge funds are bullish on the stock, such as Julian Baker and Felix Baker’s Baker Bros. Advisors, which own 338,700 shares. Israel Englander’s Millennium Management is also betting on Stemline Therapeutics Inc (NASDAQ:STML), with a stake of 163,400 shares.

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Disclosure: none.