StockNews.com Begins Coverage on Global Cord Blood (NYSE:CO)

StockNews.com started coverage on shares of Global Cord Blood (NYSE:CO) in a research note issued to investors on Wednesday morning. The firm issued a strong-buy rating on the medical research company’s stock.

Global Cord Blood Stock Performance

Shares of CO stock opened at $1.35 on Wednesday. Global Cord Blood has a 12 month low of $2.03 and a 12 month high of $5.50. The stock has a market cap of $164.09 million, a PE ratio of 2.11 and a beta of 0.16. The company’s fifty day moving average price is $1.52 and its 200-day moving average price is $1.35.

Hedge Funds Weigh In On Global Cord Blood

A number of hedge funds have recently bought and sold shares of CO. Natixis Advisors L.P. boosted its stake in Global Cord Blood by 6.6% in the 1st quarter. Natixis Advisors L.P. now owns 189,330 shares of the medical research company’s stock worth $729,000 after purchasing an additional 11,709 shares in the last quarter. Northern Trust Corp purchased a new position in Global Cord Blood in the 2nd quarter worth about $96,000. Finally, Moneta Group Investment Advisors LLC raised its position in Global Cord Blood by 99,844.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,093,520 shares of the medical research company’s stock worth $77,957,000 after buying an additional 26,067,412 shares during the last quarter.

About Global Cord Blood

Global Cord Blood operates as a holding company, which engages in the provision of cord blood banking services. It provides cord blood processing and storage service. The company also offers cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services. The firm preserves cord blood units donated by the public and provides matching services on such donated units and deliver matching units to patients in need of transplants.