Coherus BioSciences, Inc. (NASDAQ:CHRS) Short Interest Update

Coherus BioSciences, Inc. (NASDAQ:CHRS) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 31,510,000 shares, a growth of 5.6% from the October 15th total of 29,850,000 shares. Based on an average trading volume of 2,500,000 shares, the short-interest ratio is currently 12.6 days.

Hedge Funds Weigh In On Coherus BioSciences

A number of large investors have recently bought and sold shares of CHRS. Los Angeles Capital Management LLC increased its stake in Coherus BioSciences by 344.1% in the third quarter. Los Angeles Capital Management LLC now owns 930,132 shares of the biotechnology company’s stock worth $967,000 after purchasing an additional 720,672 shares during the period. AQR Capital Management LLC purchased a new position in Coherus BioSciences in the 2nd quarter worth about $1,246,000. BNP Paribas Financial Markets lifted its holdings in Coherus BioSciences by 694.2% during the 1st quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company’s stock valued at $827,000 after buying an additional 302,570 shares in the last quarter. Marshall Wace LLP boosted its position in Coherus BioSciences by 177.3% in the 2nd quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock valued at $727,000 after buying an additional 268,763 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Coherus BioSciences by 159.2% in the 2nd quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock worth $683,000 after acquiring an additional 242,500 shares in the last quarter. Hedge funds and other institutional investors own 72.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Coherus BioSciences in a report on Thursday, November 7th. UBS Group cut shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $4.00 to $1.50 in a research note on Friday, August 16th. StockNews.com cut shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a research report on Saturday, October 19th. Finally, Robert W. Baird decreased their price objective on Coherus BioSciences from $8.00 to $4.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.13.

Coherus BioSciences Price Performance

Shares of Coherus BioSciences stock traded down $0.03 during trading on Friday, hitting $0.74. The stock had a trading volume of 3,005,811 shares, compared to its average volume of 2,670,792. The firm’s fifty day simple moving average is $0.94 and its 200-day simple moving average is $1.41. Coherus BioSciences has a 12 month low of $0.66 and a 12 month high of $3.70.

Coherus BioSciences Company Profile

Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the research, development, and commercialization of cancer treatments primarily in the United States. The company develops UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; LOQTORZI, a novel PD-1 inhibitor; and Casdozokitug, an investigational recombinant human immunoglobulin isotype G1 (IgG1) monoclonal antibody targeting interleukin 27.