Coherus BioSciences (NASDAQ:CHRS) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Coherus BioSciences, Inc. (NASDAQ:CHRS) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.27 and traded as high as $1.66. Coherus BioSciences shares last traded at $1.57, with a volume of 1,327,378 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently issued reports on CHRS. StockNews.com lowered shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Saturday, October 19th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Coherus BioSciences in a research note on Wednesday, December 4th. Finally, Robert W. Baird increased their price target on Coherus BioSciences from $4.00 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Coherus BioSciences presently has an average rating of “Moderate Buy” and an average price target of $5.38.

Coherus BioSciences Stock Performance

The firm has a market capitalization of $173.97 million, a P/E ratio of -18.88 and a beta of 0.82. The stock’s 50 day simple moving average is $1.27 and its 200 day simple moving average is $1.28.

Hedge Funds Weigh In On Coherus BioSciences

Several institutional investors have recently made changes to their positions in CHRS. Los Angeles Capital Management LLC boosted its position in Coherus BioSciences by 344.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 930,132 shares of the biotechnology company’s stock valued at $967,000 after acquiring an additional 720,672 shares in the last quarter. AQR Capital Management LLC purchased a new position in Coherus BioSciences in the second quarter valued at about $1,246,000. Marshall Wace LLP raised its holdings in Coherus BioSciences by 177.3% in the second quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock worth $727,000 after purchasing an additional 268,763 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Coherus BioSciences by 159.2% during the second quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock valued at $683,000 after buying an additional 242,500 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of Coherus BioSciences by 304.9% in the 2nd quarter. XTX Topco Ltd now owns 271,433 shares of the biotechnology company’s stock valued at $470,000 after buying an additional 204,391 shares in the last quarter. Hedge funds and other institutional investors own 72.82% of the company’s stock.

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.