Coherus BioSciences, Inc. (NASDAQ:CHRS) Short Interest Down 9.5% in March

Coherus BioSciences, Inc. (NASDAQ:CHRS) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 23,450,000 shares, a decline of 9.5% from the March 15th total of 25,910,000 shares. Based on an average daily trading volume, of 3,790,000 shares, the short-interest ratio is currently 6.2 days.

Coherus BioSciences Trading Down 2.3 %

NASDAQ CHRS traded down $0.05 during trading on Tuesday, reaching $2.15. The company’s stock had a trading volume of 1,374,111 shares, compared to its average volume of 3,935,485. The stock has a market capitalization of $242.33 million, a PE ratio of -0.84 and a beta of 0.54. Coherus BioSciences has a 1-year low of $1.43 and a 1-year high of $8.65. The business has a 50-day moving average price of $2.41 and a 200-day moving average price of $2.55.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings data on Wednesday, March 13th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.39). The company had revenue of $91.52 million for the quarter, compared to analyst estimates of $105.30 million. As a group, analysts expect that Coherus BioSciences will post -0.56 earnings per share for the current year.

Institutional Trading of Coherus BioSciences

Large investors have recently made changes to their positions in the stock. Ensign Peak Advisors Inc raised its holdings in Coherus BioSciences by 6.9% in the 3rd quarter. Ensign Peak Advisors Inc now owns 21,490 shares of the biotechnology company’s stock worth $207,000 after acquiring an additional 1,390 shares during the period. Federated Hermes Inc. lifted its position in shares of Coherus BioSciences by 55.0% during the 3rd quarter. Federated Hermes Inc. now owns 4,223 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 1,498 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Coherus BioSciences by 4.7% during the 1st quarter. Mackenzie Financial Corp now owns 33,671 shares of the biotechnology company’s stock valued at $435,000 after purchasing an additional 1,509 shares during the period. American International Group Inc. boosted its stake in Coherus BioSciences by 5.6% during the 2nd quarter. American International Group Inc. now owns 39,212 shares of the biotechnology company’s stock valued at $284,000 after purchasing an additional 2,067 shares during the period. Finally, Eagle Bay Advisors LLC grew its holdings in Coherus BioSciences by 136.1% in the 2nd quarter. Eagle Bay Advisors LLC now owns 3,891 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 2,243 shares during the last quarter. Institutional investors own 72.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CHRS shares. HC Wainwright decreased their price objective on Coherus BioSciences from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, March 20th. Truist Financial dropped their price objective on shares of Coherus BioSciences from $12.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Finally, Robert W. Baird decreased their target price on shares of Coherus BioSciences from $11.00 to $9.00 and set an “outperform” rating for the company in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.29.

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.