Tang Capital Management LLC Has $5.04 Million Stock Position in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Tang Capital Management LLC lifted its position in Coherus BioSciences, Inc. (NASDAQ:CHRS) by 55.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,650,000 shares of the biotechnology company’s stock after buying an additional 1,300,000 shares during the quarter. Tang Capital Management LLC owned about 3.15% of Coherus BioSciences worth $5,037,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Savant Capital LLC acquired a new stake in shares of Coherus BioSciences in the fourth quarter worth $130,000. Geode Capital Management LLC increased its position in Coherus BioSciences by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,599,639 shares of the biotechnology company’s stock worth $3,588,000 after acquiring an additional 34,494 shares during the period. Charles Schwab Investment Management Inc. increased its position in Coherus BioSciences by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 976,857 shares of the biotechnology company’s stock worth $1,348,000 after acquiring an additional 12,530 shares during the period. Bank of Montreal Can bought a new position in Coherus BioSciences during the fourth quarter worth $34,000. Finally, Bank of New York Mellon Corp increased its position in Coherus BioSciences by 26.6% during the fourth quarter. Bank of New York Mellon Corp now owns 391,002 shares of the biotechnology company’s stock worth $540,000 after acquiring an additional 82,222 shares during the period. 72.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CHRS. UBS Group reaffirmed a “neutral” rating and set a $1.05 target price (down previously from $1.50) on shares of Coherus BioSciences in a research report on Thursday, April 24th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Coherus BioSciences in a research report on Tuesday, April 29th. Finally, StockNews.com lowered shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Friday, May 9th.

Coherus BioSciences Price Performance

Shares of Coherus BioSciences stock opened at $0.76 on Friday. The firm has a market capitalization of $88.23 million, a PE ratio of -9.51 and a beta of 1.01. The company’s fifty day moving average price is $0.93 and its two-hundred day moving average price is $1.13. Coherus BioSciences, Inc. has a 52-week low of $0.66 and a 52-week high of $2.43.

Coherus BioSciences (NASDAQ:CHRS) last announced its quarterly earnings results on Monday, May 12th. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The business had revenue of $7.60 million for the quarter, compared to analysts’ expectations of $59.79 million. During the same quarter in the previous year, the business earned ($0.32) earnings per share. Analysts predict that Coherus BioSciences, Inc. will post -1.05 earnings per share for the current fiscal year.

About Coherus BioSciences

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.