Coherus BioSciences, Inc. (NASDAQ:CHRS) Short Interest Up 5.6% in October

Coherus BioSciences, Inc. (NASDAQ:CHRS) was the target of a large growth in short interest during the month of 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 daily volume of 2,500,000 shares, the short-interest ratio is currently 12.6 days.

Coherus BioSciences Stock Up 2.3 %

Shares of CHRS stock traded up $0.02 during trading hours on Tuesday, reaching $0.80. 1,166,661 shares of the stock traded hands, compared to its average volume of 2,669,252. The business has a fifty day moving average price of $0.93 and a 200 day moving average price of $1.39. Coherus BioSciences has a 1-year low of $0.66 and a 1-year high of $3.70.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CHRS shares. StockNews.com downgraded Coherus BioSciences from a “buy” rating to a “hold” rating in a research report on Saturday, October 19th. UBS Group lowered Coherus BioSciences from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $4.00 to $1.50 in a research note on Friday, August 16th. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Coherus BioSciences in a research report on Thursday, November 7th. Finally, Robert W. Baird cut their target price 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.13.

Institutional Investors Weigh In On Coherus BioSciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in Coherus BioSciences by 2,672.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 20,657 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 19,912 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Coherus BioSciences during the first quarter valued at approximately $56,000. Systematic Financial Management LP bought a new position in Coherus BioSciences in the third quarter worth $28,000. TIAA Trust National Association bought a new stake in Coherus BioSciences in the second quarter valued at about $47,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Coherus BioSciences by 32.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,851 shares of the biotechnology company’s stock worth $74,000 after buying an additional 7,608 shares in the last quarter. 72.82% of the stock is owned by hedge funds and other institutional investors.

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.