Short Interest in Coherus BioSciences, Inc. (NASDAQ:CHRS) Drops By 7.0%

Coherus BioSciences, Inc. (NASDAQ:CHRS) was the recipient of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 30,720,000 shares, a decrease of 7.0% from the November 15th total of 33,040,000 shares. Based on an average daily trading volume, of 5,120,000 shares, the days-to-cover ratio is presently 6.0 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Robert W. Baird upped their target price on Coherus BioSciences from $4.00 to $6.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. StockNews.com cut Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Coherus BioSciences in a report on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Coherus BioSciences has an average rating of “Moderate Buy” and an average price target of $5.38.

Coherus BioSciences Trading Down 2.9 %

NASDAQ CHRS traded down $0.05 during trading on Tuesday, reaching $1.65. 1,382,756 shares of the company’s stock were exchanged, compared to its average volume of 3,302,316. The firm has a market capitalization of $190.10 million, a PE ratio of -21.25 and a beta of 0.86. The company’s fifty day simple moving average is $1.06 and its 200-day simple moving average is $1.30. Coherus BioSciences has a fifty-two week low of $0.66 and a fifty-two week high of $3.70.

Institutional Investors Weigh In On Coherus BioSciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHRS. Geode Capital Management LLC increased its stake in shares of Coherus BioSciences by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,565,145 shares of the biotechnology company’s stock worth $2,668,000 after purchasing an additional 182,914 shares during the last quarter. CM Management LLC raised its holdings in Coherus BioSciences by 10.0% during the second quarter. CM Management LLC now owns 1,100,000 shares of the biotechnology company’s stock valued at $1,903,000 after buying an additional 100,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Coherus BioSciences by 13.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 964,327 shares of the biotechnology company’s stock worth $1,003,000 after acquiring an additional 116,217 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of 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 during the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of Coherus BioSciences in the 2nd quarter valued at approximately $1,246,000. Hedge funds and other institutional investors own 72.82% of the company’s stock.

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.