SG Americas Securities LLC purchased a new position in shares of Coherus Biosciences Inc (NASDAQ:CHRS) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,916 shares of the biotechnology company’s stock, valued at approximately $108,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Pura Vida Investments LLC purchased a new position in shares of Coherus Biosciences in the 4th quarter valued at $1,910,000. Rhenman & Partners Asset Management AB lifted its position in Coherus Biosciences by 40.5% in the 1st quarter. Rhenman & Partners Asset Management AB now owns 451,131 shares of the biotechnology company’s stock valued at $6,153,000 after purchasing an additional 130,000 shares during the last quarter. Rhumbline Advisers raised its position in shares of Coherus Biosciences by 56.1% during the 4th quarter. Rhumbline Advisers now owns 68,251 shares of the biotechnology company’s stock worth $618,000 after buying an additional 24,533 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Coherus Biosciences during the 4th quarter worth about $905,000. Finally, BlackRock Inc. raised its holdings in shares of Coherus Biosciences by 2.1% in the 4th quarter. BlackRock Inc. now owns 4,722,418 shares of the biotechnology company’s stock worth $42,739,000 after purchasing an additional 94,893 shares in the last quarter. 99.18% of the stock is currently owned by hedge funds and other institutional investors.
CHRS traded up $0.42 during trading on Wednesday, reaching $17.98. 39,009 shares of the company were exchanged, compared to its average volume of 853,405. Coherus Biosciences Inc has a 12-month low of $8.32 and a 12-month high of $21.18. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -5.58 and a beta of 3.15. The company has a debt-to-equity ratio of 8.29, a quick ratio of 3.79 and a current ratio of 3.84.
Several analysts have commented on CHRS shares. Credit Suisse Group set a $25.00 target price on shares of Coherus Biosciences and gave the stock a “buy” rating in a research report on Thursday, March 7th. Maxim Group reaffirmed a “buy” rating and issued a $25.00 target price on shares of Coherus Biosciences in a report on Monday, April 8th. BidaskClub upgraded shares of Coherus Biosciences from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. Robert W. Baird set a $28.00 target price on shares of Coherus Biosciences and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, ValuEngine raised shares of Coherus Biosciences from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Nine analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $28.57.
In other news, CFO Jean-Frederic Viret sold 3,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $14.92, for a total value of $44,760.00. Following the completion of the transaction, the chief financial officer now owns 13,185 shares in the company, valued at $196,720.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Healy sold 257,870 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $20.69, for a total value of $5,335,330.30. Following the completion of the transaction, the director now owns 92 shares of the company’s stock, valued at approximately $1,903.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,268 shares of company stock worth $6,011,527. Corporate insiders own 18.20% of the company’s stock.
Coherus Biosciences Profile
Coherus BioSciences, Inc, a commercial-stage biotherapeutics company, focuses on the biosimilar market worldwide. It markets UDENYCA, a long-acting granulocyte-colony stimulating factor, which stimulates production of granulocytes in order to promote the body's ability to fight infections. The company sells UDENYCA in the United States.
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