Public Employees Retirement System of Ohio purchased a new position in Coherus Biosciences Inc (NASDAQ:CHRS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,400 shares of the biotechnology company’s stock, valued at approximately $75,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aperio Group LLC acquired a new position in Coherus Biosciences in the 2nd quarter worth about $80,000. Bank of Montreal Can acquired a new position in Coherus Biosciences in the 2nd quarter worth about $114,000. SG Americas Securities LLC acquired a new position in Coherus Biosciences in the 1st quarter worth about $108,000. Xact Kapitalforvaltning AB acquired a new position in Coherus Biosciences in the 2nd quarter worth about $225,000. Finally, BNP Paribas Arbitrage SA raised its holdings in Coherus Biosciences by 107,870.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,797 shares of the biotechnology company’s stock worth $147,000 after purchasing an additional 10,787 shares during the period. 95.19% of the stock is owned by institutional investors.
NASDAQ:CHRS traded up $1.16 during trading hours on Wednesday, hitting $23.26. 79,230 shares of the stock were exchanged, compared to its average volume of 817,541. Coherus Biosciences Inc has a 52-week low of $8.32 and a 52-week high of $23.43. The firm’s fifty day moving average price is $20.59 and its 200 day moving average price is $18.16. The company has a market cap of $1.56 billion, a P/E ratio of -7.22 and a beta of 2.95.
A number of equities analysts recently weighed in on CHRS shares. BidaskClub cut Coherus Biosciences from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Mizuho started coverage on Coherus Biosciences in a report on Tuesday, August 13th. They issued a “buy” rating and a $43.00 price target for the company. Zacks Investment Research cut Coherus Biosciences from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. Maxim Group reaffirmed a “buy” rating and issued a $27.00 price target (up previously from $25.00) on shares of Coherus Biosciences in a report on Friday, August 2nd. Finally, Barclays set a $31.00 price target on Coherus Biosciences and gave the stock a “buy” rating in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Coherus Biosciences currently has an average rating of “Buy” and a consensus target price of $31.38.
In other news, COO Vincent R. Anicetti sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $19.00, for a total value of $47,500.00. 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 360,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $22.30, for a total value of $8,028,000.00. Following the completion of the sale, the director now owns 92 shares of the company’s stock, valued at $2,051.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 579,977 shares of company stock valued at $12,842,429. 18.20% of the stock is owned by company insiders.
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.
Further Reading: Straddles
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