Coherus BioSciences, Inc. (NASDAQ:CHRS) Short Interest Update

Coherus BioSciences, Inc. (NASDAQ:CHRS) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 30,720,000 shares, a decline 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 currently 6.0 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Los Angeles Capital Management LLC increased its holdings in 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 worth $967,000 after purchasing an additional 720,672 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Coherus BioSciences during the second quarter worth approximately $1,246,000. Marshall Wace LLP increased its stake in shares of Coherus BioSciences by 177.3% in the second quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company’s stock worth $727,000 after buying an additional 268,763 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Coherus BioSciences by 159.2% in the second quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock valued at $683,000 after acquiring an additional 242,500 shares in the last quarter. Finally, XTX Topco Ltd boosted its stake in Coherus BioSciences by 304.9% during the 2nd quarter. XTX Topco Ltd now owns 271,433 shares of the biotechnology company’s stock valued at $470,000 after acquiring an additional 204,391 shares during the last quarter. Institutional investors and hedge funds own 72.82% of the company’s stock.

Coherus BioSciences Trading Up 4.0 %

CHRS stock traded up $0.07 during trading on Monday, reaching $1.68. The stock had a trading volume of 2,747,458 shares, compared to its average volume of 3,307,921. The firm has a fifty day moving average price of $1.04 and a 200 day moving average price of $1.30. The company has a market capitalization of $192.98 million, a P/E ratio of -20.13 and a beta of 0.86. Coherus BioSciences has a 1-year low of $0.66 and a 1-year high of $3.70.

Analyst Ratings Changes

Several brokerages recently issued reports on CHRS. StockNews.com downgraded Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Robert W. Baird increased their target price on Coherus BioSciences from $4.00 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Coherus BioSciences in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.38.

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.