Coherus BioSciences, Inc. (NASDAQ:CHRS – Get Free Report) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 19,840,000 shares, a growth of 6.0% from the October 15th total of 18,720,000 shares. Based on an average daily trading volume, of 3,710,000 shares, the short-interest ratio is presently 5.3 days.
Coherus BioSciences Stock Up 24.6 %
CHRS stock traded up $0.42 during trading on Friday, hitting $2.13. 8,337,392 shares of the company’s stock traded hands, compared to its average volume of 2,789,464. The business has a fifty day simple moving average of $3.50 and a two-hundred day simple moving average of $4.38. The firm has a market capitalization of $237.20 million, a P/E ratio of -0.73 and a beta of 0.87. Coherus BioSciences has a 1 year low of $1.43 and a 1 year high of $10.99.
Institutional Investors Weigh In On Coherus BioSciences
Hedge funds have recently made changes to their positions in the stock. Natixis Advisors L.P. lifted its position in shares of Coherus BioSciences by 16.0% during the first quarter. Natixis Advisors L.P. now owns 19,460 shares of the biotechnology company’s stock valued at $251,000 after buying an additional 2,687 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of Coherus BioSciences by 63.6% in the 1st quarter. MetLife Investment Management LLC now owns 34,888 shares of the biotechnology company’s stock worth $450,000 after purchasing an additional 13,564 shares in the last quarter. Rhumbline Advisers grew its stake in Coherus BioSciences by 5.8% during the 1st quarter. Rhumbline Advisers now owns 165,100 shares of the biotechnology company’s stock worth $2,131,000 after buying an additional 8,992 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Coherus BioSciences by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 54,943 shares of the biotechnology company’s stock valued at $709,000 after buying an additional 6,775 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Coherus BioSciences by 1.3% in the first quarter. BlackRock Inc. now owns 12,072,187 shares of the biotechnology company’s stock valued at $155,851,000 after buying an additional 153,332 shares during the last quarter. 91.86% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
About Coherus BioSciences
Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the biosimilar and immuno-oncology market primarily in the United States. The company provides UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; and CIMERLI, a biosimilar to Lucentis, a biosimilar product interchangeable with Lucentis for the treatment of neovascular age-related macular degeneration, macular edema following retinal vein occlusion, diabetic macular edema, diabetic retinopathy, and myopic choroidal neovascularization in the United States.
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