Coherus BioSciences, Inc. (NASDAQ:CHRS) Sees Significant Growth in Short Interest

Coherus BioSciences, Inc. (NASDAQ:CHRS) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 31,510,000 shares, a growth of 5.6% from the October 15th total of 29,850,000 shares. Based on an average daily volume of 2,500,000 shares, the short-interest ratio is currently 12.6 days.

Institutional Investors Weigh In On Coherus BioSciences

A number of institutional investors and hedge funds 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% in the third 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 in 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 acquiring an additional 100,000 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Coherus BioSciences by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 964,327 shares of the biotechnology company’s stock valued at $1,003,000 after acquiring an additional 116,217 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Coherus BioSciences by 344.1% in the third quarter. Los Angeles Capital Management LLC now owns 930,132 shares of the biotechnology company’s stock worth $967,000 after acquiring an additional 720,672 shares during the period. Finally, AQR Capital Management LLC purchased a new stake in shares of Coherus BioSciences during the second quarter worth about $1,246,000. Institutional investors own 72.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CHRS. UBS Group downgraded shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and cut their target price for the stock from $4.00 to $1.50 in a research report on Friday, August 16th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Coherus BioSciences in a report on Thursday, November 7th. StockNews.com downgraded Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Finally, Robert W. Baird cut their price target on Coherus BioSciences from $8.00 to $4.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.13.

Coherus BioSciences Trading Down 3.7 %

Shares of CHRS stock traded down $0.03 during mid-day trading on Friday, reaching $0.74. 3,005,811 shares of the company’s stock traded hands, compared to its average volume of 2,670,792. Coherus BioSciences has a 12 month low of $0.66 and a 12 month high of $3.70. The firm has a 50 day moving average price of $0.94 and a two-hundred day moving average price of $1.41.

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.