Short Interest in Coherus BioSciences, Inc. (NASDAQ:CHRS) Drops By 7.0%

Coherus BioSciences, Inc. (NASDAQ:CHRS - Get Free Report) was the target of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 30,720,000 shares, a drop of 7.0% from the November 15th total of 33,040,000 shares. Based on an average daily volume of 5,120,000 shares, the short-interest ratio is currently 6.0 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in shares of Coherus BioSciences during the second quarter worth approximately $1,246,000. Los Angeles Capital Management LLC grew its position in Coherus BioSciences by 344.1% during the third quarter. Los Angeles Capital Management LLC now owns 930,132 shares of the biotechnology company's stock worth $967,000 after buying an additional 720,672 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Coherus BioSciences by 26.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 389,225 shares of the biotechnology company's stock worth $673,000 after acquiring an additional 80,222 shares during the period. Rhumbline Advisers raised its holdings in Coherus BioSciences by 19.5% in the 2nd quarter. Rhumbline Advisers now owns 154,904 shares of the biotechnology company's stock valued at $268,000 after acquiring an additional 25,241 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Coherus BioSciences by 177.3% during the 2nd quarter. Marshall Wace LLP now owns 420,326 shares of the biotechnology company's stock valued at $727,000 after acquiring an additional 268,763 shares during the period. Institutional investors own 72.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Robert W. Baird boosted their price target on Coherus BioSciences from $4.00 to $6.00 and gave the stock an "outperform" rating in a research report on Thursday, December 5th. StockNews.com lowered Coherus BioSciences from a "buy" rating to a "hold" rating in a report on Saturday, October 19th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Coherus BioSciences in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $5.38.

Coherus BioSciences Stock Up 5.6 %

Shares of Coherus BioSciences stock traded up $0.09 on Monday, hitting $1.70. The stock had a trading volume of 3,196,159 shares, compared to its average volume of 3,310,301. The stock has a market cap of $195.86 million, a price-to-earnings ratio of -21.25 and a beta of 0.86. The business's 50 day moving average is $1.06 and its two-hundred day moving average is $1.30. Coherus BioSciences has a twelve month low of $0.66 and a twelve month high of $3.70.

Coherus BioSciences Company Profile

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.