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

Coherus BioSciences, Inc. (NASDAQ:CHRS - Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 27,960,000 shares, an increase of 11.4% from the September 15th total of 25,090,000 shares. Based on an average trading volume of 2,150,000 shares, the short-interest ratio is presently 13.0 days.

Hedge Funds Weigh In On Coherus BioSciences

Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in shares of Coherus BioSciences by 2,672.8% during the second quarter. Nisa Investment Advisors LLC now owns 20,657 shares of the biotechnology company's stock worth $36,000 after acquiring an additional 19,912 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Coherus BioSciences by 66.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 21,426 shares of the biotechnology company's stock worth $51,000 after acquiring an additional 8,546 shares during the period. Bayesian Capital Management LP purchased a new position in Coherus BioSciences during the first quarter valued at approximately $56,000. TIAA Trust National Association purchased a new position in Coherus BioSciences during the second quarter valued at approximately $47,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Coherus BioSciences by 32.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,851 shares of the biotechnology company's stock valued at $74,000 after buying an additional 7,608 shares during the period. 72.82% of the stock is owned by hedge funds and other institutional investors.

Coherus BioSciences Stock Performance

NASDAQ CHRS traded down $0.04 during trading on Thursday, hitting $0.85. The stock had a trading volume of 3,241,908 shares, compared to its average volume of 2,674,583. The stock has a market capitalization of $97.31 million, a price-to-earnings ratio of -1.09 and a beta of 0.65. Coherus BioSciences has a one year low of $0.85 and a one year high of $3.73. The stock has a 50 day simple moving average of $1.20 and a 200 day simple moving average of $1.63.

Coherus BioSciences (NASDAQ:CHRS - Get Free Report) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) EPS for the quarter, topping analysts' consensus estimates of ($0.30) by $0.10. The company had revenue of $64.98 million for the quarter, compared to analysts' expectations of $57.08 million. On average, sell-side analysts predict that Coherus BioSciences will post -1.16 EPS for the current year.

Wall Street Analysts Forecast Growth

CHRS has been the subject of a number of analyst reports. StockNews.com raised shares of Coherus BioSciences from a "hold" rating to a "buy" rating in a report on Friday, October 11th. HC Wainwright reaffirmed a "buy" rating and issued a $12.00 price target on shares of Coherus BioSciences in a report on Monday, September 16th. UBS Group downgraded shares of Coherus BioSciences from a "buy" rating to a "neutral" rating and lowered their price target for the company from $4.00 to $1.50 in a report on Friday, August 16th. Finally, Robert W. Baird lowered their price target on shares of Coherus BioSciences from $9.00 to $8.00 and set an "outperform" rating for the company in a report on Monday, July 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $7.10.

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.