CM Management LLC Grows Holdings in Coherus BioSciences, Inc. (NASDAQ:CHRS)

CM Management LLC grew its holdings in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,100,000 shares of the biotechnology company’s stock after buying an additional 100,000 shares during the quarter. Coherus BioSciences accounts for about 1.7% of CM Management LLC’s investment portfolio, making the stock its 23rd largest holding. CM Management LLC’s holdings in Coherus BioSciences were worth $1,903,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CHRS. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Coherus BioSciences by 38.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,723 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 10,238 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Coherus BioSciences during the fourth quarter worth $243,000. Los Angeles Capital Management LLC lifted its stake in Coherus BioSciences by 82.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 136,820 shares of the biotechnology company’s stock worth $456,000 after purchasing an additional 61,722 shares during the last quarter. Jump Financial LLC lifted its stake in Coherus BioSciences by 50.6% during the fourth quarter. Jump Financial LLC now owns 33,267 shares of the biotechnology company’s stock worth $111,000 after purchasing an additional 11,180 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new position in Coherus BioSciences during the fourth quarter worth $47,000. 72.82% of the stock is currently owned by hedge funds and other institutional investors.

Coherus BioSciences Trading Up 1.4 %

CHRS stock traded up $0.02 during trading on Tuesday, hitting $1.41. The company had a trading volume of 107,705 shares, compared to its average volume of 2,661,340. The company has a fifty day moving average price of $1.48 and a two-hundred day moving average price of $1.91. The company has a market cap of $161.76 million, a P/E ratio of -1.78 and a beta of 0.60. Coherus BioSciences, Inc. has a fifty-two week low of $1.20 and a fifty-two week high of $5.33.

Coherus BioSciences (NASDAQ:CHRS) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.10. The firm had revenue of $64.98 million for the quarter, compared to the consensus estimate of $57.08 million. On average, analysts expect that Coherus BioSciences, Inc. will post -1.07 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. UBS Group lowered Coherus BioSciences from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $4.00 to $1.50 in a research report on Friday, August 16th. Truist Financial dropped their target price on Coherus BioSciences from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Robert W. Baird lowered their price target on Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Monday, July 1st. StockNews.com raised Coherus BioSciences from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Finally, HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Coherus BioSciences in a report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.92.

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.