Coherus BioSciences, Inc. (NASDAQ:CHRS) Short Interest Up 5.6% in October

Coherus BioSciences, Inc. (NASDAQ:CHRS) saw a large 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 days-to-cover ratio is currently 12.6 days.

Coherus BioSciences Price Performance

NASDAQ CHRS traded up $0.04 during trading hours on Monday, hitting $0.78. The company had a trading volume of 2,704,054 shares, compared to its average volume of 2,675,956. The firm’s 50 day moving average is $0.93 and its 200 day moving average is $1.39. The company has a market capitalization of $90.01 million, a price-to-earnings ratio of -9.77 and a beta of 0.69. Coherus BioSciences has a fifty-two week low of $0.66 and a fifty-two week high of $3.70.

Institutional Investors Weigh In On Coherus BioSciences

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in Coherus BioSciences by 7.7% during the third quarter. Geode Capital Management LLC now owns 2,565,145 shares of the biotechnology company’s stock valued at $2,668,000 after purchasing an additional 182,914 shares during the last quarter. CM Management LLC boosted its holdings in Coherus BioSciences by 10.0% in the 2nd quarter. CM Management LLC now owns 1,100,000 shares of the biotechnology company’s stock valued at $1,903,000 after purchasing an additional 100,000 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Coherus BioSciences by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 964,327 shares of the biotechnology company’s stock valued at $1,003,000 after buying an additional 116,217 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Coherus BioSciences by 344.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 930,132 shares of the biotechnology company’s stock valued at $967,000 after buying an additional 720,672 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Coherus BioSciences during the 2nd quarter worth about $1,246,000. Institutional investors own 72.82% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.