Steph & Co. Acquires New Stake in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Steph & Co. purchased a new position in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 25,000 shares of the biotechnology company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in Coherus BioSciences in the 2nd quarter worth about $1,246,000. Los Angeles Capital Management LLC lifted its position in shares of Coherus BioSciences by 344.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 930,132 shares of the biotechnology company’s stock valued at $967,000 after acquiring an additional 720,672 shares during the period. FMR LLC grew its holdings in shares of Coherus BioSciences by 21.1% during the 3rd quarter. FMR LLC now owns 225,113 shares of the biotechnology company’s stock worth $234,000 after purchasing an additional 39,204 shares in the last quarter. Geode Capital Management LLC increased its position 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 during the period. Finally, Bank of New York Mellon Corp raised its stake in Coherus BioSciences by 26.0% in the second quarter. Bank of New York Mellon Corp now owns 389,225 shares of the biotechnology company’s stock valued at $673,000 after purchasing an additional 80,222 shares in the last quarter. 72.82% of the stock is owned by institutional investors.

Coherus BioSciences Stock Performance

Shares of NASDAQ:CHRS opened at $1.42 on Friday. Coherus BioSciences, Inc. has a 52-week low of $0.66 and a 52-week high of $2.97. The company has a market capitalization of $163.60 million, a PE ratio of -17.75 and a beta of 0.82. The company has a fifty day moving average of $1.36 and a 200-day moving average of $1.27.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CHRS shares. Robert W. Baird increased their price objective on shares of Coherus BioSciences from $4.00 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Coherus BioSciences in a report on Wednesday, December 4th. Finally, StockNews.com cut Coherus BioSciences from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.38.

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.