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

Coherus BioSciences, Inc. (NASDAQ:CHRS) was the target of a large growth in short interest in 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 trading volume of 2,500,000 shares, the days-to-cover ratio is presently 12.6 days.

Institutional Trading of Coherus BioSciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Systematic Financial Management LP purchased a new position in Coherus BioSciences during the 3rd quarter worth $28,000. Nisa Investment Advisors LLC boosted its holdings in 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 purchasing an additional 19,912 shares during the last quarter. TIAA Trust National Association bought a new stake in Coherus BioSciences in the 2nd quarter worth about $47,000. Bayesian Capital Management LP purchased a new stake in Coherus BioSciences in the 1st quarter valued at about $56,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Coherus BioSciences by 32.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,851 shares of the biotechnology company’s stock worth $74,000 after buying an additional 7,608 shares during the last quarter. 72.82% of the stock is owned by hedge funds and other institutional investors.

Coherus BioSciences Price Performance

CHRS stock traded up $0.02 during midday trading on Tuesday, hitting $0.80. The stock had a trading volume of 1,166,661 shares, compared to its average volume of 2,669,252. The business has a fifty day moving average price of $0.93 and a two-hundred day moving average price of $1.39. Coherus BioSciences has a 1-year low of $0.66 and a 1-year high of $3.70.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Coherus BioSciences in a research report on Thursday, November 7th. Robert W. Baird cut their target price on shares of Coherus BioSciences from $8.00 to $4.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. UBS Group cut Coherus BioSciences from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $4.00 to $1.50 in a report on Friday, August 16th. 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.13.

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.