Coherus BioSciences Target of Unusually Large Options Trading (NASDAQ:CHRS)

Coherus BioSciences, Inc. (NASDAQ:CHRS) was the target of some unusual options trading activity on Tuesday. Stock investors acquired 22,003 call options on the stock. This is an increase of approximately 2,418% compared to the average volume of 874 call options.

Hedge Funds Weigh In On Coherus BioSciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in Coherus BioSciences during the first quarter worth about $94,000. AQR Capital Management LLC purchased a new stake in shares of Coherus BioSciences during the second quarter worth about $1,246,000. Los Angeles Capital Management LLC grew its holdings in shares of Coherus BioSciences by 344.1% during the third quarter. Los Angeles Capital Management LLC now owns 930,132 shares of the biotechnology company’s stock worth $967,000 after buying an additional 720,672 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Coherus BioSciences by 26.0% during the second quarter. Bank of New York Mellon Corp now owns 389,225 shares of the biotechnology company’s stock worth $673,000 after buying an additional 80,222 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Coherus BioSciences by 19.5% during the second quarter. Rhumbline Advisers now owns 154,904 shares of the biotechnology company’s stock worth $268,000 after buying an additional 25,241 shares in the last quarter. Institutional investors and hedge funds own 72.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

Coherus BioSciences Stock Up 53.6 %

Shares of NASDAQ CHRS traded up $0.74 during midday trading on Tuesday, hitting $2.11. The company had a trading volume of 74,208,227 shares, compared to its average volume of 2,996,820. Coherus BioSciences has a twelve month low of $0.66 and a twelve month high of $3.70. The business has a 50-day simple moving average of $0.94 and a two-hundred day simple moving average of $1.32. The firm has a market capitalization of $242.52 million, a price-to-earnings ratio of -26.25 and a beta of 0.86.

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.