Coherus BioSciences, Inc. (NASDAQ:CHRS) Position Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Coherus BioSciences, Inc. (NASDAQ:CHRSFree Report) by 33.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 395,527 shares of the biotechnology company’s stock after selling 194,521 shares during the period. Bank of New York Mellon Corp owned 0.42% of Coherus BioSciences worth $1,479,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. C WorldWide Group Holding A S boosted its position in Coherus BioSciences by 107.7% during the second quarter. C WorldWide Group Holding A S now owns 1,928,464 shares of the biotechnology company’s stock valued at $8,235,000 after purchasing an additional 1,000,000 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in shares of Coherus BioSciences in the second quarter worth about $549,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Coherus BioSciences by 10.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 75,576 shares of the biotechnology company’s stock worth $323,000 after buying an additional 7,229 shares during the last quarter. Brandywine Global Investment Management LLC lifted its position in shares of Coherus BioSciences by 703.3% in the second quarter. Brandywine Global Investment Management LLC now owns 404,445 shares of the biotechnology company’s stock worth $1,727,000 after buying an additional 354,100 shares during the last quarter. Finally, Legato Capital Management LLC lifted its position in shares of Coherus BioSciences by 66.4% in the third quarter. Legato Capital Management LLC now owns 98,229 shares of the biotechnology company’s stock worth $367,000 after buying an additional 39,191 shares during the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Coherus BioSciences in a research report on Wednesday, December 27th. Barclays reduced their price target on Coherus BioSciences from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Monday, October 23rd. Truist Financial dropped their price objective on Coherus BioSciences from $12.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Maxim Group lowered Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, Robert W. Baird dropped their price objective on Coherus BioSciences from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.22.

View Our Latest Analysis on CHRS

Coherus BioSciences Stock Performance

CHRS stock opened at $2.32 on Thursday. Coherus BioSciences, Inc. has a 1-year low of $1.43 and a 1-year high of $8.65. The firm has a market cap of $258.36 million, a P/E ratio of -0.89 and a beta of 0.53. The business’s 50 day moving average is $2.43 and its 200-day moving average is $3.34.

Coherus BioSciences (NASDAQ:CHRSGet Free Report) last released its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.07. The company had revenue of $74.57 million during the quarter, compared to the consensus estimate of $80.13 million. Sell-side analysts forecast that Coherus BioSciences, Inc. will post -2.18 EPS for the current year.

Insider Activity

In other news, CEO Dennis M. Lanfear sold 223,100 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $2.02, for a total value of $450,662.00. Following the sale, the chief executive officer now directly owns 731,693 shares in the company, valued at approximately $1,478,019.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 10.99% of the company’s stock.

Coherus BioSciences Company Profile

(Free Report)

Coherus BioSciences, Inc, a biopharmaceutical company, focuses on the biosimilar and immuno-oncology market primarily in the United States. The company provides UDENYCA, a biosimilar to Neulasta, a long-acting granulocyte-colony stimulating factor; and CIMERLI, a biosimilar to Lucentis, a biosimilar product interchangeable with Lucentis for the treatment of neovascular age-related macular degeneration, macular edema following retinal vein occlusion, diabetic macular edema, diabetic retinopathy, and myopic choroidal neovascularization in the United States.

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Institutional Ownership by Quarter for Coherus BioSciences (NASDAQ:CHRS)

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