MetLife Investment Management LLC Makes New $101,000 Investment in Coherus BioSciences, Inc. (NASDAQ:CHRS)

MetLife Investment Management LLC acquired a new position in Coherus BioSciences, Inc. (NASDAQ:CHRS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 73,099 shares of the biotechnology company’s stock, valued at approximately $101,000.

A number of other institutional investors also recently made changes to their positions in CHRS. Steph & Co. purchased a new stake in Coherus BioSciences during the fourth quarter valued at about $34,000. Tyche Wealth Partners LLC lifted its stake in shares of Coherus BioSciences by 23.6% in the 4th quarter. Tyche Wealth Partners LLC now owns 266,766 shares of the biotechnology company’s stock valued at $368,000 after acquiring an additional 50,864 shares during the last quarter. Savant Capital LLC purchased a new stake in Coherus BioSciences during the 4th quarter valued at about $130,000. Ieq Capital LLC bought a new position in Coherus BioSciences during the 4th quarter worth approximately $68,000. Finally, Bank of New York Mellon Corp increased its stake in Coherus BioSciences by 26.6% in the 4th quarter. Bank of New York Mellon Corp now owns 391,002 shares of the biotechnology company’s stock worth $540,000 after purchasing an additional 82,222 shares during the period. Hedge funds and other institutional investors own 72.82% of the company’s stock.

Coherus BioSciences Stock Performance

CHRS opened at $0.97 on Friday. The stock’s 50 day moving average price is $0.95 and its 200-day moving average price is $1.13. Coherus BioSciences, Inc. has a 52-week low of $0.66 and a 52-week high of $2.43. The stock has a market capitalization of $111.95 million, a PE ratio of -12.07 and a beta of 1.01.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CHRS shares. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Coherus BioSciences in a research note on Tuesday, April 29th. UBS Group reissued a “neutral” rating and set a $1.05 price target (down previously from $1.50) on shares of Coherus BioSciences in a research report on Thursday, April 24th. Finally, StockNews.com cut shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coherus BioSciences has an average rating of “Hold” and an average target price of $5.26.

Coherus BioSciences 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.