Jacobs Levy Equity Management Inc. Decreases Position in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Jacobs Levy Equity Management Inc. lowered its stake in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) by 74.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 252,330 shares of the biotechnology company’s stock after selling 748,727 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Coherus BioSciences were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its stake in shares of Coherus BioSciences by 2,672.8% during the 2nd 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 purchased a new stake in shares of Coherus BioSciences during the 2nd quarter worth approximately $47,000. Price T Rowe Associates Inc. MD increased its stake in shares of Coherus BioSciences by 32.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,851 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 7,608 shares during the last quarter. Hsbc Holdings PLC grew its stake in Coherus BioSciences by 10.6% in the 2nd quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock valued at $179,000 after buying an additional 9,905 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Coherus BioSciences by 605.1% in the 2nd quarter. SG Americas Securities LLC now owns 123,577 shares of the biotechnology company’s stock valued at $214,000 after buying an additional 106,052 shares in the last quarter. Hedge funds and other institutional investors own 72.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Coherus BioSciences from $4.00 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. UBS Group lowered shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $4.00 to $1.50 in a research note on Friday, August 16th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Coherus BioSciences in a research note on Wednesday, December 4th. Finally, StockNews.com lowered shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a research note 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. Based on data from MarketBeat.com, Coherus BioSciences currently has an average rating of “Moderate Buy” and an average price target of $5.38.

Coherus BioSciences Price Performance

CHRS opened at $1.61 on Wednesday. The company has a fifty day moving average price of $1.01 and a 200-day moving average price of $1.31. The firm has a market capitalization of $185.49 million, a P/E ratio of -20.13 and a beta of 0.86. Coherus BioSciences, Inc. has a one year low of $0.66 and a one year high of $3.70.

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.