Geode Capital Management LLC Increases Stake in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Geode Capital Management LLC raised its holdings in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) by 7.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,565,145 shares of the biotechnology company’s stock after purchasing an additional 182,914 shares during the quarter. Geode Capital Management LLC’s holdings in Coherus BioSciences were worth $2,668,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp grew its stake in Coherus BioSciences by 26.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 389,225 shares of the biotechnology company’s stock valued at $673,000 after acquiring an additional 80,222 shares in the last quarter. Rhumbline Advisers grew its position in shares of Coherus BioSciences by 19.5% in the second quarter. Rhumbline Advisers now owns 154,904 shares of the biotechnology company’s stock valued at $268,000 after purchasing an additional 25,241 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Coherus BioSciences by 6.8% in the second quarter. Los Angeles Capital Management LLC now owns 209,460 shares of the biotechnology company’s stock valued at $362,000 after purchasing an additional 13,250 shares during the last quarter. Renaissance Technologies LLC lifted its position in Coherus BioSciences by 159.2% during the second quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock worth $683,000 after buying an additional 242,500 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Coherus BioSciences by 10.6% during the second quarter. Hsbc Holdings PLC now owns 103,183 shares of the biotechnology company’s stock worth $179,000 after buying an additional 9,905 shares during the last quarter. 72.82% of the stock is currently owned by institutional investors and hedge funds.

Coherus BioSciences Stock Down 3.1 %

Shares of Coherus BioSciences stock opened at $1.57 on Wednesday. The business’s fifty day simple moving average is $1.26 and its 200-day simple moving average is $1.27. The firm has a market cap of $180.88 million, a PE ratio of -19.63 and a beta of 0.82. Coherus BioSciences, Inc. has a 52 week low of $0.66 and a 52 week high of $3.13.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Robert W. Baird lifted their price target on Coherus BioSciences from $4.00 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Coherus BioSciences in a research report on Wednesday, December 4th. Finally, StockNews.com lowered shares of 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 issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.38.

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.