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

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

Hedge Funds Weigh In On Coherus BioSciences

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Coherus BioSciences by 7.7% in the third quarter. Geode Capital Management LLC now owns 2,565,145 shares of the biotechnology company’s stock worth $2,668,000 after acquiring an additional 182,914 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Coherus BioSciences by 74.5% during the 3rd quarter. XTX Topco Ltd now owns 473,517 shares of the biotechnology company’s stock worth $492,000 after purchasing an additional 202,084 shares during the last quarter. Systematic Financial Management LP purchased a new stake in shares of Coherus BioSciences during the 3rd quarter worth $28,000. FMR LLC lifted its position in shares of Coherus BioSciences by 21.1% during the 3rd quarter. FMR LLC now owns 225,113 shares of the biotechnology company’s stock worth $234,000 after purchasing an additional 39,204 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Coherus BioSciences by 13.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 964,327 shares of the biotechnology company’s stock worth $1,003,000 after purchasing an additional 116,217 shares during the last quarter. Institutional investors and hedge funds own 72.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird decreased their price target on shares of Coherus BioSciences from $8.00 to $4.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. StockNews.com lowered shares of Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Saturday, October 19th. UBS Group lowered shares of Coherus BioSciences from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $4.00 to $1.50 in a research note on Friday, August 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Coherus BioSciences in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4.88.

Coherus BioSciences Price Performance

NASDAQ:CHRS opened at $1.71 on Thursday. The company has a fifty day simple moving average of $0.96 and a two-hundred day simple moving average of $1.32. The company has a market cap of $197.01 million, a price-to-earnings ratio of -21.38 and a beta of 0.86. Coherus BioSciences has a 52 week low of $0.66 and a 52 week high of $3.70.

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.