Coherus Oncology (NASDAQ:CHRS) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Coherus Oncology, Inc. (NASDAQ:CHRS) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.92 and traded as high as $1.18. Coherus Oncology shares last traded at $1.16, with a volume of 499,566 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Coherus Oncology from a “hold” rating to a “sell” rating in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $4.68.

Coherus Oncology Stock Up 3.8%

The company has a market cap of $143.54 million, a PE ratio of 0.78 and a beta of 0.88. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $0.95 and its 200-day simple moving average is $0.93.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Coherus Oncology by 97.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 30,847 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 15,214 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Coherus Oncology in the fourth quarter worth $52,000. International Assets Investment Management LLC acquired a new stake in Coherus Oncology during the 2nd quarter valued at $33,000. CWM LLC grew its holdings in Coherus Oncology by 96.6% during the 1st quarter. CWM LLC now owns 49,793 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 24,468 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in Coherus Oncology by 84.0% during the 1st quarter. Cerity Partners LLC now owns 54,676 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 24,953 shares in the last quarter. 72.82% of the stock is owned by hedge funds and other institutional investors.

Coherus Oncology 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.