Tang Capital Management LLC Purchases 1,300,000 Shares of Coherus BioSciences, Inc. (NASDAQ:CHRS)

Tang Capital Management LLC lifted its position in Coherus BioSciences, Inc. (NASDAQ:CHRS) by 55.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,650,000 shares of the biotechnology company’s stock after purchasing an additional 1,300,000 shares during the quarter. Tang Capital Management LLC’s holdings in Coherus BioSciences were worth $5,037,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CHRS. Point72 Asset Management L.P. bought a new stake in shares of Coherus BioSciences in the 4th quarter worth about $7,291,000. Millennium Management LLC grew its holdings in shares of Coherus BioSciences by 31.6% in the 4th quarter. Millennium Management LLC now owns 1,049,603 shares of the biotechnology company’s stock worth $1,448,000 after purchasing an additional 252,092 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Coherus BioSciences by 20.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,116,142 shares of the biotechnology company’s stock worth $1,540,000 after purchasing an additional 186,010 shares during the last quarter. Northern Trust Corp lifted its position in Coherus BioSciences by 12.2% during the 4th quarter. Northern Trust Corp now owns 1,006,505 shares of the biotechnology company’s stock worth $1,389,000 after buying an additional 109,770 shares in the last quarter. Finally, Savant Capital LLC bought a new stake in Coherus BioSciences during the 4th quarter worth about $130,000. Institutional investors own 72.82% of the company’s stock.

Coherus BioSciences Stock Down 0.9%

Shares of NASDAQ:CHRS opened at $0.76 on Friday. Coherus BioSciences, Inc. has a 12 month low of $0.66 and a 12 month high of $2.43. The company’s 50-day moving average price is $0.93 and its two-hundred day moving average price is $1.13. The firm has a market cap of $88.23 million, a P/E ratio of -9.51 and a beta of 1.01.

Coherus BioSciences (NASDAQ:CHRS) last released its earnings results on Monday, May 12th. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The business had revenue of $7.60 million for the quarter, compared to the consensus estimate of $59.79 million. During the same quarter in the previous year, the firm posted ($0.32) EPS. As a group, equities analysts predict that Coherus BioSciences, Inc. will post -1.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CHRS has been the topic of a number of research analyst reports. StockNews.com lowered shares of Coherus BioSciences from a “hold” rating to a “sell” rating in a report on Friday, May 9th. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Coherus BioSciences in a report on Tuesday, April 29th. Finally, UBS Group reissued a “neutral” rating and set a $1.05 price objective (down previously from $1.50) on shares of Coherus BioSciences in a report on Thursday, April 24th.

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.