Marshall Wace LLP Increases Holdings in Coherus BioSciences, Inc. (NASDAQ:CHRS)

Marshall Wace LLP boosted its holdings in shares of Coherus BioSciences, Inc. (NASDAQ:CHRS) by 177.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 420,326 shares of the biotechnology company’s stock after purchasing an additional 268,763 shares during the quarter. Marshall Wace LLP owned about 0.37% of Coherus BioSciences worth $727,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHRS. Lighthouse Investment Partners LLC purchased a new stake in Coherus BioSciences during the 4th quarter valued at approximately $1,043,000. BNP Paribas Financial Markets grew its stake in Coherus BioSciences by 694.2% during the first quarter. BNP Paribas Financial Markets now owns 346,157 shares of the biotechnology company’s stock valued at $827,000 after acquiring an additional 302,570 shares in the last quarter. Renaissance Technologies LLC grew its stake in Coherus BioSciences by 159.2% during the second quarter. Renaissance Technologies LLC now owns 394,828 shares of the biotechnology company’s stock valued at $683,000 after acquiring an additional 242,500 shares in the last quarter. XTX Topco Ltd increased its holdings in Coherus BioSciences by 304.9% in the 2nd quarter. XTX Topco Ltd now owns 271,433 shares of the biotechnology company’s stock valued at $470,000 after acquiring an additional 204,391 shares during the last quarter. Finally, CM Management LLC lifted its stake in Coherus BioSciences by 21.4% in the 1st quarter. CM Management LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $2,390,000 after purchasing an additional 176,000 shares in the last quarter. Institutional investors own 72.82% of the company’s stock.

Coherus BioSciences Price Performance

Shares of CHRS stock opened at $1.04 on Wednesday. The company has a market cap of $119.32 million, a PE ratio of -1.33 and a beta of 0.65. Coherus BioSciences, Inc. has a 1 year low of $0.97 and a 1 year high of $3.98. The stock’s 50 day simple moving average is $1.25 and its two-hundred day simple moving average is $1.68.

Coherus BioSciences (NASDAQ:CHRS) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.10. The company had revenue of $64.98 million for the quarter, compared to analysts’ expectations of $57.08 million. Equities research analysts expect that Coherus BioSciences, Inc. will post -1.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CHRS. UBS Group lowered Coherus BioSciences from a “buy” rating to a “neutral” rating and cut their price objective for the company from $4.00 to $1.50 in a research report on Friday, August 16th. StockNews.com downgraded Coherus BioSciences from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Coherus BioSciences in a report on Monday, September 16th. Finally, Robert W. Baird cut their target price on shares of Coherus BioSciences from $9.00 to $8.00 and set an “outperform” rating for the company in a report on Monday, July 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Coherus BioSciences currently has an average rating of “Moderate Buy” and a consensus price target of $6.92.

Coherus BioSciences 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.